AltaGas Utility Group Inc.
TSX : AUI

AltaGas Utility Group Inc.

November 16, 2006 18:01 ET

AltaGas Utility Group Inc. Announces New Chief Financial Officer

CALGARY, ALBERTA--(CCNMatthews - Nov. 16, 2006) - AltaGas Utility Group Inc. (Utility Group or the Corporation) (TSX:AUI) today announced that Mr. Jim Leonidas is joining Utility Group as Chief Financial Officer and Corporate Secretary, effective December 4, 2006. Mr. Leonidas most recently held the position of Executive Vice President and Chief Financial Officer for AltaLink, L.P. He is a Chartered Accountant and engineer with over 15 years of international and Canadian management and financing experience. Mr. Leonidas' knowledge and experience will complement the current management team as Utility Group continues to implement its strategy to enhance shareholder value.

Deborah Stein, who currently holds the position of Chief Financial Officer and Corporate Secretary for Utility Group, will resign to concentrate full time on her Vice President Controller duties with AltaGas Income Trust.

"I would like to thank Debbie for her assistance with the start up and first year of operations of Utility Group. Her competence, pragmatic attitude and attention to detail helped get us off on the right foot," said Patricia Newson, President and Chief Executive Officer of Utility Group.

AltaGas Utility Group Inc. is a publicly traded company holding interests in AltaGas Utilities Inc., Heritage Gas Limited and Inuvik Gas Ltd. Combined, these regulated natural gas distribution businesses serve more than 63,000 customers in three areas of Canada through delivery infrastructures of nearly 20,000 kilometres of pipe. Utility Group intends to pursue opportunities to invest in high quality utility companies with long-term, stable returns.

AltaGas Utility Group's 8.2 million common shares began trading on the Toronto Stock Exchange under the symbol AUI on November 17, 2005.

This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to Utility Group or an affiliate of the Corporation, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Corporation's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Corporation's public disclosure documents. Many factors could cause the Corporation's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Corporation does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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