Winnipeg, Manitoba, Canada; March 1, 2007

New Flyer Industries Inc. (TSX:NFI.UN), the leading manufacturer of heavy-duty transit vehicles in Canada and the United States, has been awarded a number of bus orders for a wide range of vehicles, including 35-foot, 40-foot and 60-foot buses with diesel, diesel-electric, and compressed natural gas (CNG) propulsion systems. Customers have ordered 1,026 new buses, 821 of which are firm orders and 205 are options, for a total price of almost US $423 Million (an exchange rate of US $1.00 = Cdn $1.17 was used for the Canadian contracts).

Some of the larger orders include:

  • Chicago Transit Authority in Chicago, IL has exercised options for 200 40-foot diesel buses
  • City of Edmonton Transit in Edmonton, AB has exercised options for 231 40-foot diesel buses
  • Connecticut Department of Transportation has exercised options for 67 40-foot diesel buses together with six 35-foot diesel buses
  • Metro Transit of Minneapolis, MN has placed a new order for a base quantity of a combination of 10 diesel and diesel hybrid buses with options for a combination of an additional 55 diesel and diesel hybrid buses
  • Translink in Vancouver, BC has placed a new order for a base quantity of 16 60-foot diesel buses with options for an additional 45 diesel buses
  • The City and County of Honolulu in Honolulu, HI has placed a new order for a base quantity of nine 60-foot diesel buses with options for an additional 47 60-foot diesel buses
  • OC Transpo in Ottawa, ON has exercised options 24 Invero 40-foot diesel buses

During the second half of 2006 New Flyer ramped up production in its facilities by more than 25% to accommodate the anticipated increase in demand.  The ramp-up in production was completed in the first quarter of 2007.

Continued confidence in New Flyer’s products is evidence of the company’s success in providing the most reliable products and the most comprehensive support in the industry.

New Flyer’s existing customers acknowledge the company’s dedication to providing industry-leading products and service.Recently, the Metropolitan Atlanta Rapid Transit Authority (MARTA) presented New Flyer of America Inc., a subsidiary of New Flyer Industries Inc., with the inaugural 2006 Effective Partnership in Quality Medal.  New Flyer was selected as a result of its quality products that exceeded MARTA’s expectations for customer support and its demonstrated quality and safety leadership initiatives.

About New Flyer

New Flyer is the leading manufacturer of heavy-duty transit buses in Canada and the United States. The Company’s three facilities -- in Winnipeg, MB, St. Cloud, MN and Crookston, MN -- are all ISO 9001, ISO 14001 and OHSAS 18001 certified. With a skilled workforce of over 2,100 employees, New Flyer is a technology leader in the heavy-duty transit market, offering the broadest product line in the industry, including drive systems powered by clean diesel, LNG, CNG and electric trolley, as well as energy-efficient gasoline-electric and diesel-electric hybrid vehicles. All of New Flyer’s products are supported by an industry-leading, comprehensive parts and service network. New Flyer’s Income Deposit Securities are traded on the Toronto Stock Exchange under the symbol NFI.UN. Further information is available on Company’s web site at www.newflyer.com and on SEDAR at www.sedar.com.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI and New Flyer Industries Canada ULC (“NFI ULC”) that involve risks and uncertainties. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties detailed in the annual information form filed with the Canadian securities regulatory authorities. Due to the potential impact of these factors, NFI and NFI ULC disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

For further information:
Glenn Asham
Chief Financial Officer
Phone: (204) 224-1251