Aecon announces closing of new senior credit facility

    - New facility increases credit availability and flexibility -

    TORONTO, Aug. 14 /CNW/ - Aecon Group Inc. ("Aecon") (TSX:ARE) announced
today that it has signed new three-year $100 million senior credit facility
that will increase Aecon's total credit availability by approximately
$35 million and improve its flexibility with respect to debt management.
    The new $100 million revolving operating line of credit replaces Aecon's
previous facility, which included a $15 million term debt facility and a
$50 million revolving operating line. The new facility, which expires June 15,
2011, also extends by one year (until December 15, 2009) the expiry date of
the special $25 million Letter of Credit facility that enabled Aecon to
replace guarantees made by Hochtief in connection with certain financial and
performance obligations of the Nathpa Jhakri joint venture in India.
    In addition to increasing Aecon's ready access to capital, the new
facility also improves Aecon's competitive advantage to respond to new
contract opportunities that require performance security in the form of
letters of credit.
    The new credit facility is provided by a syndicate comprised of
Caterpillar Financial Services Limited (CAT) as Co-Lead Arranger and
Administrative Agent, The Toronto Dominion Bank (TD) as Co-Lead Arranger, ABN
AMRO Bank N.V., and National Bank of Canada.
    "This new facility is a positive step forward for Aecon. It further
supplements our strong balance sheet, increases our access to capital and
provides greater flexibility in how we manage our debt," said Scott Balfour,
President and CFO, Aecon Group Inc. "The confidence demonstrated in Aecon by
these four respected leaders in the financial community, particularly in the
context of the current difficulty in the debt markets generally, is also an
important vote of confidence in Aecon's financial strength and positive

    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. Aecon is pleased to be recognized as one of the 50 Best
Employers in Canada as published by Report on Business Magazine.

    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 discussed in greater detail in
the section entitled "Risk Factors and Uncertainties" in Management's
Discussion and Analysis of operating results and Financial Condition for the
year ended December 31, 2007 filed on SEDAR at 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,,

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