PORT MANN PROJECT TIMELINES

March 2008: The Transportation Investment Corporation was established to deliver the Port Mann/Highway 1 Project. The Transportation Investment Corporation is a self-sustaining Crown corporation that will enter into an agreement with the joint venture of Peter Kiewit Sons Co. and Flatiron Constructors Canada Limited to design and build the new Port Mann Bridge and Highway 1 widening project.

Aug. 19, 2008: Following a request for proposals (RFP), Connect BC Development Group was selected to enter into negotiations with the provincial government for the Port Mann/Highway 1 project. The Connect BC Development Group team includes the Macquarie Group, Transtoll Inc., Peter Kiewit Sons Co. and Flatiron Constructors Canada Limited. The RFP evaluation was undertaken by an evaluation team including leading experts in highway safety, construction traffic management, highway design and construction, finance, environment, engineering and other technical areas. The RFP for procuring the project explicitly reserved the right for the Province to directly enter into design-build and other contracts with consortium members should a privately financed arrangement not be concluded.

Jan. 28, 2009: An agreement-in-principle for a public-private partnership was reached with Connect BC Development Group to expand the Port Mann crossing and widen Highway 1.

Feb. 4, 2009: Premier Gordon Campbell and Minister Falcon officially launched construction of the new Port Mann Bridge, a single, 10-lane span.

Feb. 27, 2009: The Province and ConnectBC were unable to reach definitive agreement on final terms. The provincial government will enter into a contract with the joint venture of Peter Kiewit Sons Co. and Flatiron Constructers Canada Limited to design and build the new Port Mann Bridge and Highway 1 widening. The Kiewit-Flatiron contract value remains at $2.46 billion.

The Kiewit-Flatiron contract was part of the Connect BC proposal. The works proposed by Kiewit-Flatiron have gone through a rigorous evaluation and meet all of the requirements for the Port Mann/Highway 1 Project. Macquarie Group will remain directly involved in the project, and has been engaged by the Province to provide advice, focusing on the areas of financing and tolling operations where Macquarie is recognized as a world leader.

The Port Mann/Highway 1 project will reduce congestion and travel time, improve safety and accessibility, and allow buses to travel over the Port Mann Bridge for the first time in over two decades. It will also expand networks for HOV, cyclists and pedestrians, and the bridge will be built to accommodate potential future light rapid transit.

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Media contact:	Jeff Knight Ministry of Transportation and Infrastructure 250 356-7707

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