King & Benton takes $250,000 position in Integrated Grain Producers Co-operative

06/23/2004

Brantford, ON, June 23, 2004 – King and Benton today announced plans to take a $250,000 equity position in the Integrated Grain Processors Cooperative (IGPC) and that IGPC will close a purchase agreement on January 31, 2005 for land on King & Benton’s Oak Park property where IGPC’s $86 million ethanol facility will be located.

“King and Benton and IGPC are committed to working together towards the completion of the ethanol project,” says King and Benton President, Steve Charest. “We think this project has tremendous potential and are confident it will create many additional economic benefits for the area.”

Charest says the Oak Park properties are among the most sought-after locations in Southern Ontario and that IGPC will be a key element in the exciting plans King and Benton has for the site. “There is widespread support for this project from the community and the government,” says Charest. “With excellent access to the 403, the railway and other services, this is an ideal location for the ethanol plant as well as a wide range of other businesses.”

IGPC Chairman Tom Cox says the announcements are major steps towards IGPC realizing its plan to build an $86 million ethanol processing facility in Brantford. “This is a real win-win announcement,” says Cox. “ We are very pleased to have such a prominent developer on board with the project and the location for the facility couldn’t be better,” he said. “We enjoy working with King & Benton and are confident that the value both parties bring to the table will make this project a success.”

About King & Benton

King and Benton Developments is a Canadian-owned, Toronto-based real estate company dedicated to making the Brant County area the next centre of business in Southern Ontario. With more than 1 million square feet of industrial real estate and 275 hectares (709 acres) of serviced and unserviced industrial land in the Brantford area, King and Benton offers outstanding development opportunities to potential partners.

About IGPC

The Integrated Grain Processors Co-operative (IGPC) is an incorporated co-operative formed in April of 2002 to build a modern commercial scale grain ethanol plant. The $86 million IGPC ethanol project in Brantford, Ontario, will manufacture 125 million litres of denatured ethanol annually, 96,000 tonnes of Distillers’ Dried Grains and Solubles (DDGS) and 60,000 tonnes of CO2. The IGPC ethanol plant will use nearly 12 million bushels of corn each year, creating significant additional demand for Ontario corn.

Contact:
Sophie Lambert (Toronto)
Trillium Corporate Communications Inc.
416-322-3030, ext. 227 / 416-505-3350
sophie@trilliumpr.com

Kathleen Hutchinson (Brantford)
King & Benton Developments
866-728-3126
khutchinson@kingandbenton.com

Tom Cox
IGPC
519-771-4467 / 519-647-2881
holly.cox@sympatico.ca