Investor Relations | News Centre

Montreal, August 18, 2008 – The GENIVAR Income Fund (“GENIVAR“) is pleased to announce the acquisition of Henderson Paddon & Associates Limited (“Henderson Paddon”), an Ontario-based civil engineering and environmental consulting firm. GENIVAR now has more than 600 employees in Ontario.

“I am very pleased to welcome Henderson Paddon to the GENIVAR team,” said Pierre Shoiry, GENIVAR’s President and CEO. “This acquisition allows us to consolidate our municipal infrastructure, transportation and building engineering expertise. Environmentally sustainable engineering solutions are a key focus for GENIVAR, and Henderson Paddon’s dedication to providing sustainable solutions is consistent with our priorities,” added Mr. Shoiry. ”With this acquisition, GENIVAR has significantly reinforced its national base, adding 70 employees in four new Ontario offices, including Owen Sound, Hanover, Grimsby and Clarksburg. Henderson Paddon has established a solid network by forging long-term client relationships, and that ties in well with GENIVAR’s business model,” he concluded.

”The acquisition of Henderson Paddon represents a step further in GENIVAR’s development. With Henderson Paddon on board, GENIVAR now ranks as one of the leading companies in Ontario’s municipal infrastructure, transportation and building engineering sectors, all of which will be strong markets in the years to come. Indeed, we intend to keep expanding our multidisciplinary teams in all of our market segments,” said Anita Smith, GENIVAR’s Executive Vice-President for Western Ontario. ”In addition to expanding our geographic coverage of the province and our client base, Henderson Paddon brings us additional expertise in the areas of sustainability planning, municipal infrastructure design, environmental and waste management, structural engineering, hydrogeology and construction contract administration“, she added.

“GENIVAR is a great strategic fit because its business model is focused on regional development. It also takes a service-oriented team approach while fostering an entrepreneurial culture,” said Jeff Graham, Henderson Paddon’s President. “GENIVAR’s comprehensive range of expertise across its national network will be a tremendous asset to our clients,” he added. “Joining a recognized multidisciplinary company such as GENIVAR not only increases our financial capabilities, it makes us more versatile. In the long run, that can only benefit our clients. In addition, our employees will enjoy exciting new career opportunities within GENIVAR’s national and international network.”

About Henderson Paddon
Founded in 1972, Henderson Paddon has 70 full time employees at offices in Owen Sound, Hanover, Grimsby and Clarksburg, as well as up to 60 additional people working on contract administration assignments for the Ontario Ministry of Transportation. It also has an extensive list of public and private-sector clients, including numerous Ontario municipalities, various provincial Ministries, First Nation Communities and private clients including Waste Management of Canada, leading land developers and commercial construction clients.

About GENIVAR
As one of Canada’s leading engineering services companies, GENIVAR provides private and public-sector clients with a comprehensive range of consulting services throughout the project cycle, from planning and design to construction and maintenance. The company’s clients operate in a wide variety of market segments, including the building, industrial, power, municipal infrastructure, transportation and environmental sectors. GENIVAR is one of Canada’s largest engineering firms, with more than 3,300 managers, professionals, technicians, technologists and support staff in more than 75 offices across the country and abroad.

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For further information, please contact:

Pierre Shoiry
President and Chief Executive Officer
GENIVAR Income Fund
Phone: (514) 340-0046, ext. 5104

Marlène Casciaro
Director of Communications
GENIVAR Income Fund
Phone: (514) 340-0046, ext. 5184

Anita Smith, P.Eng.
Executive Vice President, Western Ontario
GENIVAR Income Fund
Phone: (905) 475-7270

Jeff Graham, P.Eng.
President
Henderson Paddon & Associates Limited
Phone: (519) 376-7612