Mr. Iggy Domagalski reports

WAJAX ACQUIRES BETA FLUID POWER AND BETA INDUSTRIAL

Wajax Corp. has acquired all of the issued and outstanding shares of Sault Ste. Marie, Ont.-based Beta Fluid Power Ltd. and Beta Industrial Ltd. Beta Fluid is a leading regional supplier of hydraulic and pneumatic equipment for use in the industrial, mining and construction sectors. It also offers hydraulic and pneumatic maintenance, and repair and replacement services, including mobile services. Beta Industrial provides a wide range of on-site facility repair and maintenance services to local and regional customers. Together, Beta Fluid and Beta Industrial employ a team of approximately 42 full-time employees.

"Since 1997, the Beta team has developed a reputation for dependability and excellent customer service, and we are very pleased to welcome them to the growing Wajax family," said Iggy Domagalski, president and chief executive officer of Wajax. He continued: "Through acquisitions such as Beta, and our recently completed Polyphase Engineered Controls acquisition in Alberta, we continue to execute our industrial parts and engineered repair services growth strategy, adding sought-after technical capabilities and expanding the services we offer to customers across the country. We look forward to further additions to our industrial parts and engineered repair services portfolio as we continue to develop our acquisition pipeline."

The transaction will be subject to normal postclosing adjustments.

Wajax Corp.

Founded in 1858, Wajax is one of Canada's longest-standing and most diversified industrial products and services providers. The corporation operates an integrated distribution system providing sales, parts and services to a broad range of customers in diverse sectors of the Canadian economy, including construction, forestry, mining, industrial and commercial, oil sands, transportation, metal processing, government and utilities, and oil and gas.

The corporation's goal is to be Canada's leading industrial product and service provider, distinguished through its three core capabilities: sales force excellence, the breadth and efficiency of repair and maintenance operations, and the ability to work closely with existing and new vendor partners to constantly expand its product offering to customers. The corporation believes that achieving excellence in these three areas will position it to create value for its customers, employees, vendors and shareholders.

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