Finning International Inc T.FTT

Agreement With Albian Sands Energy Inc.

[Georgia_Straight]

And, Mr. Gwoo was right: Agreement With Albian Sands Energy Inc. 1/16/02 FINNING INTERNATIONAL INC ("FTT-T") - Agreement With Albian Sands Energy Inc. Finning International Inc. announced that it has secured a contract with Albian Sands Energy Inc. to deliver 23 new Caterpillar 797 trucks over the next 18 months, an agreement valued in excess of C$100 million. Commenting on the agreement, Ian Reid, President and Chief Operating officer for Finning (Canada) said: "As North America seeks to become energy self-sufficient, the resulting expansion in the Alberta oil sands will deliver growth opportunities for Finning (Canada)." Along with delivery of the 23 trucks, Mr. Reid said Finning (Canada) will continue to expand its operations and service capabilities in and around Fort McMurray. In 2001 alone, Finning (Canada) added some 80 people to its Fort McMurray operations to support business growth in the area. Alberta has the largest oil sands resources in the world with approximately 300 billion barrels of oil expected to be ultimately recoverable. The industry has announced more than C$50 billion of new investment for oil sands projects since 1996. If all planned investment proceeds, oil sands production is projected to reach 1.7 million barrels per day over the next 10 years. Doug Whitehead, President and CEO of Finning International Inc. noted: "This transaction builds on Finning's pre-eminent position in the oil sands and our track record of selling the 797 truck. We are very optimistic about our opportunities in the oil sands, including equipment sales and ongoing service and parts support." In addition, Finning posted record sales of 797 trucks in 2001, with 19 trucks sold in Canada and nine sold in Chile's copper mining industry. Finning International Inc. sells, rents, finances and provides customer support services for Caterpillar equipment and engines, and complementary equipment, in Western Canada, the U.K. and Chile. The corporation's Head Office is located in Vancouver, B.C., Canada. Finning International Inc. (www.finning.com) is a widely held, publicly traded corporation, listed on the Toronto Stock Exchange (symbol FTT). TEL: [phone] Anthony R. Guglielmin, Vice President and FAX: [phone] Corporate Treasurer Finning International Inc. Email: [e-mail] Website: www.finning.com ______________________________ ___________________________________________________________________ (c) Market News Publishing Inc. Tel:[phone] All rights reserved. Fax:[phone] MarketbyFax(tm) - To get the NEWS as it happens, call [phone].