April 2, 2008

Aecon and Scott Construction announce eight British Columbia projects worth over $300 million

VANCOUVER

Aecon Group Inc. (TSX: ARE) today announced that eight of the company’s new British Columbia projects will be delivered by Scott Construction Group of Vancouver. Aecon holds a 49% stake in Scott Construction.

The projects, worth a total of $337 million, were awarded to Aecon over the past several months. Most will be delivered under construction management contracts.

“These new projects showcase Scott’s capabilities to take on diverse projects in Vancouver and throughout British Columbia,” says John Scott, Chief Executive Officer, Scott Construction Group. “They represent a healthy backlog for Scott Construction, and position us well to take advantage of the expanding economy in Western Canada.”

The projects include:

•A $200 million renovation and new construction project in downtown Vancouver. The work involves restoration of the historic Georgia Hotel and construction of an adjacent 49-storey commercial/residential tower. The hotel renovation is expected to be completed in November 2009, the tower construction in November 2011.

•Construction of the Coast Hotel, a $48-million, 20-storey, 230,000 sq. ft. hotel on the Vancouver waterfront. The 220-room project is expected to be completed in November 2009.

•Expansion and renovation of the Sauder School of Business at the University of British Columbia. The work includes creation of new career and business centres and the rebuilding of a five-storey lecture theatre and library. The $45 million project is expected to be completed in October 2009.

•The design-build development of a $17 million, 84,000 sq. ft. corporate airline hangar and two-storey office facility for London Air Services (LAS) at the Vancouver airport. This structure will incorporate a steel building system to facilitate the 366 ft. clear span required for the movement and storage of LAS’s fleet of jets. The project is set for completion in October 2008.

•The $17 million construction of Ginger, a nine-storey residential building in Vancouver’s Chinatown. The expected completion date is July 2009.

•A $3.7 million Scott design-build contract, to construct a new 10,000 sq. ft. dealership, showroom and service bays for Steve Drane Harley Davidson near Victoria. The project broke ground in February and is scheduled for completion December 2008.

•A $4.6 million steel fabrication, supply and delivery contract for the “Enerplex” skating oval for the City of Fort St John in Northern British Columbia. This is Olympic training facility features two full-size hockey rinks surrounded by a speed skating oval and a running track suspended above.

•The $3 million Research Laboratory at the University of British Columbia. This design-build project is a steel building systems project to be delivered by October 2008. – RCD Digital Media

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