Lockerbie & Hole announces new surety agreement

    TSX: LH

    EDMONTON, Nov. 6 /CNW/ - Lockerbie & Hole Inc. ("The Company" or
"Lockerbie") announced today that it has entered into a surety agreement with
Travelers Guarantee Company of Canada. The surety facility allows Lockerbie to
obtain project bonding for at-risk construction projects to an aggregate
amount of $500,000,000.
    The surety facility will enable Lockerbie to better serve its clients in
the infrastructure segment not only by providing another form of project
security, but also by enabling the Company to bid on projects that stipulate
bonding is mandatory.

    About Lockerbie & Hole

    Lockerbie was founded in 1898 and is one of the largest mechanical
construction contractors in Canada. Lockerbie is a multi-disciplined
contractor providing mechanical, electrical, instrumentation, pipe
fabrication, module assembly, boiler erection, insulation and civil
construction services primarily to the oil sands, mining, institutional,
municipal and commercial market sectors. Lockerbie is headquartered in
Edmonton, Alberta.

    %SEDAR: 00025533E

For further information:

For further information: Gordon L. Panas, President & Chief Executive
Officer, Michael G. Slapman, Chief Financial Officer, Telephone: (780)
452-1250, Fax: (780) 452-1284, Website:

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