SOURCE: Maine & Maritimes Corporation

March 28, 2006 09:33 ET

The Maricor Group Names New Executives

MONCTON, NB and BOSTON, MA -- (MARKET WIRE) -- March 28, 2006 -- J. Nick Bayne, President and CEO of Maine & Maritimes Corporation (AMEX: MAM), announced today that Michael C. Gillis, P. Eng., has been promoted to President of The Maricor Group, the parent company for The Maricor Group, New England (TMGNE) and The Maricor Group, Canada (TMGC) and Patrick J. Curran, P.E. has been named President of The Maricor Group, New England.

Gillis, a licensed professional engineer and graduate of the University of New Brunswick, has extensive experience in mechanical engineering, design, development of specifications, site inspections and project management with a deep history of green and energy efficient designs. Prior to joining TMGC, he served as President and co-owner of Eastcan Consulting Engineers located in Moncton and purchased by TMGC in late 2003, as well as Chief Operating Officer of TMGC.

"Under Mike's leadership, TMGC has continued to evolve as an industry leader in energy efficiency, facility engineering, LEED® designs, and sustainability consulting across Canada. Mike understands the need to deliver quality services and innovations that respond to facility and energy performance challenges facing our clients, particularly during this era of rising energy costs. He has an excellent business acumen and his performance has shown his proven ability to lead TMG, not only within Canada, but for all of our North American operations," stated J. Nick Bayne.

According to Gillis, "I am extremely honored to have been selected to lead such a fine and talented team during this our growth stage. The Maricor Group's vision drives our company's performance of client-centric services and solutions, and is founded on a strong belief that you can do the right things for our environment and our communities, while still being economically efficient. Individually and collectively, we are convinced helping clients achieve an improved triple bottom line is essential to their success and the sustainability of our world."

Curran, formerly Vice President and Principal in Charge of MEP Services for TMGNE, is a native of the Boston area. He is a graduate of University of Massachusetts at Boston, the Wentworth Institute of Technology, and attended Northeastern University for advanced studies in HVAC controls. His economics and engineering backgrounds enable Curran to lead in providing clients with a deep understanding of lifecycle costs including energy savings from both a technical and economic perspective. His commitment to hands-on client responsiveness continues to shape TMGNE's client-oriented culture.

About Maine & Maritimes Corporation

Maine & Maritimes Corporation ("MAM") is the parent company of The Maricor Group and its subsidiaries, The Maricor Group, Canada Ltd, and the Maricor Group New England, Inc., both building sciences, energy efficiency and lifecycle asset management services companies. In addition, it is the parent company of Maine Public Service Company, a regulated electric transmission and distribution utility serving northern Maine; Maricor Properties Ltd and its subsidiaries, Cornwallis Court Developments Ltd and Mecel Properties Ltd, and its joint venture subsidiary Maricor Ashford Ltd, which are Canadian real estate development and investment companies; and Maricor Technologies, Inc., a sustainable lifecycle asset management and capital planning information technology subsidiary. MAM is headquartered in Presque Isle, Maine and its subsidiaries maintain offices in Moncton and Saint John, New Brunswick, Canada; Halifax, Nova Scotia, Canada; Boston, Massachusetts, and Portland, Maine. MAM's corporate website is

Cautionary Statement Regarding Forward-Looking Information

NOTE: This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Although Maine & Maritimes Corporation ("MAM") believes that in making such statements, its expectations are based on reasonable assumptions, any such statement involves uncertainties and risks. MAM cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided including, without limitation, potential changes in applicable laws and regulations, potential changes in Management, MAM's ability to raise necessary financing, and MAM's ability to execute its business plans in a timely and efficient manner.

Contact Information

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    Mike Randall
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    (506) 852-7523