GENIVAR Income Fund Acquires Bullock Baur, a British Columbia Municipal Infrastructure Firm



    MONTREAL, June 9 /CNW Telbec/ - The GENIVAR Income Fund (GENIVAR) is
pleased to announce the acquisition of Bullock Baur Associates Ltd., ("Bullock
Baur"), a British Columbia-based firm specialising in civil and municipal
engineering services.
    "I am very pleased to welcome Bullock Baur onto GENIVAR's team," said
Pierre Shoiry, President and CEO of GENIVAR. "The acquisition of Bullock Baur
expands our expertise in the municipal infrastructure market in British
Columbia. This firm is known for its excellent services and, has a solid
client base throughout Vancouver Island," said Pierre Shoiry, President and
CEO of GENIVAR.

    Bullock Baur was founded in 1974 and currently has 23 employees at its
office in Victoria. With a primary focus on serving municipalities, First
Nations, private developers as well as federal and provincial clients in
British Columbia, Bullock Baur serves major clients which include: City of
Victoria, District of Saanich, City of Colwood, Capital Regional District,
Defence Construction Canada, Snuneymuxw Nation, Olympic View Developments, BC
Hydro, First Nations' Emergency Services, Penelakut Tribe and TimberWest.

    "This acquisition is strategic in British Columbia where GENIVAR now has
a multidisciplinary team of some 100 employees," said J. Rob Harmer, Vice
President for Western Canada. "We plan to continue to grow our team through
strategic acquisitions and dynamic organic growth," added Mr. Harmer.
    "For Bullock Baur, joining GENIVAR gives us new momentum as it takes us
to the next level of our development," commented Tony Baur, President of
Bullock Baur. "It enables us to work on more significant and complex projects.
This will also allow us to attract other firms and additional personnel to
GENIVAR. GENIVAR's entrepreneurial culture, its decentralised business model
which emphasizes a local approach, the magnitude and dynamism of the firm,
and, access to its Canadian network built a strong business case for the
merger," explained Mr. Baur. "Working together, we foresee tremendous
opportunities for developing our team and clientele," he added.

    About GENIVAR

    GENIVAR is a leading Canadian Engineering Services firm providing private
and public sector clients with a comprehensive range of professional
consulting services through all execution phases of a project including
planning, design, construction and maintenance. Clients fall into various
market segments such as building, industrial and power, urban infrastructure,
transportation and environment. GENIVAR is one of the largest Engineering
Services firm in Canada with more than 2,800 managers, professionals,
technicians and technologists and support staff in more than 60 offices in
Canada and internationally. www.genivar.com




For further information:

For further information: Pierre Shoiry, President and Chief Executive
Officer, GENIVAR Income Fund, (514) 340-0046, ext. 5104; Marlène Casciaro,
Director of Communications, GENIVAR Income Fund, (514) 340-0046, ext. 5184; J.
Rob Harmer, MBA, Vice-President, Western Canada, GENIVAR Income Fund, (604)
736-5421; John Sturdy, P.Eng., Vice President, Bullock Baur Associates Ltd.,
(250) 386-2521

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GENIVAR Inc.

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