CE Franklin Ltd. Acquires East-Central Alberta Oil Field Equipment Distributor

    CALGARY, Dec. 3 /CNW/ - CE Franklin Ltd. (TSX.CFT, AMEX.CFK) announced
today that it has acquired JEN Supply Inc. ("JEN Supply"). The transaction
will be financed from available bank credit facilities and is expected to be
accretive to CE Franklin shareholders.
    JEN Supply is based in Stettler, Alberta, Canada and operates four oil
field equipment supply stores in east-central Alberta. JEN Supply was founded
in 1997 and has grown profitably, with revenues of approximately $22 million
for the last 12 months. JEN Supply has been acquired on a debt free basis.
    "JEN Supply is a leading supplier to the oil and gas industry in
east-central Alberta with a reputation for quality service," said Michael
West, Chairman, President and CEO. "The combination of JEN Supply and CE
Franklin's operations and talent in the east-central Alberta market will
strengthen CE Franklin's market presence and reach, resulting in improved
customer service capability and operating efficiencies."

    About CE Franklin

    For more than half a century, CE Franklin has been a leading supplier of
products and services to the energy industry. CE Franklin distributes pipe,
valves, flanges, fittings, production equipment, tubular products and other
general oilfield supplies to oil and gas producers in Canada as well as to the
oilsands, refining, heavy oil, petrochemical, forestry and mining industries.
These products are distributed through its 42 branches, which are situated in
towns and cities serving particular oil and gas fields of the western Canadian
sedimentary basin.

    Forward-looking Statements: The information in this news release may
contain "forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934
and other applicable securities legislation. All statements, other than
statements of historical facts, that address activities, events, outcomes and
other matters that CE Franklin plans, expects, intends, assumes, believes,
budgets, predicts, forecasts, projects, estimates or anticipates (and other
similar expressions) will, should or may occur in the future are
forward-looking statements. These forward-looking statements are based on
management's current belief, based on currently available information, as to
the outcome and timing of future events. When considering forward-looking
statements, you should keep in mind the risk factors and other cautionary
statements and refer to the Form 20-F or our annual information form for
further detail.

For further information:

For further information: Mark Schweitzer, Vice President and Chief
Financial Officer, (403) 531-5603, (800) 345-2858, investor@cefranklin.com

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