Enbridge Inc.

Enbridge Inc.

March 01, 2005 16:15 ET

Enbridge Board Recommends 2-for-1 Stock Split




MARCH 1, 2005 - 16:15 ET

Enbridge Board Recommends 2-for-1 Stock Split

CALGARY, ALBERTA--(CCNMatthews - March 1, 2005) - Enbridge Inc.
(TSX:ENB) (NYSE:ENB) today announced that its Board of Directors will
recommend that shareholders approve a two-for-one stock split at the
Company's Annual and Special Meeting of Shareholders on May 5, 2005. In
addition to shareholder approval, the stock split is subject to required
regulatory approvals. Upon completion of the stock split, the number of
outstanding shares would double from approximately 174 million to 348
million. Enbridge's last stock split occurred in May 1999.

"This proposed stock split reflects the Board's and Management's
continued confidence in Enbridge's business fundamentals," said Enbridge
President & Chief Executive Officer Patrick D. Daniel. "Enbridge shares
would be more accessible to retail shareholders, which should broaden
Enbridge's shareholder base and enhance liquidity and trading of our
common shares."

If approved by shareholders on May 5, 2005, and subject to regulatory
approvals, the record date for the stock split is expected to be May 20,
2005. As of that date, each shareholder of record would receive one
additional common share for each common share he or she holds. Subject
to the preceding approvals and pursuant to the rules of the Toronto
Stock Exchange, Enbridge's common shares would commence trading on a
divided basis at the opening of business on or about May 18, 2005, which
is the second trading day preceding the record date. Subject to similar
approvals, the trading of the common shares on a divided basis on the
New York Stock Exchange would occur on or about May 18 as well.

Enbridge will announce the results of the shareholder vote in respect of
the proposed stock split on May 5, following the meeting and vote. If
approved, it is anticipated that new Enbridge stock certificates would
be mailed approximately May 27, 2005.

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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