Second City Capital Partners announces acquisition of shares of Bennett Environmental Inc.

    VANCOUVER, March 7 /CNW/ - Second City Capital Partners I, Limited
Partnership announced today that it has acquired 3,830,955 common shares of
Bennett Environmental Inc. (TSX: BEV; AMEX:   BEL) at a price of $0.75 per
common share pursuant to the rights offering described in Bennett's rights
offering circular dated January 23, 2007. 579,075 of these shares were
acquired through the exercise of rights issued to Second City and 3,251,880 of
these shares were acquired pursuant to Second City's stand-by commitment in
connection with the rights offering. As described in the rights offering
circular, as consideration for the stand-by commitment, Bennett has also
issued to Second City warrants to purchase 1,080,000 common shares. The
warrants may be exercised from March 1, 2008 until March 1, 2010 at an
exercise price of $0.77 per share with respect to 540,000 shares and an
exercise price of $0.87 with respect to the other 540,000 shares.
    The 3,830,955 common shares acquired by Second City represent 14.18% of
the Bennett's 27,018,675 outstanding common shares (after giving effect to
shares issued pursuant to the rights offering and based on information
provided by the Toronto Stock Exchange). Following this transaction, Second
City and joint actors own directly or indirectly or have control or direction
over 6,157,255 common shares representing 22.79% of the 27,018,675 outstanding
common shares.
    The common shares were acquired by Second City for investment purposes.
Second City intends to evaluate its investment in Bennett on an ongoing basis
and may change the nature and extent of its investment in the future.

For further information:

For further information: Further information (including a copy of the
report to be filed with Canadian securities regulators in connection with this
transaction) can be obtained by contacting: Second City Capital Partners I,
Limited Partnership, Johnny Ciampi, Executive Vice President and Chief
Financial Officer, (604) 806-3350

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