Rainbow Pipe Line Company, Ltd. Seeks Proposals for the Sale of the Company

    TORONTO, Sept. 12 /CNW/ - The shareholders of Rainbow Pipe Line Company,
Ltd (the "Company" or "Rainbow") have retained CIBC World Markets Inc. ("CIBC
World Markets") as their exclusive financial advisor to seek proposals on the
sale of the Company.
    The Rainbow pipeline extends from Zama Lake, Alberta to Edmonton,
Alberta. The main transportation line is 470 miles long and consists of 20"
and 24" diameter pipe. In addition to the main line, there are 138 miles of
gathering pipelines which collect oil from over 50 oil batteries along the
pipeline corridor. Current throughput is approximately 195,000 bbl/d.

    Confidential Information is expected to be available to qualified
interested parties in September. Interested parties can call Tim Watson, Gerry
Stevenson or Denis Rajotte at CIBC World Markets at 403-260-0501, 403-216-3013
or 403-260-0520 respectively.

    CIBC World Markets is the wholesale and corporate banking arm of CIBC,
providing a range of integrated credit and capital markets products,
investment banking, and merchant banking to clients in key financial markets
in North America and around the world. We provide innovative capital solutions
and advisory expertise across a wide range of industries as well as top-ranked
research for our corporate, government and institutional clients.

For further information:

For further information: Kevin Dove, Communications and Public Affairs
at (416) 980-8835, kevin.dove@cibc.ca

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