Enbridge Inc.

Enbridge Inc.
ExxonMobil Pipeline Company

June 05, 2007 07:30 ET

Enbridge and ExxonMobil Pipeline Company Announce Joint Effort to Assess Crude Oil Pipeline to the U.S. Gulf Coast

CALGARY, ALBERTA AND HOUSTON, TEXAS--(Marketwire - June 5, 2007) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) and ExxonMobil Pipeline Company (NYSE:XOM) announced today that the two companies have agreed to jointly assess the commercial development of a new pipeline project to transport crude oil from Patoka, Illinois, to Beaumont, Texas, and onward to Houston. The pipeline project would provide competitive and timely access for U.S. domestic and growing Canadian supplies of crude oil to be transported from the Patoka pipeline transportation hub to the U.S. Gulf Coast.

The two companies have been in discussions with potential shippers of Canadian crude about the scope, timing, and value of the project. Shipper interest and input will help guide the development of the project, which is targeted to be in service as soon as the end of 2010. A number of potential transportation solutions are being assessed and the specifics of the proposed project would be based on the final economics and shipper support.

"The capabilities and experience of the two companies lend strength to the proposal and will be complementary to Enbridge projects that are under development, including Southern Access Expansion and Southern Access Extension and Alberta Clipper," said Patrick D. Daniel, President and Chief Executive Officer, Enbridge Inc.

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 United States, the world's longest crude oil and liquids pipeline 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 5,000 people, primarily in Canada, the United States and South America. Enbridge's common shares trade on the Toronto Stock Exchange in Canada and on the New York Stock Exchange in the United States under the symbol ENB. Information about Enbridge is available on the Company's website at www.enbridge.com.

ExxonMobil Pipeline Company, an affiliate company of Exxon Mobil Corporation, is engaged in transporting crude oil, refined petroleum products, liquefied petroleum gases, natural gas liquids, and chemical feedstocks in the United States and the Gulf of Mexico. It also has ownership interests in joint interest pipelines, and operates proprietary and joint venture distribution terminals in the U.S. The company is headquartered in Houston, TX, and operates in 20 states.

Forward Looking Statements

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "will" and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements.

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