LISTED FOR TRADING IN UNITED STATES FUNDS ON THE TORONTO STOCK
EXCHANGE/TRADING SYMBOL: CUP.U
GRAND CAYMAN, Cayman Islands, Aug. 21 /CNW/ - Caribbean Utilities
Company, Ltd. ("CUC" or "the Company") confirmed today that it was not
materially impacted by Hurricane Dean ("Dean"), a major category four
hurricane that brushed Grand Cayman on Monday, August 20, 2007. Dean's closest
point of approach was approximately 104 miles south of Grand Cayman between
7 am and 8 am Cayman time, resulting in tropical storm-force winds and minimal
storm surge along the eastern, western and southern coasts.
Richard Hew, CUC President and Chief Executive Officer, noted that the
Company experienced minor wind damage that resulted in sporadic power outages
during the storm. "Eleven of our 23 circuits lost power during Dean affecting
a total of 13,200 of our 23,000 customers," said Mr. Hew. "Restoration of
service commenced as soon as the winds abated to a level that line crews could
work safely, and power was restored to all areas by late Monday evening.
Otherwise, I am happy to report that our generating and transmission and
distribution systems were unaffected by Dean."
CUC is the sole provider of electricity to Grand Cayman, Cayman Islands
and operates under a 25-year exclusive Licence renewable in 2011 with the
Government of the Cayman Islands.
Caribbean Utilities Company, Ltd., on occasion, may include
forward-looking statements in its media releases, Canadian securities
regulatory authorities filings, shareholder reports and other communications.
Forward-looking statements are based on certain assumptions by their very
nature and are subject to certain risks and uncertainties that may cause
actual results to vary from plans, objectives and estimates. Such risks and
uncertainties include but are not limited to general economic, market and
business conditions, regulatory developments and weather. Caribbean Utilities
Company, Ltd. cautions readers that actual results may vary significantly from
those expected should certain risks or uncertainties materialize or should
underlying assumptions prove incorrect.
For further information:
For further information: Rob Imparato, Company Secretary and Chief
Governance Officer, Phone: (345) 949-5200