Toronto, Ontario – March 17, 2005: Aecon Group Inc. (TSX: ARE) today announced the appointment of two additional independent directors, Mr. Austin Beutel and the Hon. Brian Tobin, to the Aecon Board.
Mr. Beutel is the retired founding Chairman of Beutel, Goodman and Company Ltd., an investment counselling firm and the current Chairman of Oakwest Corporation Limited. Mr. Tobin is the former Premier of Newfoundland and Labrador and a former Minister in the federal cabinet. He is currently a Senior Business Advisor at Fraser Milner Casgrain LLP.
Mr. Beutel served as a Director of Aecon Group Inc. from 1989 to 1993 and from 1997 to 2000. His history with Aecon, his depth of knowledge of the financial markets and his experience as a director of public companies will make him a valuable addition to the Aecon Board.
Mr. Tobin brings to Aecon an understanding of all sectors of the Canadian economy. His background as a provincial Premier and federal Minister of Industry give him particularly useful insight into the challenges of infrastructure development. His exposure to the international markets will add further perspective to the Aecon Board.
"On behalf of our employees and our shareholders, I would like to welcome our new Directors, each of whom will bring a wealth of experience and a fresh outlook to the deliberations of the Board," said John M. Beck, Chairman and CEO, Aecon Group Inc.
At the last Annual Meeting, shareholders voted to allow the increase of the number of directors to enable the appointment of additional independent directors to the Board.
Aecon Group Inc. is Canada's largest publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and internationally.