CE Franklin Ltd. announces signing of Purchase and Sale Agreement to acquire Full Tilt Field Services Limited

    CALGARY, June 28 /CNW/ - CE Franklin Ltd. (TSX.CFT, AMEX.CFK) announced
that it has signed a Purchase and Sale Agreement to acquire the shares of Full
Tilt Field Services Limited, a private company located in Lloydminster, SK.
The acquisition is expected to close in the next few days.
    Full Tilt provides mechanical sales and service to the energy industry
and operates a fleet of service vehicles. Full Tilt also provides
installation, sales and service of Articulating Cranes as well as fabricating
and modifying service truck bodies.
    CE Franklin will now begin the integration of the two companies'
    "The acquisition of Full Tilt will help CE Franklin diversify its service
offering to the energy industry," said Michael West, Chairman, President and
CEO. "Full Tilt has built a solid reputation and track record that integrates
well with CE Franklin in our move forward to creating more value to all

    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. 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. In addition, the Company distributes pipe, valves, flanges
and fittings to the oilsands, refining, heavy oil and petrochemical industries
and non-oilfield related industries such as the forestry and mining
    We serve our customers through an extensive network of branches, managed
customer warehouses and offsite inventory stocking locations. All are
connected by state-of-the-art technology that offers our customers an
efficient supply chain management system.
    Shares of CE Franklin trade on the Toronto Stock Exchange under the
symbol "CFT" and on the American Stock Exchange under the symbol "CFK." Smith
International, Inc., the parent company of CE Franklin's North American
partner Wilson Supply, owns approximately 52% of the Company's outstanding

For further information:

For further information: Investor Relations, 1-800-345-2858, (403)
531-5604, investor@cefranklin.com

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