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Press release from Marketwire

Superior Plus Announces Expansion of its Construction Products Distribution Business with a $18 Million Canadian Acquisition

Friday, June 18, 2010

Superior Plus Announces Expansion of its Construction Products Distribution Business with a $18 Million Canadian Acquisition16:00 EDT Friday, June 18, 2010CALGARY, ALBERTA--(Marketwire - June 18, 2010) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESSuperior Plus Corp. (TSX:SPB) ("Superior") is pleased to announce that it has entered into a definitive agreement to acquire certain assets of a western Canadian commercial and industrial insulation distributor (the "Business") for an aggregate purchase price of approximately $18 million subject to normal course closing adjustments. The purchase price consists of $16.0 million in common shares of Superior, with the remainder being paid in cash and allows Superior to expand its commercial and industrial distribution business in Canada. The transaction is accretive for Superior's shareholders and further strengthens the balance sheet. The Business consists of three operating branches in Alberta and British Columbia. The acquisition is anticipated to close on or before June 30, 2010, subject to normal course commercial conditions and the approval of the TSX. Grant Billing, Chairman and Chief Executive Officer of Superior, stated that, "We are very pleased to enter into this transaction to expand our construction products distribution business as part of Superior's growth strategy. The acquisition of a western Canadian commercial and industrial insulation distribution business is a strategic fit and complementary with Superior's construction products distribution operations in the US." About the CorporationSuperior consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates and related fixed-price energy services; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.Superior's shares and convertible debentures trade on the TSX as follows: Trading Symbol Security Issued and Outstanding ---------------------------------------------------------------------------- SPB Common Shares 105.0 million SPB.db.b 5.75% Debentures, Series 1 $174.9 million principal amount SPB.db.c 5.85% Debentures, Series 1 $ 75.0 million principal amount SPB.db.d 7.5% Debentures $ 69.0 million principal amount SPB.db.e 5.75% Debentures $ 172.5 million principal amount ---------------------------------------------------------------------------- Forward Looking InformationCertain information included in this Press Release is forward-looking, within the meaning of applicable Canadian securities laws. Much of this information can be identified by looking for words such as "believe", "expects", "expected", "will", "intends", "projects", "anticipates", "estimates", "continues" or similar words. In particular, this press release includes forward-looking information related to Superior's business strategy including future plans to expand and integrate the Business; the perceived benefits of the acquisition of the Business and the anticipated timing of the closing of the acquisition of the Business. Superior believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.Forward-looking information is based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, risks related to the Business which are similar to the risks of Superior's existing construction products distribution business and operation risks related to Superior's other businesses including those identified in Superior's 2009 Annual Information Form under the heading "Risk Factors", which is available on the SEDAR website ( Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.FOR FURTHER INFORMATION PLEASE CONTACT: Wayne Bingham Executive Vice-President and Chief Financial Officer (403) 218-2951 or Toll Free: 1-866-490-PLUS (7587) (403) 218-2973 (FAX) or Jay Bachman Vice-President, Investor Relations and Planning (403) 218-2957 or Toll Free: 1-866-490-PLUS (7587) (403) 218-2973 (FAX)