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Bennett Environmental Inc.: BEI Announces Closure of Transaction

^{Published on 2008-12-23 12:08:22, Last Modified on 2008-12-23 12:08:57 - Market Wire}
 

OAKVILLE, ONTARIO--(Marketwire - Dec. 23, 2008) - Bennett Environmental Inc. (TSX:BEV) (the "Company" or "BEI") announced today that it closed the transaction to divest of Trans-Cycle Industries, Ltd. ("TCI") and Material Resource Recovery S.R.B.P. Inc. ("MRR") on December 18, 2008. In addition to the purchase price as announced on October 30 of this year, the Company will receive approximately $3.0 million which is currently held by the Ministry of Environment of Ontario in support of the operating permits for TCI and MRR. These deposits are described in note 7 to Consolidated Financial Statements for the year ended December 31, 2007.

Forward Looking Statements

Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. BEI believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. BEI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Bennett Environmental Inc.

Bennett Environmental Inc. is a North American leader in high temperature treatment services for the treatment of contaminated soil and has provided thermal solutions to contamination problems throughout Canada and the U.S. Bennett Environmental's technology provides for the safe, economical and permanent solution to contaminated soil. Independent testing has consistently proven that the technology operates well within the most stringent criteria in North America. For information, please visit the Bennett Environmental website at: [ www.bennettenv.com ].