AltaGas Income Trust announces appointment of two new directors
CALGARY--(CCNMatthews - March 16) - AltaGas Income Trust (TSX:ALA.UN) is pleased to announce that Mr. Allan L. Edgeworth and Mr. Robert B. Hodgins have been appointed Directors of AltaGas General Partner Inc., the delegate of the Trustee of AltaGas Income Trust, effective March 2, 2005. Both Mr. Edgeworth and Mr. Hodgins bring extensive industry experience to AltaGas. Mr. Edgeworth was the President and CEO of Alliance Pipeline from 2001 until December 2004. Mr. Edgeworth joined Alliance Pipeline in 1998 as Executive Vice President and Chief Operating Officer. Prior to that, Mr. Edgeworth spent almost 20 years with Westcoast Energy where he held various positions including Vice President of Pipeline Operations and Senior Vice President of Regulatory Affairs. Mr. Hodgins recently retired from a full time executive role following a career that spanned more than 25 years with several senior Canadian corporations. Most recently, he served as the Chief Financial Officer of Pengrowth Energy Trust from 2002 to 2004. Prior to that, Mr. Hodgins held the position of Vice President and Treasurer of Canadian Pacific Limited from 1998 to 2002 and was Chief Financial Officer of TransCanada Pipelines Limited from 1993 to 1998. Mr. Hodgins is a trustee of Calpine Power Income Fund and a director of Enerflex Systems Ltd. David Cornhill, Chairman and Chief Executive Officer, said "I am extremely pleased to welcome Mr. Edgeworth and Mr. Hodgins to the Board of Directors. Their knowledge and experience will enhance our already strong Board of Directors." AltaGas moves energy from its source to the end user, adding value through the process. The Trust has consolidated assets totalling over $1 billion and a market capitalization of approximately $1.2 billion. Its steadily expanding asset base today includes natural gas gathering and processing facilities, interests in ethane and natural gas liquids extraction plants, and transmission pipelines. AltaGas distributes natural gas to Alberta customers through AltaGas Utilities Inc., to customers in the Northwest Territories through the Ikhil Gas Project and distributes gas in Nova Scotia through its interest in Heritage Gas Limited. The Trust provides energy services to customers, including marketing of natural gas and natural gas liquids and the sale of power from its power purchase based arrangements. AltaGas' Trust Units are listed on the Toronto Stock Exchange under the symbol ALA.UN. The Trust is included in the S&P/TSX Capped Income Trust Index and the S&P/TSX Capped Energy Trust Index. When used in this news release, the words "anticipate," "estimate," and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in the forward-looking statements. These risks and uncertainties include operating performance, regulatory and environmental issues, weather and economic conditions, competition and financing availability. For additional information on these and other factors see the reports filed by AltaGas with Canadian securities regulators. AltaGas disclaims any intention or obligation to update or revise any forward looking information whether as a result of new information or future event.
Media:
Dennis Dawson
(403) 691-7534
Email: dennis.dawson@altagas.ca
or
Investment Community:
Debbie Stein
(403) 269-5683
Email: debbie.stein@altagas.ca
Website: www.altagas.ca