FLINT TRANSFIELD SERVICES FINALIZES CONTRACT WITH SUNCOR ENERGY

30 March 2007

Flint Transfield Services today announced it had signed an asset management services contract with Suncor Energy Inc. (“Suncor”) for the provision of asset management services at Suncor’s Fort McMurray, Alberta oil sands operations and its Sarnia, Ontario refinery operation.

The negotiations between Flint Transfield Services and Suncor, previously announced on 6 February 2007, successfully concluded a rolling five-year, performance-based agreement with an anticipated value in excess of Cnd$1 billion (Aud$1.1 billion) in revenues over the initial term.

Flint Transfield Services is 50 per cent owned by Transfield Services with the other 50 per cent being held by Canadian based Flint Energy Services Ltd. Flint Transfield Services utilises the management expertise and world class asset management systems and processes developed by Transfield Services.

The contract includes maintenance shutdown and turnaround services for Suncor’s Fort McMurray oil sands and Firebag in-situ facilities and the Sarnia refinery; contract maintenance services to the oil sands extraction, upgrading and Firebag facilities, and the Sarnia refinery; and site-wide maintenance services at the oil sands operations. Additional services under the contract will include engineering and construction for select sustaining capital projects.

Flint Transfield Services has commenced mobilisation of resources and will continue to ramp up service delivery capacity over the next six months. Flint Transfield Services will assume responsibility for the delivery of maintenance services in Fort McMurray in the third quarter of 2007 and Sarnia late in the fourth quarter of 2007 or early in the first quarter of 2008. All efforts continue to be focused on a smooth transition, and an on-going commitment to safety and reliable operations.

Managing Director and Chief Executive Officer of Transfield Services, Mr Peter Watson, said today: “Transfield Services and Flint Energy have joined together in this exciting new venture with Suncor. Concluding settlement of a contract of this complexity and scale was a major challenge for all parties. That agreement could be reached so expeditiously, reaffirms the promise of ongoing success in the relationship.”

“With a collaborative approach and world’s best practice asset management capabilities in the hydrocarbons industry, we are confident we can deliver on Suncor’s requirements for reduced costs, improved reliability and an ongoing commitment to safety.”

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BACKGROUND

Transfield Services is a leading global provider of operations, maintenance, asset and project management services. In addition, it owns, operates and maintains major infrastructure assets. Transfield Services has more than 18,000 employees working across Australia, New Zealand, the United States, the United Arab Emirates, Qatar, South East Asia, India and Canada. The Company operates across diverse industries including: mining and process; hydrocarbons (working with Caltex and ExxonMobil in Australia, Shell across Australia, New Zealand and Malaysia and with RasGas in the Gulf Region); roads; rail and public transport; water; power; telecommunications; facilities management; and defence. Transfield Services Limited is publicly listed in Australia and included in the S&P/ASX 200 with a turnover of more than A$2 billion. www.transfieldservices.com

Flint Transfield Services is a joint venture between Transfield Services and Flint Energy. It was formed in September 2006 to capture growing asset management and maintenance opportunities in the North American oil sands industry. The joint venture and its operating entities brings Transfield Services’ leading experience in asset management and maintenance of complex systems and technologies together with Flint’s extensive North American hydrocarbons expertise.

Flint Energy Services Ltd. provides a full range of integrated midstream services including construction of oil sands infrastructure, field production services, oil field transportation, process equipment manufacturing, and tubular management for the oil and gas industry. Flint’s operations span the oil and gas producing areas of western North America, from Inuvik in the North West Territories to Mission, Texas on the Mexican border, and are offered through over 60 strategic locations. Flint Energy Services Ltd. is a publicly traded company listed on the Toronto Stock Exchange under the symbol “FES”. www.flintenergy.com

Suncor Energy Inc. is a growing, integrated energy company, strategically focused on developing one of the world’s largest petroleum resource basins – Canada’s Athabasca oil sands. http://www.suncor.com/start.aspx