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IST completes sale of three units in Puerto Rico

Dec 12, 2005

Toronto, Ontario – December 12, 2005: Aecon Group Inc. (TSX: ARE) today announced that its wholly-owned subsidiary, Innovative Steam Technologies (IST), has been awarded a contract by the Puerto Rico Electric Power Authority totaling $9.75 million.

Under the contract IST will design, supply and install three steam injected gas turbine Once Through Steam Generators (STIG-OTSGs). The STIG-OTSGs will recover waste heat from the exhaust of three 80MW gas turbines and produce steam for injection into the gas turbine combustor to reduce nitrogen oxides (NOx) and increase the power output of the turbines.

The STIG-OTSGs will increase the power output of the turbines by as much as 10% and reduce NOx emissions by up to 80%. This sale brings IST's total fleet installation to 105, including 15 STIG-OTSG units. Work on the new units has already begun and the installation is scheduled to be completed in the spring of 2006.

"The performance and emission characteristics of our STIG-OTSG units are a perfect fit with current economic and environmental trends," said Bob Dautovich, President of IST. "High fuel and electricity prices, along with increased pressure to reduce NOx emissions, are combining to create strong market conditions for our STIG-OTSG technology."

Innovative Steam Technologies is the world leader in the design and fabrication of once-through-steam-generators and is a wholly owned division of Aecon Group Inc. Aecon 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.