News
Armtec Infrastructure Income Fund Expands Quebec Market Presence with Agreement to Acquire Leading Precast Concrete Manufacturer
April 28, 2009

GUELPH, ONTARIO, April 28, 2009 - Armtec Infrastructure Income Fund (the "Fund") (TSX: ARF.UN) today announced that it has signed an agreement to acquire the assets of Groupe Tremca Inc. ("Groupe Tremca") for approximately $45 million. The transaction is expected to close in early May 2009 subject to the satisfaction of customary closing conditions.

Based in Saint-Jean-Sur-Richelieu, Quebec, Groupe Tremca is a market leader in the manufacture of precast concrete and infrastructure products in Quebec. Groupe Tremca's product specialties include concrete pipes, architectural and structural elements, highway noise barriers, retaining walls and precast amenities and steps.

The transaction will be funded in part by a $33 million increase in the Fund's committed Credit Facilities, which is being provided by its existing syndicate of banks. The balance will be funded by utilizing existing unused revolving Credit Facilities. Certain of the financial covenants will also be amended to reflect the changes in the Credit Facilities. In connection with the acquisition, the Fund will also issue special warrants to Groupe Tremca, the value of which is dependent on the value of the units of the Fund and shall not exceed $4.0 million.

"Groupe Tremca's addition to our Con-Force division will significantly strengthen the Fund's competitive position in the Quebec marketplace, which is one of the most active infrastructure markets in the country" said Charles Phillips, the Fund's President and Chief Executive Officer. "We expect this acquisition to be immediately accretive to earnings and distributable cash flow. The transaction together with our recent equity issuance and the amended terms of the Credit Facilities, will add to the financial strength and flexibility of the Fund going forward."

"With annual sales of approximately $28 million and 180 employees, Groupe Tremca is a well-established Quebec business with a solid reputation and a gifted management team. The Groupe Tremca product line is complementary to ours and will significantly enhance the Con-Force division's product offering to customers in Quebec."

"With today's announcement, Groupe Tremca and its employees are pleased to join Armtec Infrastructure Income Fund so that we can continue to grow our business and strengthen the Fund's precast market position in Quebec," said Eric Caron, President, Groupe Tremca. "This transaction provides a strong platform for Groupe Tremca and the Fund to grow in the region, ensuring a solid future for the Groupe Tremca brand, its employees and customers. I am confident that our collaboration will deliver an enhanced competitive presence in Quebec's precast concrete markets, and that together we will strengthen our market position in the region."

National Bank Financial Inc. acted as exclusive financial advisor to Armtec Infrastructure Income Fund on the acquisition of Groupe Tremca.

About Armtec Infrastructure Income Fund

The Fund is a leading manufacturer and marketer of a comprehensive range of infrastructure products and engineered construction solutions for customers in a diverse cross-section of industries that are located in every region of Canada, as well as in selected markets in North America and worldwide. These markets include Canada's national and regional public infrastructure markets and private sector markets in agricultural drainage, commercial building, residential construction and natural resources. Operating through its three divisions and with a network of offices and production facilities across the country, the Fund is Canada's only national multi-material manufacturer. The Armtec Division specializes in high density polyethylene and corrugated steel pipe products for drainage and bridge applications, and water management systems. The Con-Force Division offers a wide variety of precast and pre-stressed concrete products and includes advanced construction components and high-value engineered solutions to large project customers. The Durisol Division provides a full suite of highway noise barriers and related infrastructure products to the transportation sector. Armtec Infrastructure Income Fund is listed on the TSX under the ARF.UN symbol. For more information, please visit www.armtecincomefund.com.

Forward-Looking Statements
This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). All statements other than statements of historical fact contained herein are forward-looking statements, including, without limitation, statements regarding the Groupe Tremca acquisition and its impact on the Fund's financial performance and statements regarding the business strategy, plans and objectives of or involving the Fund or the businesses in which it has invested. Prospective investors can identify many of these statements by looking for words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.

By their nature, forward-looking statements require assumptions and are subject to inherent risks and uncertainties, including those discussed herein. There is significant risk that forward-looking statements will not prove to be accurate. You are cautioned not to place undue reliance on forward-looking statements made herein because a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.

The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: industry cyclicality; competition; reduction in demand for products; collection from customers; relationships with suppliers; lack of long-term agreements; expiration of rights under licence and distribution arrangements; raw material price volatility; product liability; intellectual property; reliance on key personnel; environmental; collective bargaining; interest rates; uninsured and underinsured losses; operating hazards; risks of future legal proceedings; dependence on other Fund subsidiaries; income tax matters; leverage and restrictive covenants; credit facilities; nature of units; distribution of securities on redemption or termination of Fund; restrictions on potential growth; effect of market interest rates on price of Units; undiversified and illiquid holdings in Armtec Operating Trust; potential dilution; and various risks relating to the Groupe Tremca acquisition, including risks relating to integration and realization of expected synergies, Groupe Tremca's reliance on key personnel, potential undisclosed liabilities associated with the Groupe Tremca acquisition, and the Fund's limited recourse against the vendors of Groupe Tremca. You are cautioned that the foregoing list of factors is not exhaustive and that when relying on forward-looking statements to make decisions with respect to the Fund, investors and others should carefully consider these factors, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements.

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The Fund undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities law.

Risks related to the Fund have been summarized in the Fund's latest Annual Information Form, Management's Discussion and Analysis included in the Annual Report and quarterly financial reports available on www.sedar.com or the Fund's web site at www.armtecincomefund.com.

For more information, please contact:
Charles M. Phillips
President & Chief Executive Officer
Armtec Limited Partnership
Tel: (519) 822-0210
Fax: (519) 822-8894

James R. Newell
Chief Financial Officer
Armtec Limited Partnership
Tel: (519) 822-0210
Fax: (519) 822-8894

Carrie Boutcher
Vice President, Finance
Armtec Limited Partnership
Tel: (519) 822-0210
Fax: (519) 822-8894

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