Mr. Colin Jackson reports

CANADIAN UTILITIES LIMITED ANNOUNCES CLOSING OF PREFERRED SHARE ISSUE

Canadian Utilities Ltd. has closed its previously announced public offering of cumulative redeemable second preferred shares, Series JJ, by a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets and including TD Securities Inc., Scotiabank, CIBC Capital Markets, National Bank Financial Inc. and ATB Capital Markets. Canadian Utilities issued 8.05 million Series JJ preferred shares for gross proceeds of $201.25-million, which includes the full exercise of the underwriters' overallotment option. The Series JJ preferred shares will begin trading on the Toronto Stock Exchange today under the symbol CU.PR.K. Proceeds from the issue will be used for capital expenditures and for other general corporate purposes.

Canadian Utilities and its subsidiary and affiliate companies have approximately 9,100 employees and assets of $24-billion. Canadian Utilities, an Atco company, is a diversified global energy infrastructure corporation delivering essential services and innovative business solutions. Atco Energy Systems delivers energy for an evolving world through its electricity and natural gas transmission and distribution, and international electricity operations segments. Atco EnPower creates sustainable energy solutions in the areas of electricity generation, energy storage, industrial water and cleaner fuels. Atco Australia develops, builds, owns and operates energy and infrastructure assets.

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