TORONTO, ONTARIO - Friday, March 5, 1999, 12:31 PM EST

Strongco Inc., Toronto, has announced its intention to increase its current Normal Course Issuer Bid being made through the facilities of the Toronto and Montreal Stock Exchanges to purchase up to an additional 100,000 of its issued and outstanding common shares over the months of March and April, 1999. As of February 28, 1999, Strongco had purchased 300,000 common shares under the Normal Course Issuer Bid. All shares purchased by Strongco in connection with the Normal Course Issuer Bid have been and will continue to be cancelled. 

In accordance with the rules of the Toronto and Montreal Stock Exchanges, purchases of the common shares commenced April 30, 1998 and are to terminate on April 29, 1999. The number of additional common shares sought, when added to the 300,000 common shares already purchased, represents approximately 4.1% of the outstanding common shares of Strongco at the date of the commencement of the Normal Course Issuer Bid. There were 9,652,185 common shares outstanding at the date of the commencement of the Normal Course Issuer Bid. 

Mr. Randy Henderson, Vice-President, Chief Financial Officer and Corporate Secretary of Strongco, stated that Strongco believes that market conditions have created opportunities to acquire common shares in the market at attractive prices. Accordingly, this action has been taken to ensure that Strongco is in a position to continue to buy back a limited number of its common shares in the event that the directors of Strongco believe such purchases to be in the best interest of Strongco. 

Strongco is one of the largest heavy equipment companies in North America. It employs 1,400 people in 85 branches across Canada and in the mid-Atlantic region of the United States. The company has grown at an annual compound rate in excess of 30% over the last five years primarily through a series of corporate acquisitions. 

The common shares of Strongco are listed on the Toronto and Montreal Stock Exchanges under the symbol SQP.