Rouge Valley project reaches $64 million financial close



    TORONTO, Oct. 4 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that
its Buildings Division has reached financial close of the $63.9 million Phase
I Rouge Valley Health System project and is set to start construction
immediately.
    Pursuant to the Ontario government's alternate financing and procurement
program, Aecon has secured non-recourse debt financing for the project. The
debt will be retired from the $63.9 million contract price, which is to be
paid in full following completion of construction.
    Stonebridge Financial Corporation acted as Aecon's financial advisor, and
financing is being provided by The Manufacturers Life Assurance Company,
London Life Insurance Company, and Industrial Alliance Insurance & Financial
Services Inc.

    
    Construction will begin immediately and is expected to be completed in
    the summer of 2010. The hospital's expansion and redevelopment plan
    includes:

    -   An upgraded and expanded emergency department
    -   Expanded laboratory, mental health and ambulatory care facilities
    -   A new Complex Continuing Care Unit with capacity for 30 beds
    -   The development of diagnostic imaging and cardiac diagnostic areas
    

    "Financial close is a key milestone on the project for both the Rouge
Valley Health System and Aecon Buildings Group," said Robert G. McDonald,
President Aecon Buildings. "We are pleased to be expanding in the field of
healthcare infrastructure, and we're eager to start construction on this
significant project."

    Aecon Group Inc. is Canada's largest publicly traded construction and
infrastructure development company. Aecon and its subsidiaries provide
services to private and public sector clients throughout Canada and
internationally.

    The information in this news release includes certain forward-looking
statements. These statements are based upon assumptions that are subject to
significant risks and uncertainties which are generally described in Section
3.2 "Risk Factors" of Aecon's Annual Information Form available on SEDAR at
www.sedar.com. Although Aecon believes that the expectations reflected in
forward-looking statements are reasonable, it can give no assurance that the
expectations of any forward-looking statements will prove to be correct.

    %SEDAR: 00004778EF




For further information:

For further information: Mitch Patten, Vice President, Corporate
Affairs, Aecon Group Inc., (416) 297-2615, aecon@aecon.com, www.aecon.com


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