CCS Corporation Announces the termination of its Tender Offer and its Proposed Financing Transactions

CALGARY, June 21, 2011 /CNW/ - CCS Corporation (f/k/a CCS Inc., the "Company") announced today that, due to adverse market conditions, it has terminated its previously announced CN$675 million (equivalent) senior notes offering.  As a result, the Company also announced that it terminated its tender offer for any and all of its US$312.0 million aggregate principal amount outstanding of 11.000% Senior Notes due 2015 (the "Senior Notes") made by the Company pursuant to the terms and subject to the conditions set forth in the Offer to Purchase, dated June 13, 2011, and the accompanying Letter of Transmittal. The Company has also determined to terminate the related repurchase of its US$299.9 million aggregate principal amount outstanding of 11.000% Senior Subordinated Notes due 2015 in a private transaction.

As a result of the termination, all of the Senior Notes previously tendered will be promptly returned to the holders thereof (or, in the case of Senior Notes tendered by book-entry transfer, will be credited to the account maintained at The Depository Trust Company from which such Senior Notes were delivered), and the tender offer consideration will not be paid to holders who have tendered their Senior Notes.

Persons with questions regarding the termination of the tender offer related to the Senior Notes should contact Goldman, Sachs & Co. at (800) 828-3182 or collect at (212) 855-9063.  Requests for documents should be directed to D.F. King & Co., Inc., the Information Agent and Depositary for the tender offer, at (212) 269-5550 (for banks and brokers) or (800) 859-8508 (for noteholders).

This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to, any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements.  The forward-looking statements contained herein include statements about our expectations for the proposed debt financing and our ability to successfully effect the foregoing. These statements are subject to the general risks inherent in our business and in the credit markets and reflect our current expectations regarding these matters. These expectations may or may not be realized. Some of these expectations may be based upon assumptions or judgments that prove to be incorrect. The forward-looking statements are only as of the date made, and CCS Corporation does not undertake any obligation to (and expressly disclaims any obligation to) update any forward looking statements to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events.


SOURCE CCS Corporation

For further information:

Greg Duerr
Vice President Finance & Treasurer
(403) 718-1234
gduerr@ccscorporation.ca

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CCS Corporation

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