Lockerbie & Hole anticipates commencement of trading on the TSX and announces timing of release of first quarter results and conference call


    TSX: LH

    EDMONTON, Aug. 2 /CNW/ - Lockerbie & Hole Inc. ("Lockerbie") anticipates
that its common shares will begin trading on the Toronto Stock Exchange (the
"TSX") with the ticker "LH", when markets open on Wednesday, August 8, 2007,
subject to Lockerbie fulfilling all of the listing requirements of the TSX.
Lockerbie filed a final prospectus in relation to its initial public offering
of 7,317,073 common shares and secondary offering of 5,482,927 common shares
on July 30, 2007. Under the offerings, Lockerbie's common shares are to be
issued and sold at $10.25 per common share for net proceeds to Lockerbie of
approximately $70.5 million (before deducting expenses of the offering). GMP
Securities L.P. and Raymond James Ltd. acted as co-lead agents in connection
with the offerings, together with BMO Nesbitt Burns Inc., TD Securities Inc.,
Blackmont Capital Inc., Cormark Securities Inc. and Peters & Co. Limited as
agents. A copy of Lockerbie's final prospectus for the offerings is available
under Lockerbie's profile on the System for Electronic Data Retrieval (SEDAR)
    Lockerbie will release first quarter fiscal 2008 results prior to
markets' opening on Wednesday, August 8, 2007.
    Gordon L. Panas, President and Chief Executive Officer, and Michael G.
Slapman, Chief Financial Officer, will host a conference call to discuss the
first quarter fiscal 2008 results on Wednesday, August 8, 2007 at 9:00 a.m.
MDT (11:00 a.m. EDT). Interested parties are encouraged to participate by
calling 866.250.4877 or 416.915.5763 (in Toronto, Ontario) at least ten
minutes before the start of the call in order to participate. For those unable
to call in to the live call, a replay will be available up to 14 days after
the event at 416.640.1917 (in Toronto) or 877.289.8525, passcode 21243122
followed by the number sign and on Lockerbie & Hole's website
    This press release is not an offering of securities for sale in the
United States. The common shares to be issued and sold under the offerings
have not been registered under the U.S. Securities Act of 1933, as amended
(the "U.S. Act"), and may not be offered or sold in the United States or to a
U.S. Person (as defined in the U.S. Act) absent registration or an applicable
exemption from the registration requirements. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful.

    About Lockerbie

    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 oilsands, mining, institutional,
municipal and commercial market sectors. Lockerbie is headquartered in
Edmonton, Alberta.

    Forward-Looking Statements Advisory

    This news release contains statements concerning the expected listing of
Lockerbie's common shares, the expected closing of Lockerbie's initial public
offering and secondary offering or other expectations, plans, goals,
objectives, assumptions, information or statements about future events or
conditions that may constitute forward-looking statements or information under
applicable securities legislation. Such forward-looking statements or
information are based on a number of assumptions which may prove to be
incorrect. Assumptions have been made regarding, among other things,
Lockerbie's ability to fulfill the TSX's listing requirements, whether or not
Lockerbie's unionized employees in Alberta will go on strike and the effect of
such a strike on Lockerbie and general economic, business and market
conditions. Although Lockerbie believes that the expectations reflected in
such forward-looking statements or information are reasonable, undue reliance
should not be placed on forward-looking statements because Lockerbie can give
no assurance that such expectations will prove to be correct. The
forward-looking statements are based on Lockerbie's current expectations,
estimates and projections, and are subject to a number of significant risks
and uncertainties that could cause actual results to differ materially from
those anticipated. Such risks and uncertainties include, among others,
Lockerbie's ability to fulfill the TSX's listing requirements, whether or not
Lockerbie's unionized employees in Alberta will go on strike and the effect of
such a strike on Lockerbie, general economic, business and market conditions
and other risks as are detailed from time to time in other continuous
disclosure filings of Lockerbie. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results may vary materially
from those described herein as anticipated, believed, estimated or expected.
These forward-looking statements are made as of the date of this press
release, and Lockerbie assumes no obligation to update or revise them to
reflect new events or circumstances, except as required by applicable laws.

    The Toronto Stock Exchange has neither approved nor disapproved
    the information contained herein.

    %SEDAR: 00025533E

For further information:

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

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