Further to the press release issued on October 7, 2008, The Churchill Corporation today announced that a normal course issuer bid has been approved by the Toronto Stock Exchange (the “TSX”).

The Corporation intends to purchase up to 1,391,090 of its common shares by way of normal course purchases on the TSX, representing 10% of the public float on October 9, 2008. Daily repurchases will be limited to 10,575 common shares, other than block purchase exceptions. As of October 9, 2008, there were 17,981,991 common shares issued and outstanding.

The bid may commence on October 15, 2008 and will continue until the earlier of October 14, 2009 or the date by which the Corporation has acquired the maximum number of common shares which may be purchased under the bid. Purchases will be made through the facilities of the TSX only, in accordance with the requirements of the TSX, and the price at which the Corporation will purchase its common shares will be the market price of the common shares at the time of acquisition. The Corporation has appointed Blackmont Capital Inc. as its broker to conduct normal course issuer bid transactions. Common shares purchased by the Corporation will be returned to treasury for cancellation. During the 12 months preceding October 15, 2008, the Corporation did not repurchase any common shares.

Management of the Corporation believes that from time to time the market price of the common shares may not reflect their underlying value and that, at such times, the purchase of common shares for cancellation will increase the proportionate interest of, and be advantageous to, all remaining shareholders. Any purchases made by the Corporation will also afford increased liquidity to those shareholders of the Corporation who may wish to dispose of their common shares.

The Churchill Corporation provides building construction, industrial construction and maintenance services throughout Western Canada. Churchill common shares are listed on the Toronto Stock Exchange under the symbol “CUQ”.

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