GENIVAR Income Fund Acquires Phoenix Engineering, Establishing a Presence in Calgary and Positioning GENIVAR as a Key Player in the North American Wind Power Market



    MONTREAL, Feb. 5 /CNW Telbec/ - The GENIVAR Income Fund (GENIVAR) is
pleased to announce the acquisition of Phoenix Engineering Inc. (Phoenix), a
Western Canada-based wind power consulting firm with offices in Calgary and
Montreal. As a result of this acquisition, GENIVAR adds on 40 specialized
employees in wind power and establishes itself in Calgary.
    The firm has over 20 years' experience in the areas of wind resource
monitoring and assessment and wind farm design. Phoenix provides consulting
services to owners and lenders, who collectively operate over 80% of the
installed wind power capacity in Western Canada and nearly 40% nationwide.
    "GENIVAR is now Canada's largest wind power consulting company, offering
a one-stop approach for integrated services in engineering," said
Pierre Shoiry, GENIVAR's President and CEO. "We will offer cutting-edge data
management expertise backed by WindServer(TM) technology, meteorological tower
installation, performance testing, project due diligence, feasibility analysis
and development coordination, as well as providing detailed engineering and
environmental services to our clients across North America," he added.
"GENIVAR further reinforces its wind power centre of excellence, driving
company growth in this market segment. These skills and competencies enable us
to take on a strategic partnership role with our clients in their project
development."
    "Phoenix and GENIVAR have already worked together on a wide range of wind
projects, and we complement each other very well," said David Baker, Phoenix's
President. "Our clients will benefit from synergies created by two like-minded
organizations, while our employees will gain access to exciting new career
opportunities within GENIVAR's expanded network."
    "Joining forces with GENIVAR gives us new momentum and brings us to the
next level of our development," added Mr. Baker, who will serve as GENIVAR's
Vice President of Wind Power. "GENIVAR's business model, with its
entrepreneurial focus, fits perfectly with our own approach. We also share
core values such as service quality and professionalism. The future looks very
bright, with ample team and client development opportunities."

    About Phoenix

    Founded in 1985 by David Baker, Phoenix Engineering Inc.
(www.phoenixengg.com) is a Western Canada-based wind power consulting firm
with over 40 employees at offices in Calgary and Montreal. Phoenix uses
proprietary WindServer(TM) data collection and resource monitoring software,
in addition to custom tower installations, to conduct site selection and
analysis for wind power providers. Phoenix's clients include Suncor Energy,
Shell, Enmax Power, Enbridge, TransCanada, Brookfield, Skypower, TransAlta
Wind, GreenWing Power, Algonquin Power and GW Power/Nexen.

    About GENIVAR

    GENIVAR is one of Canada's leading engineering services companies,
providing both private and public-sector clients with a full range of
consulting services throughout the project cycle, from planning and design to
construction and maintenance. Its clients operate in various market segments,
including the building, industrial, power, urban infrastructure,
transportation and environmental sectors. GENIVAR is one of Canada's largest
engineering services companies by number of employees, with more than
2,400 managers, professionals, technicians, technologists and support staff in
some 45 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, ext. 100; David Baker, P.Eng., MCP, President, Phoenix Engineering
Inc., (403) 248-9463

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GENIVAR Inc.

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