L.F. Investments (Barbados) Limited Announces Purchase of Husky Energy Inc.
Common Shares

TORONTO, Nov. 30 /CNW/ - L.F. Investments (Barbados) Limited, currently the holder of 307,603,402 common shares of Husky Energy Inc. ("Husky") (TSX: HSE), representing approximately 36.19% of the outstanding Husky common shares, announced today that it has entered into a subscription agreement to purchase on a private placement basis an additional 14,771,428 Husky common shares for a subscription price of $361,899,986. The closing of the private placement is subject to certain conditions, including the concurrent closing of Husky's public offering of 11,942,858 common shares also announced today and the private placement of common shares to another placee.

L.F. Investments (Barbados) Limited is 100% indirectly owned by Mr. Li Ka-shing ("Mr. Li") and a trust of which members of Mr. Li's family are discretionary beneficiaries, and is indirectly controlled by Mr. Li through the ownership of voting preferred shares.

L.F. Investments (Barbados) Limited is purchasing the private placement shares in order to maintain its existing percentage ownership position in Husky