ex99_1.htm

Exhibit 99.1

News Release

For Immediate Release

Stantec announces strong second quarter 2008 results

The firm’s trading symbol on the NYSE changed from SXC to STN

EDMONTON AB (July 31, 2008) TSX, NYSE:STN

Gross revenue increased 40.3% to C$343.3 million compared to C$244.7 million in the second quarter of 2007. Net revenue increased 34.0% to C$289.0 million from C$215.7 million, while net income was up 26.3% to C$22.1 million compared to C$17.5 million. Diluted earnings per share were C$0.48 in the second quarter of 2008 compared to C$0.38 in the same period last year, representing an increase of 26.3%.

Year-to-date 2008 gross revenue increased 37.8% to C$635.1 million compared to C$461.0 million in the same period of 2007, while net revenue increased 33.3% to C$543.9 million from C$408.0 million. Net income increased 18.5% to C$39.0 million from C$32.9 million. Diluted earnings per share were up 19.7% to C$0.85 from C$0.71.

During the second quarter, Stantec renewed its normal course issuer bid and repurchased 68,300 shares for cancellation. The firm also announced the acquisition of McIntosh Engineering, a 200-person mining engineering firm based primarily in Tempe, Arizona, and Sudbury and North Bay, Ontario, which was completed at the beginning of the third quarter.

§	Starting July 31, 2008, Stantec will trade on the New York Stock Exchange under the symbol STN, changing from SXC to match its trading symbol on the Toronto Stock Exchange.

Complete Financial Statements, Notes to the Financial Statements, and Management’s Discussion and Analysis will be filed on Sedar (www.sedar.com) and Edgar (www.sec.gov) on July 31, 2008 and are available to download from the Investors section on www.stantec.com. The documents are also available from Stantec.

"Our performance in the second quarter continues to validate the strength of our business model, which is designed to adapt to changes in market conditions in the geographic regions and practice areas we serve, as well as being a reflection of our employees’ ability to execute projects,” says Tony Franceschini, Stantec President & CEO. “While we’ve experienced a decrease in the demand for services in our Urban Land practice in the first half of 2008, we have more than offset this with increased demand for services in our Environment, Industrial, and Buildings practice areas.”

Sample projects awarded to Stantec in the second quarter demonstrate the diversity of the organization as well as the firm’s ability to integrate its services to provide solutions to clients. In British Columbia, Stantec is providing mechanical, electrical, and sustainability engineering for the development of the Centre for Interactive Research on Sustainability at the University of British Columbia in Vancouver. Once operational, this facility will produce net energy to heat other buildings while reducing the overall carbon footprint of the university campus. The Company is completing the detailed design of an innovative continuous flow process for producing biodiesel fuels at a plant in Nova Scotia. The process can use either vegetable or marine virgin oil feedstock and, when commissioned in the fall of 2008, will be capable of producing 100 tonnes (110 tons) of biodiesel per day. In addition, Stantec is completing the civil, structural, mechanical, and electrical design of the Sustainable Barbados Recycling Centre, the first integrated waste management facility in the Caribbean. The “one-stop” facility is scaled to receive approximately 1,000 tonnes (1,102 tons) of waste material per day upon start-up, 60 percent of which will be diverted from landfill disposal. Part of the waste material will be converted into useful products, including compost, mulch, wood chips, and stone aggregate, for resale or distribution. In Newton County,

Georgia, Stantec is designing a 2.2 million-US-gallon-per-day (8.3-megalitre-per-day) advanced wastewater treatment facility for the Newton County Water and Sewerage Authority. And in San Diego, California, the firm is combining services in landscape architecture, civil engineering, and hydrology to design a permeable “green” pavement for infiltrating stormwater runoff from the parking lot at Kellogg Park and the La Jolla Shores Beach, one of the state’s 34 areas of special biological significance.

"Our operating philosophy of one team offering integrated services, combined with our geographic and practice area diversity, is what sets Stantec apart and gives us the ability to deliver strong results in difficult general market conditions," says Franceschini. “Our employees have been rising to the challenge, and their efforts are helping Stantec to succeed and grow in a changing market.”

“We are also pleased to report that our trading symbol on the NYSE is now STN, making it consistent with our symbol on the TSX and reflecting our single-brand identity and one team philosophy,” adds Franceschini.

The second quarter conference call, to be held today at 4:00 PM EDT (2:00 PM MDT), will be broadcast live and archived in the Investors section at www.stantec.com. Financial analysts who wish to participate in the earnings conference call are invited to call 1-866-322-2356 and provide the confirmation code 4648105 to the first available operator.

Stantec provides professional consulting services in planning, engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics for infrastructure and facilities projects. We support public and private sector clients in a diverse range of markets in the infrastructure and facilities sector at every stage, from initial concept and financial feasibility to project completion and beyond. Our services are offered through approximately 9,000 employees operating out of more than 125 locations in North America. Stantec trades on the TSX and the NYSE under the symbol STN. Stantec is One Team providing Infinite Solutions.

Cautionary note regarding forward-looking statements

This press release contains "forward-looking statements." Some of these statements may involve risks and uncertainties and other factors that may be beyond the control of Stantec and cause actual results to be materially different from those contained in such forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in Stantec's filings with the Canadian provincial securities commissions and the United States Securities and Exchange Commission.

Media Contact

Jay Averill

Media Relations

Stantec

Tel: 780-917-7441

Investor Contact

Simon Stelfox

Investor Relations

Stantec

Tel: 780-917-7288

One Team. Infinite Solutions.

- Income Statement and Balance Sheet attached -

Consolidated Balance Sheets
(Unaudited)
	June 30			December 31
	2008			2007
(In thousands of Canadian dollars)	$			$

ASSETS
Current
Cash and cash equivalents		26,089			14,175
Cash held in escrow		6,630			-
Accounts receivable, net of allowance for doubtful accounts of
$10,224 in 2008 ($10,508 – 2007)		246,951			206,063
Costs and estimated earnings in excess of billings		91,844			65,064
Income taxes recoverable		9,625			5,019
Prepaid expenses		5,501			6,617
Future income tax assets		15,992			13,308
Other assets		12,670			13,002

Total current assets		415,302			323,248
Property and equipment		101,988			88,156
Goodwill		415,710			332,922
Intangible assets		41,237			32,288
Future income tax assets		13,578			12,074
Other assets		28,988			24,873

Total assets		1,016,803			813,561


LIABILITIES AND SHAREHOLDERS' EQUITY
Current
Accounts payable and accrued liabilities		152,975			155,020
Billings in excess of costs and estimated earnings		35,302			34,423
Income taxes payable		-			9,955
Current portion of long-term debt		37,150			21,549
Future income tax liabilities		15,541			11,750

Total current liabilities		240,968			232,697
Long-term debt		217,778			74,539
Future income tax liabilities		24,072			20,718
Other liabilities		47,584			42,909

Total liabilities		530,402			370,863

Shareholders' equity
Share capital		219,310			218,790
Contributed surplus		7,667			6,266
Deferred stock compensation		-			(110	)
Retained earnings		321,377			286,780
Accumulated other comprehensive loss		(61,953	)		(69,028	)

Total shareholders' equity		486,401			442,698

Total liabilities and shareholders' equity		1,016,803			813,561

Consolidated Statements of Income

(Unaudited)

	For the quarter ended						For the two quarters ended
	June 30						June 30
	2008			2007			2008			2007
(In thousands of Canadian dollars, except share and per share
amounts)	$			$			$			$

INCOME
Gross revenue		343,327			244,649			635,130			460,960
Less subconsultant and other direct expenses		54,268			28,997			91,212			52,961

Net revenue		289,059			215,652			543,918			407,999
Direct payroll costs		127,485			94,665			242,092			177,672

Gross margin		161,574			120,987			301,826			230,327
Administrative and marketing expenses		118,033			90,693			225,002			172,368
Depreciation of property and equipment		6,836			4,240			12,203			8,328
Amortization of intangible assets		2,553			819			5,219			1,758
Net interest expense		2,011			431			3,513			324
Share of (income) loss from associated companies		54			(25	)		160			(94	)
Foreign exchange (gains) losses		380			(918	)		21			(1,096	)
Other income		(400	)		(314	)		(630	)		(592	)

Income before income taxes		32,107			26,061			56,338			49,331

Income taxes
Current		14,201			8,181			18,200			15,648
Future		(4,199	)		453			(904	)		828

Total income taxes		10,002			8,634			17,296			16,476

Net income for the period		22,105			17,427			39,042			32,855


Weighted average number of shares outstanding –
basic		45,656,377			45,546,046			45,656,836			45,520,017

Weighted average number of shares outstanding –
diluted		46,122,311			46,268,733			46,187,313			46,185,706

Shares outstanding, end of the period		45,606,823			45,574,038			45,606,823			45,574,038

Earnings per share
Basic		0.48			0.38			0.86			0.72

Diluted		0.48			0.38			0.85			0.71