Armtec Expands Precast Concrete Standard Product Offering Through B.C. Acquisition



    Toronto Stock Exchange: ARF.UN

    GUELPH, ON, June 24 /CNW/ - Armtec Infrastructure Income Fund (TSX:
ARF.UN) today announced that it has signed an agreement to acquire the
outstanding shares of privately held A.E. Concrete Precast Products Ltd. ("AE
Concrete") for approximately $19 million. The transaction is expected to close
on June 27, 2008, subject to the satisfaction of customary closing conditions.
    AE Concrete has a precast production facility in Surrey, British
Columbia, where it manufactures and supplies precast concrete standard
products to the B.C. and Washington State infrastructure and residential
markets. It manufactures several types of utility vaults and ancillary
products, and a versatile precast retaining wall system that will be offered
by all of the Fund's divisions.
    "Our acquisition of AE Concrete strengthens the Fund's position in the
growing infrastructure markets in Western Canada," said Charles Phillips,
President and Chief Executive Officer. "The company's product line is
complementary to our business and will significantly enhance the Con-Force
division's standard products offering to customers in B.C. In addition, the
acquisition will allow us to leverage our specialized manufacturing capability
in British Columbia to grow our market share in the region. With annual sales
of approximately $17.5 million and 79 employees, AE Concrete has a solid track
record of delivering strong results and we expect it to be immediately
accretive to earnings and add unitholder value."

    About Armtec Infrastructure Income Fund

    The Fund is a leading manufacturer and marketer of a broad range of
infrastructure products and engineered bridging solutions for application in a
diverse cross-section of industries. These include the public infrastructure
market and private sector markets such as natural resources, commercial
building, residential construction and agricultural drainage. The Fund's
Armtec division is Canada's only national multi-material manufacturer
specializing in corrugated high density polyethylene pipe, and corrugated
steel pipe for drainage applications and highly engineered solutions including
bridging products and water management systems. The Con-Force division designs
and manufactures a wide range of bridging and construction products including
the advanced "NU" bridge girder system that allows for some of the longest
spans available in precast concrete technology. The Durisol division designs
and manufactures highway noise barriers and related infrastructure products,
such as retaining walls and acoustic enclosures, and is recognized as the only
fully qualified supplier of absorptive material in Ontario.

    Forward-Looking Statements

    This news release contains certain statements that constitute
forward-looking information within the meaning of applicable securities laws
("forward-looking statements"). All statements other than statements of
historical fact contained herein are forward-looking statements, including,
without limitation, statements regarding the AE Concrete acquisition and its
impact on the Fund's financial performance and statements regarding the
business strategy, plans and objectives of or involving the Fund or the
businesses in which it has invested. Prospective investors can identify many
of these statements by looking for words such as "believe", "expects", "will",
"intends", "plans", "projects", "anticipates", "estimates", "continues" and
similar words or the negative thereof. There can be no assurance that the
plans, intentions or expectations upon which these forward-looking statements
are based will occur. Although management believes that the expectations
represented in such forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct.
    By their nature, forward-looking statements require assumptions and are
subject to inherent risks and uncertainties, including those discussed herein.
There is significant risk that forward-looking statements will not prove to be
accurate. You are cautioned not to place undue reliance on forward-looking
statements made herein because a number of factors could cause actual future
results, conditions, actions or events to differ materially from the targets,
expectations, estimates or intentions expressed in the forward-looking
statements.
    The future outcomes that relate to forward-looking statements may be
influenced by many factors, including but not limited to: industry
cyclicality; competition; reduction in demand for products; collection from
customers; relationships with suppliers; lack of long-term agreements;
expiration of rights under licence and distribution arrangements; raw material
price volatility; product liability; intellectual property; reliance on key
personnel; environmental; collective bargaining; interest rates; uninsured and
underinsured losses; operating hazards; risks of future legal proceedings;
dependence on other Fund subsidiaries; income tax matters; leverage and
restrictive covenants; credit facilities; nature of units; distribution of
securities on redemption or termination of Fund; restrictions on potential
growth; effect of market interest rates on price of Units; undiversified and
illiquid holdings in Armtec Operating Trust; potential dilution; and various
risks relating to the AE Concrete acquisition, including risks relating to
integration and realization of expected synergies, AE Concrete's reliance on
key personnel, potential undisclosed liabilities associated with the AE
Concrete acquisition, and the Fund's limited recourse against the vendors of
AE Concrete. You are cautioned that the foregoing list of factors is not
exhaustive and that when relying on forward-looking statements to make
decisions with respect to the Fund, investors and others should carefully
consider these factors, as well as other uncertainties and potential events,
and the inherent uncertainty of forward-looking statements.
    The forward-looking statements contained herein are expressly qualified
in their entirety by this cautionary statement. The Fund undertakes no
obligation to publicly update or revise any forward-looking statements except
as expressly required by applicable securities law.
    Risks related to the Fund have been summarized in the Fund's latest
Annual Information Form, Management's Discussion and Analysis included in the
Annual Report and quarterly financial reports available on www.sedar.com or
the Fund's web site at www.armtecincomefund.com.





For further information:

For further information: Charles M. Phillips, President & Chief
Executive Officer, Armtec Limited Partnership, Tel: (519) 822-0210, Fax: (519)
822-8894; James R. Newell, Chief Financial Officer, Armtec Limited
Partnership, Tel: (519) 822-0210, Fax: (519) 822-8894; Carrie Boutcher, Vice
President, Finance, Armtec Limited Partnership, Tel: (519) 822-0210, Fax:
(519) 822-8894

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ARMTEC INFRASTRUCTURE INCOME FUND

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