Winnipeg, Manitoba, Canada − October 22, 2008

(TSX:NFI.UN) New Flyer Industries Inc. (“New Flyer”) the leading manufacturer of heavy-duty transit vehicles in Canada and the United States, has been named as one of the Ten Best Companies to Work For in Canada by the Financial Post.  This award recognizes fast-growing, private sector companies in Canada who offer leading-edge employee benefits and career advancement opportunities.

“We are very pleased to be included in this list.” said Janice Harper, Director of Human Resources for New Flyer.  “We’re continuously looking at what’s working and where we could do a better job in terms of benefits, wellness, job satisfaction, communication and listening, and we are pleased to see our successes have been recognized.”

New Flyer was selected because of its employee development programs and educational assistance, as well as employee events such as staff wellness week and paid days off for birthdays.  Other Top 10 companies include Research in Motion, KPMG LLP, Suncor Energy and Yellow Pages Group.

New Flyer’s Management System, which is the foundation of its Sustainability Policy, has contributed significantly to improving the quality of work life for employees.  Efforts to reduce workplace risk have resulted in a 57% decrease in lost-time accidents over the past three years.  Wellness initiatives such as a bionomics program, fitness events and health clinics have been implemented and employees actively participate in community programs such as business improvement zones, student programs, and charitable and recreational events.  Harper says, “We believe that these initiatives combined help us in building a better product, a better workplace and a better world.”

In addition to this award, New Flyer has also recently received the Canadian Innovation Award by Economic Development Canada, been named a Top 100 Employer in Canada for the fourth consecutive year and has been named as one of Canada’s Most Earth-Friendly Employers.

About New Flyer

New Flyer is the leading manufacturer of heavy-duty transit buses in the United States and Canada.  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 2,300 employees, New Flyer is a technology leader, offering the broadest product line in the industry, including drive systems powered by clean diesel, LNG, CNG, hydrogen fuel cell and electric trolley as well as energy-efficient gasoline-electric and diesel-electric hybrid vehicles.  All products are supported with 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 the Company’s web site at www.newflyer.com.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial, product and operating results of New Flyer that involve risks and uncertainties.  The words “believes”, “anticipates”, “plans”, “expects”, “intends”, “projects”, “estimates” and similar expressions are intended to identify forward‑looking statements.  Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material.  Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including risks and uncertainties inherent in the design, production and operation of new products, market and general economic conditions and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com.  Due to the potential impact of these factors, New Flyer disclaims 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, please contact:

New Flyer Industries Inc.
Glenn Asham
Chief Financial Officer
Tel: 204-224-1251