New Flyer Named to Top 100 Employers in Canada for Second Consecutive Year

Winnipeg, Manitoba, Canada; October 10, 2006;

New Flyer was selected from over 60,000 employers across Canada as part of an annual survey conducted by Mediacorp Canada Inc., publisher of the book Canada’s Top 100 Employers. Mediacorp developed a list of outstanding employers that lead their industries in attracting and retaining quality employees. Over 1,500 employers began the Top 100 application process.

The companies were evaluated based on seven key attributes: Physical Workplace; Work Atmosphere & Social; Health, Financial & Family Benefits; Vacation & Time Off; Employee Communications; Performance Management; and Training & Skills Development. In addition, charitable efforts and community involvement were also examined, since a strong correlation has been observed between charitable work and how an employer treats its own employees.

"This is a great achievement and we are honored to be listed again," said New Flyer President and CEO John Marinucci. "The Top 100 Employers designation is important to us because it demonstrates that our efforts to create a working environment focused on safety, health and quality have been successful in making us an employer of choice."

According to Janice Harper, Director, Human Resources, the company’s continued success in this area is a direct result of New Flyer’s commitment to developing a culture that values, develops and rewards employees. "Over the past four years, we have implemented industry-leading management systems, increased our levels of community involvement, and increased awareness levels for training, benefits and development opportunities among our employees. This honor is really a tribute to our employees – in addition to making us a leader in the transit industry, they have helped us make New Flyer a great place to work."

Ms. Harper also credits continued corporate focus on workplace practices as key to New Flyer’s recognition in this year’s rankings. Noteworthy workplace practices at New Flyer include unique employment opportunities, company-paid benefits, numerous social and fundraising events, company recognition of safety achievements and distinctive continuing education and professional development. "The fact is, the company already had excellent benefit programs and innovative workplace policies. But, we have been more successful in promoting ourselves within the company and in our recruitment activities, which has allowed us to recruit and maintain a high quality employee base. And as a result of our workplace programs, we have been rewarded with lower-than-industry average turnover rates, which is a significant advantage to New Flyer’s business," said Ms. Harper.

Maclean's magazine has published a cover story on this year's competition in its October 13 issue, which will appear on newsstands this week.

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 1,900 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 vehicles 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 the Company’s website at www.newflyer.com.

This press release contains forward-looking statements relating to expected future events and financial and operating results of NFI and NFI ULC that involve risks and uncertainties. Words such as "believes", "expects", "anticipates", "plans", "intends", "projects", "estimates" and similar expressions are intended to identify forward-looking statements. 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, including, but not limited to, the risks and uncertainties detailed in the public filings made with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com. 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