Enbridge Inc.

Enbridge Inc.

June 17, 2008 10:20 ET

Enbridge Closes Sale of CLH Investment

CALGARY, ALBERTA--(Marketwire - June 17, 2008) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) announced today that the sale of its 25% stake in Compania Logistica de Hidrocarburos CLH, S.A. ("CLH") to a buyers group consisting of subsidiaries of Deutsche Bank AG, Stichting Pensioenfonds Zorg en Welzijn, AMP Capital Investors and another institutional investor, has closed.

The all-cash consideration for Enbridge's stake in CLH totals EUR 876 million (approximately CDN $1.38 billion), of which EUR 865 million was received in closing and the balance represents a special dividend which has been declared but not yet received. Proceeds from the sale of this interest will be applied toward funding Enbridge's extensive list of expansion projects in its core North American crude oil pipeline business.

About Enbridge

Enbridge Inc., a Canadian company, 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 5,600 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. Except as may be required by applicable securities laws, 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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