Date Closed

July 4, 2005

Lead Office

Vancouver

Value

157.00 Million CAD

On July 4, 2005, the Province of British Columbia (Ministry of Transportation and the BC Transportation Financing Authority) and the Okanagan Lake Concession Limited Partnership, a sole purpose limited partnership established by SNC-Lavalin Inc., announced the signing of a C$157 million concession agreement to design, build, finance, operate and maintain the new William R. Bennett Bridge in Kelowna, British Columbia. The agreement also calls for the decommissioning of the existing bridge across Okanagan Lake, which will take eight to ten months to complete once the new bridge is completed in 2008. Construction of the new bridge is already underway and is being carried out by Vancouver-based SNC-Lavalin Constructors (Pacific) Inc. and its joint venture partner, CMIR OKB Holdings Ltd. After the new bridge is completed, SNC-Lavalin Profac Services Inc. will operate and maintain the new bridge for a period of 27 years.

McCarthy Tétrault LLP advised the administrative agent and the lenders with a team led by Byran Gibson.