February 21, 2002

EUB Approves ATCO Gas North Application to Distribute Proceeds From the Sale of its Viking Asssets

(Calgary, Alberta) - The Alberta Energy and Utilities Board (the Board) today approved an application by ATCO Gas North (AGN) to make lump-sum payments to AGN customers due to the sale of its Viking natural gas producing property.

The application was submitted to the Board after AGN negotiated a payment structure with the North Core Customer Group (NCC). The Board initiated a process to ensure the Application in the public interest and to allow customers to comment on the appropriateness of the proposed distribution.

Customers of record on March 2, 2002 - in all rate classes - will receive a lump sum payment based on 2001 annual consumption multiplied by $3.325 per gigajoule.

Decision 2002-018 also approves a holdback of $1 million from the proceeds of the sale to compensate customers that may be disadvantaged by the method of distribution.

In Decision 2001-104, issues December 11, 2001, the Board approved a joint recommendation between AGN and the NCC regarding the sale of the Viking production properties and subsequent allocation of proceeds, but not the method of payment to individual customers.

-30-

This news release, Decision 2002-018, and Decision 2001-104 are available on the EUB Web site at http://www.eub.gov.ab.ca.