Bennett Environmental announces agreement in principle to settle securities class action

OAKVILLE, ON, Aug. 31 /CNW/ - Bennett Environmental Inc. (TSX:BEV,
AMEX:BEL) announced today that it had reached an agreement in principle to
settle the previously disclosed consolidated securities class action against
it and certain of its present or former officers that is pending in the United
States District Court for the Southern District of New York.
Under the proposed settlement, all claims asserted against the Company
and the other named defendants in that action will be dismissed with prejudice
with no admission or finding of wrongdoing on the part of any defendant. The
proposed settlement will provide for an aggregate cash payment to class
members of US$9.75 million, which will be paid primarily by the Company's
insurance carriers with a contribution of US$750,000 to come from the Company.
The proposed settlement is subject to negotiation of definitive
settlement documents and preliminary and final court approvals following
notices to shareholders and members of the class.
The consolidated securities class action, In re Bennett Environmental
Inc. Securities Litigation, arose from a number of purported class actions
that were originally filed in 2004 based on the Company's public statements
concerning its subcontract for Phase III of the Manville, New Jersey federal
creosote soil remediation project. The class is represented by Metropolitan
Capital Advisors, L.P. and Metropolitan Capital Partners III, L.P., the Court-
appointed lead plaintiffs, and by Bernstein Litowitz Berger & Grossmann LLP as
the Court-appointed lead plaintiffs' counsel.

About Bennett Environmental Inc.

Bennett Environmental Inc. is a North American leader in high temperature
treatment services for the remediation of contaminated soil and has provided
thermal solutions to contamination problems throughout Canada and the U.S.
Bennett Environmental's technology provides for the safe, economical and
permanent solution to contaminated soil. Independent testing has consistently
proven that the technology operates well within the most stringent criteria in
North America.
Bennett Environmental is listed on the Toronto Stock Exchange (Trading
Symbol "BEV") and the American Stock Exchange (Trading Symbol "BEL"). For
information, please visit the Bennett Environmental website at
www.bennettenv.com.