Mr. Colin Jackson reports

CU INC. ANNOUNCES DEBENTURE ISSUE

CU Inc. will issue $340-million of 5.088 per cent debentures maturing on Sept. 20, 2053, at a price of $100 to yield 5.088 per cent. This issue was sold by BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., TD Securities Inc., Scotia Capital Inc., CIBC World Markets Inc., MUFG Securities (Canada) Ltd. and ATB Capital Markets Inc. Proceeds from the issue will be used to finance capital expenditures, to repay existing indebtedness and for other general corporate purposes.

CU is a wholly owned subsidiary of Canadian Utilities Ltd., an ATCO company. CU is an Alberta-based corporation with approximately 3,700 employees and assets of $18-billion, comprising rate-regulated utility operations in pipelines, natural gas, and electricity transmission and distribution.

We seek Safe Harbor.