AltaGas Income Trust announces resignation of President and Chief Operating Officer
CALGARY--(CCNMatthews - April 13) - AltaGas Income Trust (TSX:ALA.UN) today announced that Gary Holden, President and Chief Operating Officer of AltaGas Ltd., administrator of the Trust, has resigned effective April 15, 2005. Mr. Holden has accepted the position of President and Chief Executive Officer at a Calgary-based energy organization. Mr. Holden joined AltaGas as President and Chief Operating Officer on April 1, 2003. "During his two years at AltaGas, Gary provided us with strong leadership and we wish him success," said David Cornhill, Chairman and Chief Executive Officer. "We have begun the search for a new President and Chief Executive Officer." 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, sale of power from its power purchase based arrangements and as a leading energy agency business, specializes in the procurement and supply of energy to end users. 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