EPCOR Preferred Equity Inc. completes redemption of preferred shares

    EDMONTON, Oct. 1 /CNW/ - EPCOR Utilities Inc. ("EPCOR") announces that
its subsidiary, EPCOR Preferred Equity Inc. (TSX: EPE.PR.A), has completed the
redemption of all of the outstanding Cumulative Redeemable First Preferred
Shares, Series I ("the Preferred Shares") effective September 30, 2007 at a
redemption price of $25.00 per Preferred Share.
    The notice of redemption was previously announced by EPCOR on August 10,

    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: Tim LeRiche, (780) 969-8238;
Shareholder and analyst inquiries: Randy Mah, (780) 412-4297 or toll free at
(866) 896-4636

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