GARNEAU INC. ANNOUNCES MAILING OF INFORMATION CIRCULAR

NISKU, AB, Sept. 30 /CNW/ -- NEX - GAR.H

NISKU, AB, Sept. 30 /CNW/ - Garneau Inc. ("Garneau" or the "Corporation") announces that the Corporation has mailed a management proxy circular (the "Circular") pertaining to the Annual and Special Meeting of Shareholders (the "Meeting") to be held on October 27, 2010 to consider the annual business of the Corporation and a special resolution to approve the lease and possible sale of substantially all of the property of the Corporation, which consists of real property situated in Nisku, Alberta, pursuant to a lease agreement with an arm's length third party.
The Corporation also announces that contrary to a press release issued by the Corporation on September 24, 2010, the Corporation will not seek the approval of the shareholders of the Corporation for the liquidation, distribution of any remaining cash and winding-up of the Corporation at this time. The board of directors of the Corporation is continuing its review of strategic alternatives for Garneau.

Forward-Looking Information

Certain information in this press release contains forward-looking statements. These statements relate to future events or actions. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "if", "intends", "would", "anticipated", believes", "anticipates", "will", "expected" and similar expressions. These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Garneau's control. Actual events or actions could differ materially from those expressed in, or implied by, such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Garneau will derive from them. Except as required by law, Garneau undertakes no obligation to publicly update or revise any forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Glen Garneau, Acting President and CEO; Darlene Kirkpatrick, Project and Communications Manager, Phone: [phone], Fax: [phone]

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