Superior Plus Confirms May 2010 Cash Dividend and Dividend Reinvestment
Program

TSX: SPB

CALGARY, May 5 /CNW/ -

    
    May 2010 Cash Dividend and Dividend Reinvestment Program
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In response to a third party news article providing incorrect information, Superior Plus Corp. ("Superior") is confirming its previously announced cash dividend for the month of May, 2010 of $0.135 per share payable on June 15, 2010. The record date is May 31, 2010 and the ex-dividend date will be May 27, 2010. Superior's annualized cash dividend rate is currently $1.62 per share. Superior is also confirming that it has re-established its Dividend Reinvestment Program ("DRIP") effective for the payment of the May 2010 dividend. Participation in the DRIP is at the option of the shareholder.

A recently issued news story published through Thompson Reuters stated that "Superior will halt paying its dividend and plans to use the proceeds to reduce debt". This news story was incorrect. As a result, the news story was subsequently corrected and reissued by Thompson Reuters.

    
    About the Corporation
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Superior consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates and related fixed-price energy services; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.

Superior's shares and convertible debentures trade on the TSX as follows:

    
    Trading Symbol   Security               Issued and Outstanding
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    SPB              Common Shares          104.9 million
    SPB.db.b         5.75% Debentures,      $174.9 million principal amount
                      Series 1
    SPB.db.c         5.85% Debentures,      $ 75.0 million principal amount
                      Series 1
    SPB.db.d         7.5% Debentures        $ 69.0 million principal amount
    SPB.db.e         5.75% Debentures       $ 172.5 million principal amount
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Forward Looking Information

Certain information included in this Press Release is forward-looking, within the meaning of applicable Canadian securities laws. Much of this information can be identified by looking for words such as "believe", "expects", "expected", "will", "intends", "projects", "anticipates", "estimates", "continues" or similar words. Forward-looking information in this Press Release includes but is not limited to, assumptions concerning the future payment of dividends and the reestablishment of Superior's dividend reinvestment program. Superior believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties some of which are described herein. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Superior's actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. These risks and uncertainties include but are not limited to the inability of Superior to meet the liquidity tests set forth in the Canada Business Corporations Act with respect to the payment of dividends and future changes to applicable tax laws and the other risks identified in the Corporation's 2009 Annual Information Form under the heading "Risk Factors", which is available on the SEDAR website (www.sedar.com). Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.

For further information: about Superior, please visit our website at: www.superiorplus.com or contact: Wayne Bingham, Executive Vice-President and Chief Financial Officer, Tel: [phone], Fax: [phone], E-mail: [email protected] or Jay Bachman, Vice-President, Investor Relations and Planning, Tel: [phone], Fax: [phone], E-mail: [email protected], Toll Free: 1-866-490-PLUS (7587)