Seacliff Construction Corp.

Seacliff Construction Corp.

October 22, 2008 08:00 ET

Seacliff's Construction Contracting Division Awarded $40 Million Contract by City of Calgary

Dominion Construction to Manage Roof Replacement at Talisman Centre Second Major Contract Win In A Week

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2008) - Seacliff Construction Corp. (TSX:SDC) ("Seacliff") today announced that Dominion Construction, its construction contracting division, has been awarded the $40 million Construction Management contract for the replacement of the roofing system at the Talisman Centre in Calgary, Alberta. The Talisman Centre is the second busiest multi-sport facility in North America, and a Calgary landmark due to its iconic, cable-supported white fabric roof. Construction of the new roof is scheduled to begin in late 2009 and be completed by December 31, 2010.

"We are delighted that Dominion has been selected to manage construction of the Talisman Centre's new roof," said Bill Crarer, Seacliff's CEO. "As the facility hosts over 1.4 million annual visitors and hundreds of ongoing training programs, the ability to maintain smooth operation of the facility's two annex buildings throughout this project was a key selection criteria for the City of Calgary. With nearly a century of construction experience, Dominion has the logistics expertise to ensure there will be no interruption of service. We also view this new contract win as additional evidence that activity within Western Canada's institutional construction sector remains strong, despite the recent volatility in global financial markets."

First opened in 1983, the Talisman Centre provides a wide variety of training and competition facilities, health and wellness programs, and recreational services to both high-performance athletes and regular citizens of the city. While the current roof is still structurally sound, an engineering team has recommended a roofing replacement no later than 2010 to avoid expensive, unplanned shutdowns. In addition, a renewed Talisman Centre will be a key recreation facility for the estimated 40,000 new residents and 60,000 additional day commuters expected to be coming to Calgary's city centre by 2035.

This is the second major institutional infrastructure contract Seacliff has announced in less than a week. On October 17, 2008, the company announced that Dominion Construction has been awarded a $50 million Construction Management contract for the new Engineering and Management Building at the University of British Columbia Okanagan (UBCO) in Kelowna, British Columbia. Construction under that contract will also commence in the fourth quarter of this year with project completion scheduled for late 2010.

About Seacliff Construction Corp.

Seacliff, which went public through an initial public offering in late April 2008, is one of the largest and most diversified construction companies in Western Canada. It provides general contracting construction services and electrical contracting services to a wide array of clients in both the public and private sectors, with a majority of its business derived from institutional, commercial, and light industrial construction projects. Seacliff is headquartered in Vancouver, B.C. and operates 16 locations in British Columbia, Alberta, Saskatchewan and Manitoba, as well as one location in Northwestern Ontario. Seacliff's business is conducted through two business units: Dominion Construction, a general contractor; and Canem Systems, an electrical contractor.

As a general contractor, Dominion offers diversified general contracting, construction management and design build services in Western Canada primarily to institutional, commercial and light industrial clients. Dominion's services include preconstruction planning and comprehensive project management services, including the planning and scheduling of the manpower, equipment, materials and subcontractors required for a project.

Canem provides a broad range of services including designing, building, maintaining and servicing electrical and data communication systems for institutional, commercial, light industrial and multi-family residential customers. Canem's electrical contracting services include: designing electrical distribution systems within a building or complex; procuring and installing electrical equipment and materials; on-call service for electrical maintenance and troubleshooting; preventative and scheduled maintenance for critical component installations; budgeting and preconstruction services; and management of regional and national contracts for multi-site installations.

Forward-Looking Statements

Certain statements in this press release may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. Assumptions have been made regarding, among other things, the successful implementation of Seacliff's business plan, the availability to Seacliff of qualified personnel, the continuation and completion of the projects forming Seacliff's Total Work on Hand, and general economic, business and market conditions. Although Seacliff believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Seacliff can give no assurance that such expectations will prove to be correct. The forward-looking statements are based on Seacliff's current expectations, estimates and projections, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, among others, Seacliff's ability to be retained for existing and new project work by existing and new clients, Seacliff's ability to retain and hire the qualified personnel required, the delay or cancellation of projects forming Seacliff's Total Work on Hand, general economic, business and market conditions, and other risks as are detailed from time to time in continuous disclosure filings of Seacliff. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. These forward-looking statements are made as of the date of this Press Release, and Seacliff assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable laws.

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