News Releases

TSX: CUQ

CALGARY, Nov. 4 /CNW/ - The Churchill Corporation ("Churchill") is
pleased to announce three new executive appointments designed to enhance the
Corporate Centre organizational capabilities in the areas of strategic
planning and business development and to focus more resources on shareholder
value creation.
Churchill is pleased to announce the appointment of Mr. Greg Phaneuf, to
the newly created position of Vice President, Corporate Development. Working
closely with the Board of Directors and the CEO, Mr. Phaneuf's
responsibilities will include setting and leading the Corporation's
strategies for growth; evaluating business development and acquisition
opportunities; executing on all transactions initiated by the company and
maximizing shareholder value through the best use of the Corporation's
resources and assets. Mr. Phaneuf will report to Mr. Jim Houck, Churchill's
President & CEO.
Mr. Phaneuf is a member of the Institute of Chartered Accountants of
Alberta and a Chartered Financial Analyst charterholder with 19 years of
increasing responsibility within a number of organizations. His most recent
position was as VP Finance and Chief Financial Officer of a $300 million
energy resource and development company. In this capacity, Mr. Phaneuf
oversaw corporate and property acquisitions exceeding $200 million. Prior
thereto, he was the Treasurer for Western Oil Sands Inc., a $6 billion
corporation. In addition to his treasury responsibilities at Western, Mr.
Phaneuf played a key role in the negotiation and structuring of the Western
sale process to Marathon Oil and was the project lead on several other
undisclosed business development activities.
"We are very pleased to have Greg join the executive management team at
Churchill", said Mr. Houck, "Churchill is embarking on a strategic evolution
and Greg's strategic and financial expertise will allow us to achieve our
long-term goal of enhancing shareholder value."
Secondly, Churchill has created the Office of the CEO within the
Corporate Centre. Mr. Houck stated "The Office of the CEO includes a new
position of Executive Vice President and Chief Financial Officer ("CFO"), the
President of Stuart Olson - Mr. Don Pearson, and me. Mr. Daryl Sands,
Churchill's Senior Vice President and CFO, for the past 3 years, will be
assuming the position of Executive Vice President and CFO in the
organization. His background and experience will allow him to support the
financial and operational functions throughout Churchill. This three person
team has been formed to fully deploy our human and capital resources across
the organization on the highest value creating opportunities."
Thirdly, Churchill is pleased to announce the appointment of Ms. Joette
Decore in the newly created position of Vice President, Strategic Planning
and Human Resources. Working closing with the CEO, Ms. Decore is responsible
for leading the planning and the execution of the Corporation's strategic
plan. Ms. Decore is also accountable for setting the Corporation's Human
Resources strategies, policies and associated programs.
Mr. Houck further stated "These changes are an important step in
Churchill's development. Churchill has built a strong foundation of solid
backlog, positive cash flow generation, a debt-free balance sheet and
significant organic growth opportunities. Churchill is embarking on a
disciplined growth strategy and Greg's, Daryl's and Joette's leadership will
play key roles in the implementation of these growth initiatives."

About The Churchill Corporation:

The Churchill Corporation provides building construction, industrial
insulation and electrical contracting services throughout Western Canada.
Churchill common shares are listed on the Toronto Stock Exchange under the
symbol "CUQ".

FORWARD LOOKING STATEMENTS

Certain statements in this Press Release may constitute "forward-looking
statements". Forward-looking statements include, without limitation,
statements regarding the future financial position, business strategy,
budgets, litigation, projected costs, capital expenditures, financial
results, taxes, plans and objectives of the Corporation. Many of these
statements can be identified by looking for words such as "believes,"
"expects," "may," "will," "intends," "anticipates," "estimates," "continues,"
or the negative thereof, or other variations thereon. Although management of
Churchill believes its expectations regarding future performance of the
Corporation are based on reasonable assumptions and currently available
competitive, financial and economic data, market conditions and operating
plans, it can give no assurance its expectations will be achieved. The
Corporation cautions that, by their nature, forward-looking statements,
involve risks, and uncertainties and that its actual actions, and/or results
could differ materially from those expressed or implied in such
forward-looking statements, and that the aforementioned risks, uncertainties
and actions could affect the extent to which a particular projection
materializes. The Corporation assumes no obligation to update the
forward-looking statements should circumstances or the Corporation's
management's estimates or opinions change.

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