Seacliff's Construction Contracting Division Awarded $50 Million Contract by UBC Okanagan in Kelowna, BC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2008) -

Seacliff Construction Corp. ("Seacliff") (TSX:SDC) today announced that Dominion Construction, its construction contracting division, has been awarded the $50 million Construction Management contract for the new Engineering and Management Building at the University of British Columbia Okanagan (UBCO) in Kelowna, British Columbia. The construction of the new facility will commence in the fourth quarter of this year with project completion scheduled for late 2010.

"We are extremely pleased with the selection of Dominion to participate in the expansion of UBC Okanagan for a number of reasons," said Bill Crarer, Seacliff's CEO. "This contract provides an excellent opportunity for Dominion's recently established Kelowna branch to increase our profile in the rapidly growing Okanagan market. We also see it as clear evidence that activity within the institutional construction sector remains strong, despite the recent volatility in global financial markets. And finally, we are proud to play a role in helping provide world-class education and training facilities for residents of the region."

The Engineering and Management Building will comprise 15,028 square metres (186,000 sq. ft.) and house lecture theatres, classrooms, research labs and office space. Construction will be partially funded by a $40 million contribution from the B.C. government. To date, the Province has committed a total of $100 million to UBCO's facilities expansion program, the balance of which will be used to help fund the construction of a Health Sciences Centre and a second Arts and Sciences Building at the campus. In total, UBCO plans to expand its building space from 46,400 sq. m. (0.5 million sq. ft.) to 139,000 sq. m. (1.5 million sq. ft.) by 2010.