New Flyer Industries Inc. and New Flyer Industries Canada ULC (together, New Flyer or the company) announced that the fiftieth consecutive monthly cash distribution on the income deposit security of New Flyer in the amount of CAD 0.0975 will be payable on November 16, 2009, to holders of record of IDSs at the close of business on October 30, 2009. Each IDS consists of one common share of NFI (a common share) and CAD 5.53 principal amount of 14% subordinated notes of NFI ULC (the subordinated notes), an indirect subsidiary of NFI. The total distribution of CAD 0.0975 per IDS reflects a cash dividend of CAD 0.03298 per common share and an interest payment of CAD 0.06452 per CAD 5.53 principal amount of subordinated notes for the period from October 1, 2009 to October 31, 2009.

New Flyer Holdings Inc. announced earnings results for the second quarter ended July 5, 2009. Consolidated Adjusted EBITDA was $3.2 million in 2009 second quarter compared to 2008 second quarter, the net loss was also impacted by the increase in non-cash charges which was offset by lower income tax expense. Consolidated Adjusted EBITDA for 2009 second quarter totaled $22.7 million compared to $25.9 million in 2008 second quarter which represents a decrease of 12.4%. The impact of the depreciation of the value of the Canadian dollar in 2009 second quarter compared to 2008 second quarter, reduced Adjusted EBITDA by approximately $2.3 million ($1.6 million reduction in bus manufacturing operations and $0.7 million reduction in aftermarket operations).

New Flyer Holdings Inc. reported unaudited consolidated earnings results for the second quarter and first six months ended July 5, 2009. For the quarter, the company reported net loss and comprehensive loss of $14,670,000 or $0.31 per basic and diluted share on revenues of $273,512,000 against net loss and comprehensive loss of $10,651,000 or $0.29 per basic and diluted share on revenues of $260,416,000 in the same period of last year. Earnings from operations were $17,423,000 against $19,689,000 in the same period of last year. Earnings before interest and income taxes were $1,438,000 against $7,316,000 in the same period of last year. Loss before income tax expense was $11,198,000 against $4,481,000 in the same period of last year. Net cash provided by operating activities was $645,000 against $9,176,000 in the same period of last year. Acquisition of property, plant and equipment was $1,287,000 against $1,972,000 in the same period of last year. For the first six months ended July 5, 2009, the company reported net loss and comprehensive loss of $9,889,000 or $0.21 per basic and diluted share on revenues of $546,861,000 against net earnings and comprehensive earnings of $25,024,000 or $0.75 per basic and diluted share on revenues of $484,851,000 in the same period of last year. Earnings from operations were $34,574,000 against $40,941,000 in the same period of last year. Earnings before interest and income taxes were $20,452,000 against $58,077,000 in the same period of last year. Loss before income tax expense was $4,021,000 against earnings before income tax expenses was $32,202,000 in the same period of last year. Net cash used in operating activities was $33,380,000 against net cash provided by operating activities was $16,048,000 in the same period of last year. Acquisition of property, plant and equipment was $2,609,000 against $2,586,000 in the same period of last year.