/R E P E A T -- BURNCO to divest its shares in BURNCO Concrete Products Ltd to Armtec/

    CALGARY, July 21 /CNW/ - BURNCO Group of Companies ("BURNCO") today
announced it has entered into an agreement to divest its shares in wholly
owned subsidiary BURNCO Concrete Products Ltd ("BCPL") to Armtec
Infrastructure Income Fund (the "Fund") (TSX: ARF.UN). The sale price payable
for BCPL is approximately $50 million, excluding transaction costs and working
capital adjustments. The closing of the transaction is expected to occur on or
about July 31, 2008. Closing of the transaction is conditional on a number of
matters typical of a transaction of this type, including certain regulatory
    "The sale of BCPL represents the best opportunity to meet the growth
aspirations for this subsidiary of BURNCO," said Scott Burns, BURNCO's Chief
Executive Officer. "We are particularly pleased that BCPL is now positioned
for future success and that the transaction was accomplished in a manner that
allows a win-win scenario for employees, customers, suppliers, and the public
at large. The post-closing proceeds will be conservatively employed by our
go-forward companies to enhance their respective competitive positions in
their marketplaces."
    All other BURNCO subsidiaries remain intact, have not been sold and are
not for sale.

    BURNCO is a fourth generation family business established in Calgary
Alberta, Canada in 1912 by James F. Burns. Today BURNCO is a major supplier of
high quality concrete, concrete products, asphalt, aggregate and packaged
products in Western Canada.
    For more information, visit <A HREF="http://www.burnco.com">www.burnco.com</A>

    The information was submitted for publication on July 21, 2008, at MDT
11:30 am. This news release contains certain statements that constitute
forward-looking information within the meaning of applicable securities laws
("forward-looking statements"). All statements other than statements of
historical fact contained herein are forward-looking statements, including,
without limitation, statements regarding the BCPL divestiture and statements
regarding the business strategy, plans and objectives of or involving BURNCO.
There can be no assurance that the plans, intentions or expectations upon
which these forward-looking statements are based will occur. Although
management believes that the expectations represented in such forward-looking
statements are reasonable, there can be no assurance that such expectations
will prove to be correct.
    By their nature, forward-looking statements require assumptions and are
subject to inherent risks and uncertainties, including those discussed herein.
There is significant risk that forward-looking statements will not prove to be
accurate. You are cautioned not to place undue reliance on forward-looking
statements made herein because a number of factors could cause actual future
results, conditions, actions or events to differ materially from the targets,
expectations, estimates or intentions expressed in the forward-looking

For further information:

For further information: Mark Hobbs, Marketing Manager, Phone: (403)
640-9244, E-mail: mark.hobbs@burnco.com

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