New Flyer and Girardin Proudly Present the New Innovative Alternative for Public Transit: The State-of-the-Art Xcelsior Buses

Varennes, Quebec, April 12, 2012—(TSX: NFI, TSX: NFI.UN) New Flyer Industries Canada ULC, an operating subsidiary of Winnipeg-based New Flyer Industries Inc. (“New Flyer”), in partnership with A. Girardin inc. (“Girardin”), are pleased to present today the Xcelsior bus which will set new standards for public transit in Quebec and may shortly become the new alternative for a wider range of users. New Flyer and Girardin are also pleased to advise that they participated in the latest request for proposal from Montreal’s STM and nine other Quebec transit agencies, meeting all technical, Canadian content and financial requirements. They are looking forward to seeing the Xcelsior’s expanded presence in Montreal and on the province’s roads.

“The contract in Sorel-Varennes is just a first step on our roadmap to becoming the new leader in a strong segment of this market, just as we had anticipated when we established our alliance with New Flyer,” said Michel Daneault, Vice-President of Girardin. “We are honoured to be a part of today’s event and to be, by way of our partnership with New Flyer and the agreement with the CIT and TransBus, part of this community. We look forward to offering the same high quality product and service to other agencies and cities across Quebec.”

“We wanted to come up with a bus that matches or exceeds passengers’ and drivers’ needs as well as transit systems’ needs in terms of operating and maintenance costs and we strongly believe we have achieved this goal,” said Mark Brager, Director of Sales for New Flyer. “Now, we are waiting to see if the STM in Montreal and the other transit agencies, through the AVT, will embrace this state-of-the-art alternative.”

The benefits of this high-quality bus, with its lightweight design, robust structure, enhanced styling and passenger experience, unique maintenance features as well as a low operating cost profile, will definitely appeal to users and operators. Additionally, Xcelsior is the first transit bus in North America to have LED headlights and an electronic instrument panel. Furthermore, in respect to the ongoing bid with the STM, the bus was enhanced with a stainless steel frame to be compliant with all specifications and
to best meet the customer’s needs.

“The new-look bus comes equipped with enhanced features to improve the passenger and driver experience and is made with lightweight materials and the latest emission control engine design to improve fuel efficiency and to run quieter than conventional buses,” added Mr. Brager. “The vehicle was designed to be a best-in-class bus and incorporates many new, innovative features. It also underwent rigorous field testing and received enthusiastic reviews. They are intelligently designed buses that bring more lifetime value to the transit operator than competing buses, and indeed better than New Flyer’s own previous models. We look forward to making the Xcelsior available to other communities in Quebec,” he added.

In regards to the Sorel-Varennes agreement, New Flyer is delivering the latest-generation 40-foot Xcelsior model buses, powered by clean, efficient diesel engines. A. Girardin Inc. of Drummondville, QC provides local pre-delivery inspection services, field support, training and parts support.

“The CIT Sorel-Varennes and the TransBus Group are very pleased to have selected select New Flyer’s Xcelsior bus and the launch of this new fleet has been extremely well received from users,” said Stéphane Tremblay, President of TransBus. “By going forward with New Flyer and Girardin, we are confident that we are offering the latest-generation and best-value bus there is.”

New Flyer, the leading manufacturer of heavy-duty transit buses in Canada and the United States, and its strategic partner in Quebec, Girardin, are proud to make inroads into the Quebec market and confident that many other communities will follow and opt for this value-added transit alternative. The two companies entered into a long term distribution agreement in May 2011. Girardin, a manufacturer of school and shuttle buses and distributor for several other brands of medium-duty buses, has been appointed as New Flyer’s exclusive distributor of transit buses in Quebec and to a range of private bus operators across Canada.

About New Flyer

New Flyer is the leading manufacturer of heavy-duty transit buses in Canada and the United States. With a skilled workforce of over 2,000 employees, New Flyer is a technology leader, offering the broadest product line in the industry, including drive systems powered by clean diesel, LNG, CNG, electric trolley, energy-efficient diesel-electric hybrid as well as hydrogen fuel cells. All products are supported by an industry-leading, comprehensive parts and service network. The Company’s common shares trade under the symbol NFI and income deposit securities are traded under the symbol NFI.UN, both on the Toronto Stock Exchange. Further information is available on New Flyer’s website, at www.www.newflyer.com.

About Girardin

For more than 50 years, Girardin has been a school-bus distributor serving Quebec, Ontario and the Atlantic provinces and has been the official Blue Bird school-bus distributor for more than 45 years. Girardin also distributes the MB and G5 Series Minibuses built by Microbird Corporation. Today, Girardin holds a dominant position in the Quebec school-bus market as well as one of the leading positions in the commercial and specialized vehicle market. Further information is available on Girardin’s web site, at www.girardinbluebird.com.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of New Flyer and New Flyer Industries Canada ULC (“NFI ULC”) that involve risks and uncertainties. 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 market and general economic conditions and economic conditions of and funding availability for transit agencies to purchase buses, parts and services and to exercise options 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 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.

INFORMATION:
Caroline Martel
514-843-2313
[email protected]