EPCOR Utilities Inc. completes C$200 million debt offering



    EDMONTON, Feb. 1 /CNW/ - EPCOR Utilities Inc. (EPCOR) has completed a
public offering in Canada of unsecured medium term note debentures in the
aggregate principal amount of C$200 million. The notes have a coupon rate of
5.80% and mature on January 31, 2018. The net proceeds of the offering will be
used to repay EPCOR's commercial paper indebtedness and for general corporate
purposes.
    These debt securities are rated A (low) by DBRS Limited and BBB+ by
Standard and Poor's Ratings Services, a division of The McGraw-Hill Companies
(Canada) Corporation.
    The offering was made in Canada under EPCOR's previously filed short form
base shelf prospectus dated October 24, 2007. TD Securities Inc. and RBC
Dominion Securities Inc. acted as co-leads and joint book runners for the
offering.

    EPCOR Utilities Inc. builds, owns and operates power plants, electrical
transmission and distribution networks, water and wastewater treatment
facilities and infrastructure in Canada and the United States. EPCOR has been
named one of Canada's Top 100 Employers for eight consecutive years, and is
headquartered in Edmonton, Alberta. EPCOR's web-site is www.epcor.ca.

    Forward-looking Information

    Certain information in this press release is forward-looking and related
to anticipated financial performance, events and strategies. When used in this
context, words such as "will", "anticipate", "believe", "plan", "intend",
"target", "expect" or similar words suggest future outcomes. By their nature,
such statements are subject to significant risks and uncertainties, which
could cause EPCOR's actual results and experience to be materially different
than the anticipated results. Such risks and uncertainties include, but are
not limited to, operating performance, commodity prices and volumes, load
settlement, regulatory and government decisions, weather and economic
conditions, competitive pressures, construction risks, obtaining financing and
the performance of partners, contractors and suppliers.
    Readers are cautioned not to place undue reliance on forward-looking
statements as actual results could differ materially from the plans,
expectations, estimates or intentions expressed in the forward-looking
statements. Except as required by law, EPCOR disclaims any intention and
assumes no obligation to update any forward-looking statement even if new
information becomes available, as a result of future events or for any other
reason.





For further information:

For further information: Media inquiries: Tim le Riche, (780) 969-8238;
Shareholder and analyst inquiries: Randy Mah, (780) 412-4297 or toll free at
(866) 896-4636

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