GENIVAR Income Fund Acquires Peterson Galloway, a British Columbia-Based Firm, and Further Strengthens its Building Group



    MONTREAL, June 26 /CNW Telbec/ - The GENIVAR Income Fund (GENIVAR) is
pleased to announce the acquisition of Peterson Galloway Ltd. (Peterson
Galloway), based in Victoria, British Columbia.
    "I am very pleased to welcome Peterson Galloway into GENIVAR's team,"
said Pierre Shoiry, GENIVAR's President and CEO. "Peterson Galloway provides
comprehensive structural engineering design and consulting services and has
developed cutting-edge solutions in the areas of green buildings and seismic
design. The firm also complements our British Columbia building engineering
team. It has a solid client base and is an important provider of engineering
services to educational, institutional, governmental and commercial clients
throughout the province," he added. "This acquisition represents another step
forward in expanding our national platform in the building sector, including
our green building centre of excellence. Moreover, it enhances our operations
on Vancouver Island."
    "These are exciting times for GENIVAR. Indeed, we are on our way to
becoming one of B.C.'s most prominent multidisciplinary engineering firms,"
said J. Rob Harmer, GENIVAR's Vice-President for Western Canada. "Peterson
Galloway is committed to environmentally sensitive and sustainable engineering
projects and is continuously advancing its structural designs," he added.
"Over the past 25 years, Peterson Galloway has completed a large number of
significant buildings in British Columbia and has a reputation for innovation
and the application of leading-edge technologies. The firm has been a leader
in sustainable design practices and has completed numerous LEED Gold projects,
including the Vancouver Island Technology Park - the first project in Canada
to be certified LEED Gold by the U.S. Green Building Council," concluded
Mr. Harmer.
    "We are very pleased to be joining one of Canada's most dynamic
engineering consulting companies," said Chris Peterson, Peterson Galloway's
President. "This move puts us in a better position to offer additional
services to our client base. It gives us access to extensive financial
resources together with an impressive network of professionals across Canada.
GENIVAR's business approach, which promotes the establishment of specialised
local offices, will allow us to continue providing responsive client services
while creating opportunities for growth. Jim Galloway and I look forward to
developing our GENIVAR team and enhancing our client base," added
Mr. Peterson.
    The effective date of the transaction will be June 30, 2008 and is
subject to customary conditions.

    About Peterson Galloway Ltd.

    Peterson Galloway Ltd. was founded in 1999, bringing together the
resources of three long-standing Victoria-based structural consulting
practices. The firm has 16 employees and provides comprehensive structural
engineering services from concept to commissioning. It has developed extensive
experience in heritage buildings and seismic upgrades and design, as well as
in green building initiatives. Peterson Galloway's clients include the
University of Victoria, Royal Roads University, various School Districts, the
Provincial Government, Public Works and Government Services Canada, the
Department of National Defence, as well as many clients in the commercial,
residential, healthcare and recreation sectors.

    About GENIVAR

    GENIVAR is a leading Canadian engineering company providing private and
public-sector clients with a comprehensive range of consulting services
through all project phases, from planning and design to construction and
maintenance. Its clients operate in a wide range of market segments, including
the building, industrial, power, municipal infrastructure, transportation and
environmental sectors. GENIVAR is one of Canada's largest engineering services
companies in terms of number of employees with 3,000 managers, professionals,
technicians, technologists and support staff at more than 60 offices in Canada
and abroad (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; Chris Peterson, P. Eng., President, Peterson Galloway Ltd., (250)
388-5312

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