EPCOR Preferred Equity Inc. announces intent to redeem preferred shares

    EDMONTON, Aug. 10 /CNW/ - EPCOR Preferred Equity Inc. (TSX: EPE.PR.A), a
subsidiary of EPCOR Utilities Inc. ("EPCOR"), announces its intention to
redeem all of the outstanding Cumulative Redeemable First Preferred Shares,
Series I ("the Preferred Shares") on September 30, 2007 at a redemption price
of $25.00 per Preferred Share. The Preferred Shares were issued to investors
by EPCOR Preferred Equity Inc. on September 27, 2002.
    EPCOR will fund the redemption from cash balances and funds available
under its revolving credit facilities.

    EPCOR 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 seven consecutive years. EPCOR Preferred Equity
Inc. and EPCOR are headquartered in Edmonton, Alberta. EPCOR's web-site is

For further information:

For further information: Media inquiries: Mike Gibbs, (780) 412-8877;
Shareholder and analyst inquiries: Samuel Myers, (403) 717-8179 or toll free
at (866) 896-4636

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