Waneta Expansion Project preferred Proponent announced

    CASTLEGAR, BC, May 21 /CNW/ - The Waneta Expansion Power Corporation, a
subsidiary of Columbia Power Corporation and Columbia Basin Trust, is pleased
to announce that it has passed another key milestone in the pre-development of
the Waneta Expansion Project. SNC-Lavalin Inc. is the initial preferred
Proponent for design and construction of the Waneta Expansion Project. This
project involves the design and construction of a second powerhouse at the
Waneta Dam on the Pend d'Oreille River, south of Trail, BC.
    Proposals received in response to a Request for Proposals (RFP) were
evaluated following the guidelines and process established in the RFP.
Commencement of negotiations towards contract finalization with the preferred
Proponent is the next step in the RFP process, which may take several months
to complete.
    While the announcement of a preferred design-build proponent is a crucial
step, planning to determine whether the project will ultimately move ahead is
ongoing. Work with respect to project financing and commercial arrangements
towards a power purchase agreement continue, and in accordance with the RFP
the viability of the project will be re-assessed upon completion of that work
and contract finalization with the preferred proponent.
    Project commencement is subject to Board and Provincial approvals and,
depending on the outcome, construction of the project could begin as early as
fall 2009.
    For more information on the Waneta Expansion Project or Columbia Power
Corporation, visit the Columbia Power website at www.columbiapower.org. For
information on Columbia Basin Trust, visit www.cbt.org.

For further information:

For further information: Audrey Repin, Director, Communications and
Community Relations, Columbia Power Corporation, Ph. (250) 304-6044 or Cell
(250) 365-9502

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