20 March 2009

ACE Aviation Holdings announces final results of substantial Issuer Bid

ACE Aviation Holdings (ACE) announced the final results of its previously announced offer (the Offer) to indirectly purchase for cancellation all of its outstanding preferred shares, which Offer was launched on February 11, 2009 and expired at 5:00 p.m. (Montreal time) on March 19, 2009. Based on final reports from CIBC Mellon Trust Company, the

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