Rocky Mountain Dealerships (TSX-RME) Announces Closing Of Acquisition

CALGARY, Aug. 27 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky Mountain" or the "Company") announces the completion of the previously announced acquisition of Miller Farm Equipment 2005 Inc. ("Miller") for an aggregate purchase price of $7.0 Million cash and 549,020 of the Company's common shares. Miller represents Case IH agriculture dealerships in Brandon, Killarney, Shoal Lake, Dauphin and Boissevain Manitoba and in Moosomin Saskatchewan. This transaction is also subject to a working capital adjustment based on an effective date of August 1, 2008.

In fiscal 2007 Miller had top line revenue in excess of $101 million and EBITDA margins of 4.2%. The previous shareholders of Miller, Kevin Miller and Doug Heritage, will continue to be involved in the operation of Miller in senior management roles.

Commenting on the Company's acquisition, Matt Campbell, CEO of Rocky Mountain said, "This strategic acquisition brings a geographic diversity to the Rocky Mountain group within our stated strategy, while at the same time bringing a young and dynamic management team that further enhances Rocky's ability to continue the delivery on its stated goals."

About Rocky Mountain:

Rocky Mountain represents one of Canada's largest agriculture and construction equipment dealerships with 14 dealership branches located throughout Alberta and now has an additional five dealerships in Manitoba and one in Saskatchewan. Rocky Mountain sells, rents and leases new and used construction and agriculture equipment, including the Case Construction and Case IH Agriculture brands, as well as offering product support and finance and insurance products to its customers.

Additional information on Rocky Mountain is available on our website at www.rockymtn.com and on SEDAR at www.sedar.com. The common shares of Rocky Mountain trade on the Toronto Stock Exchange under the symbol "RME".

Contacts

M.C. (Matt) Campbell
Chairman and Chief Executive Officer

Brian Taschuk
Chief Operating Officer

Garrett Ganden
Chief Financial Officer

828 - 46th Avenue S.E.
Calgary
Alberta
T2G 2A6
Telephone: (403) 243-8600
Fax (403) 243-2264