New Flyer Receives 845 Bus Orders Valued at US $484 Million

    WINNIPEG, Oct. 14 /CNW/ - New Flyer Industries Inc. (TSX:NFI.UN) ("New
Flyer" or the "Company"), the leading manufacturer of heavy-duty transit
vehicles in Canada and the United States, announced today that it has received
orders over the last three months for up to 845 buses (1,162 equivalent
production units or "EUs") for a combined value of US $484 million. Of these
orders, 584 buses (784 EUs) are new orders and 261 (378 EUs) are exercised
options. These orders, when combined with previously-reported orders, bring
the total number of buses ordered in 2008 to 3,332 (4,278 EUs) for a total of
US $1.78 billion in sales.
    These orders are for a variety of vehicle configurations, including 35-,
40- and 60-foot buses with clean diesel, hybrid, and compressed natural gas
(CNG) propulsion systems.
    Omnitrans in San Bernardino, CA has ordered up to 274 40-foot CNG buses
(total firm orders and options). With this order, Omnitrans has ordered a
total 431 CNG buses from New Flyer making it one of the largest natural gas
fleets in North America.

    Other bus orders recently awarded to New Flyer include:

    -   ABQ Ride in Albuquerque, NM has ordered six 60-foot diesel hybrid
        buses (12 EUs) with options for 94 additional buses (188 EUs) and 32
        40-foot diesel hybrid buses with options for 68 additional buses

    -   Chicago Transit Authority in Chicago, IL has exercised options for 58
        60-foot diesel hybrid buses (116 EUs)

    -   King County Metro Board of Directors in Seattle, WA has approved
        additional options for 36 60-foot diesel hybrid buses (72 EUs)

    -   Winnipeg Transit in Winnipeg, MB has exercised options for 33 40-foot
        diesel buses

    -   Southwest Ohio Regional Transit Authority in Cincinnati, OH has
        exercised options for 32 40-foot diesel buses

    -   Other new contracts and exercised options total 205 buses (328 EUs).

    New Flyer's backlog as of the end of September 2008 was 7,975 EUs, which
represents an increase of 15% in comparison to the 6,916 EUs in backlog at
January 1, 2008. The value of the order backlog as of the end of September
2008 of US $3.4 billion has increased by 20% compared to the US $2.8 billion
backlog at the start of 2008. The portion of firm orders included in the
backlog is US $1.2 billion as of the end of September 2008, consistent with
the US $1.2 billion amount at January 1, 2008.

    NOTE: All dollar amounts are stated in US currency based on an exchange
    rate of US $1.00 = Cdn $1.03 to calculate the value of the
    Canadian contracts in this release.

    About New Flyer

    New Flyer is the leading manufacturer of heavy-duty transit buses in the
United States and Canada. The Company's three facilities -- in Winnipeg, MB,
St. Cloud, MN and Crookston, MN -- are all ISO 9001, ISO 14001 and OHSAS 18001
certified. With a skilled workforce of approximately 2,300 employees, New
Flyer is a technology leader, offering the broadest product line in the
industry, including drive systems powered by clean diesel, LNG, CNG and
electric trolley as well as energy-efficient gasoline-electric and
diesel-electric hybrid vehicles. All products are supported with an
industry-leading, comprehensive parts and service network. New Flyer's Income
Deposit Securities are traded on the Toronto Stock Exchange under the symbol
NFI.UN. Further information is available on Company's web site at

    Forward-Looking Statements

    This press release may contain forward-looking statements relating to
expected future events and financial and operating results of New Flyer and
New Flyer Industries Canada ULC ("NFI ULC") that involve risks and
uncertainties. Although the forward-looking statements contained in this press
release are based upon what management believes to be reasonable assumptions,
investors cannot be assured that actual results will be consistent with these
forward-looking statements, and the differences may be material. Actual
results may differ materially from management expectations as projected in
such forward-looking statements for a variety of reasons, including market and
general economic conditions and the other risks and uncertainties discussed in
the materials filed with the Canadian securities regulatory authorities and
available on SEDAR at Due to the potential impact of these
factors, New Flyer and NFI ULC disclaim any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, unless required by applicable law.

For further information:

For further information: New Flyer Industries Inc., Glenn Asham, Chief
Financial Officer, Tel: (204) 224-1251

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