Enbridge Inc.

Enbridge Inc.

January 03, 2005 16:15 ET

Enbridge Completes Acquisition of Gulf of Mexico Offshore Systems


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ENBRIDGE INC.

TSX, NYSE SYMBOL: ENB

JANUARY 3, 2005 - 16:15 ET

Enbridge Completes Acquisition of Gulf of Mexico
Offshore Systems

CALGARY, ALBERTA--(CCNMatthews - Jan. 3, 2005) - Enbridge Inc. (TSX:ENB)
(NYSE:ENB) today announced that its wholly-owned U.S. subsidiary,
Enbridge (U.S.) Inc., has completed the purchase, effective January 1,
2005, of Shell Gas Transmission, LLC (SGT) from Shell US Gas & Power LLC
for US$613 million plus associated working capital.

The newly acquired Gulf of Mexico offshore natural gas pipeline assets
include ownership interests in 11 transmission and gathering pipelines
in five major pipeline corridors that transport approximately 3 billion
cubic feet per day. The 1,482 miles (2380 kilometres) of pipeline
transport approximately half of all deepwater natural gas production in
the Gulf of Mexico.

"The successful acquisition of these strategic offshore Gulf assets
underlines our commitment to organic growth and to being one of the
nation's leading energy transporters," said Dan C. Tutcher, Enbridge
Group Vice President, Transportation South. "We are now well positioned
to move much of the developing deepwater gas supply and to accommodate
the potential transport needs of several proposed LNG re-gasification
projects.

"I am also extremely pleased that most of the SGT employees and
management team have chosen to join our Houston-based business unit,
which will enable us to quickly integrate these assets into our natural
gas business and will further add to the industry knowledge and savvy of
our excellent natural gas operations and business teams."

Enbridge Inc. is a leader in energy transportation and distribution in
North America and internationally. As a transporter of energy, Enbridge
operates, in Canada and the U.S., the world's longest crude oil and
liquids transportation system. The Company also has international
operations and a growing involvement in the natural gas transmission and
midstream businesses. As a distributor of energy, Enbridge owns and
operates Canada's largest natural gas distribution company, and provides
distribution services in Ontario, Quebec, New Brunswick and New York
State. Enbridge employs approximately 4,000 people, primarily in Canada,
the U.S. and South America. Enbridge's common shares trade on the
Toronto Stock Exchange in Canada and on the New York Stock Exchange in
the U.S. under the symbol ENB. Information about Enbridge is available
on the Company's web site at www.enbridge.com.

Certain information provided in this news release constitutes
forward-looking statements. The words "anticipate", "expect", "project",
"estimate", "forecast" and similar expressions are intended to identify
such forward-looking statements. Although Enbridge believes that these
statements are based on information and assumptions which are current,
reasonable and complete, these statements are necessarily subject to a
variety of risks and uncertainties pertaining to operating performance,
regulatory parameters, weather, economic conditions and commodity
prices. You can find a discussion of those risks and uncertainties in
our Canadian securities filings and American SEC filings. While Enbridge
makes these forward-looking statements in good faith, should one or more
of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary significantly from
those expected. Enbridge assumes no obligation to publicly update or
revise any forward-looking statements made herein or otherwise, whether
as a result of new information, future events or otherwise.

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