Superior Plus Enters High Growth Electricity Market in Ontario and Expands Into British Columbia Natural Gas Market



    TSX: SPF.UN

    CALGARY, June 13 /CNW/ - Superior Plus Income Fund (the "Fund") announced
today that its wholly owned indirect subsidiary Superior Energy Management
Electricity LP ("SEM") is entering the high growth fixed price retail
electricity market in Ontario and has entered into a long term electricity
supply agreement with Bruce Power L.P. ("BPLP"), Ontario's largest independent
electricity generator.
    Under the agreement, BPLP has agreed to supply electricity ("Supply") to
support SEM's fixed priced customer contracts in the Ontario market. The deal
is structured with an initial term of three years and may renew annually
thereafter. During the term of the agreement, SEM will purchase Supply from
BPLP for customer contract terms of up to five years and the obligation to
provide Supply for the term of such contracts will survive the termination of
the agreement.
    Electricity sales will be made by existing sales channels allowing for
greater channel productivity and increased revenue per customer. As SEM enters
these new business channels, they will incur start-up costs in the initial
period and realize enhanced cash flow as they begin delivering to their
customers. These costs and cash flow are within their operating distributable
cash flow guidance of $12 - $15 million for 2007, and $15 - $18 million for
2008.
    "Today's announcement represents another key component of our strategy to
grow and diversify our business", said Greg McCamus, President of SEM. "We
will be leveraging our strong presence in the Ontario gas market by bringing
new innovative electricity price protection plans to Ontario residential
consumers and small businesses. In addition, on May 1 2007, we successfully
expanded into the newly deregulated British Columbia residential gas market as
part of our organic growth initiative."
    Grant Billing, CEO Superior Plus stated: "We are very pleased to be
entering the electricity market and expanding our natural gas business into
the new BC market with our highly experienced team at Superior Energy
Management. Penetration of these strong markets is expected to allow the Fund
growth opportunities resulting in greater stability of its distributions and
increased unitholder value over the long term."

    About Superior Plus and the Fund
    --------------------------------
    Superior Plus Income Fund is a diversified business trust. The Fund holds
100% of Superior Plus LP, a limited partnership formed between Superior Plus
Inc., as general partner and the Fund as limited partner. Superior Plus is
focused on stability of distributions with value growth and has four Canadian
based operating divisions: Superior Propane is Canada's largest distributor of
propane, related products and services; ERCO Worldwide is a leading supplier
of chemicals and technology to the pulp and paper industries, a regional
Midwest supplier of chloralkali products and the third largest producer of
potassium products in North America; Winroc is the seventh largest distributor
of walls and ceilings construction products in North America; and Superior
Energy Management provides fixed price natural gas supply services in British
Columbia, Ontario and Quebec and fixed price electricity supply services in
Ontario.
    The Fund's trust units and convertible debentures trade on the Toronto
Stock Exchange as follows

    
    Trading
    Symbol       Security                      Issued and Outstanding
    -------------------------------------------------------------------------
    SPF.un       Trust Units                   86.1 million
    SPF.db       8% Debentures, Series 1       $8.1 million principal amount
    SPF.db.a     8% Debentures, Series 2      $59.0 million principal amount
    SPF.db.b     5.75% Debentures, Series 1  $174.9 million principal amount
    SPF.db.c     5.85% Debentures, Series 1   $75.0 million principal amount
    -------------------------------------------------------------------------
    





For further information:

For further information: about Superior Plus, please visit our website
at: www.superiorplus.com or contact: Wayne Bingham, Executive Vice-President
and Chief Financial Officer, Tel: (403) 218-2951, Fax: (403) 218-2973, E-mail:
wbingham@superiorplus.com; A. Scott Daniel, Vice-President, Treasurer and
Investor Relations, Tel: (403) 218-2953, Fax: (403) 218-2973, E-mail:
sdaniel@superiorplus.com, Toll Free: 1-866-490-PLUS (7587)

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SUPERIOR PLUS CORP.

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