SNC-LAVALIN AND TRANSAXIO HIGHWAY CONCESSION INC. ANNOUNCE WITHDRAWAL OF
TRANSAXIO INITIAL PUBLIC OFFERING

MONTREAL, Oct. 28, 2010 /CNW Telbec/ - SNC-Lavalin Group Inc. (TSX:SNC) and TransAxio Highway Concession Inc. ("TransAxio") announced today that, due to current adverse market conditions, TransAxio will not be proceeding with its previously announced initial public offering of subscription receipts. In connection with the decision not to proceed with the TransAxio initial public offering, SNC-Lavalin announces that it does not intend to exercise its priority right of first refusal to acquire 10% of the total issued and outstanding shares of 407 International Inc. from Cintra Infraestructuras, S.A.

Pierre Duhaime, President and Chief Executive Officer of SNC-Lavalin, stated that, "While we are certainly disappointed that the market conditions at this time did not permit us to proceed with the offering on favourable terms, we continue to believe in the strong underlying value of 407, which is a premier infrastructure asset."

About SNC-Lavalin

SNC-Lavalin (TSX:SNC) is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure, and in the provision of operations and maintenance services. SNC-Lavalin has offices across Canada and in over 35 other countries around the world, and is currently working in some 100 countries. www.snclavalin.com.

About 407

The principal business of 407 is the ownership of 407 ETR, which is responsible for the operation, maintenance, management and expansion of Highway 407. 407 ETR signed a Concession Agreement with the Province of Ontario, pursuant to which it was granted a 99-year exclusive concession and ground lease of the lands upon which 407's operations are located (which commenced on April 6, 1999). Highway 407 is the first all-electronic open-access toll highway in the world. It traverses the GTA, the largest urban centre in Canada. 407 International Inc. is owned by a consortium comprised of Cintra, Intoll and SNC-Lavalin.

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