Enbridge Inc.
TSX : ENB
NYSE : ENB

Enbridge Inc.

December 18, 2006 16:15 ET

Enbridge Inc. to Redeem 7.80% Preferred Securities

CALGARY, ALBERTA--(CCNMatthews - Dec. 18, 2006) - Enbridge Inc. (TSX:ENB)(NYSE:ENB) announced today its intention to redeem all 8,000,000 of its outstanding 7.80% preferred securities, at a price of $25.00 each plus accrued interest of $0.2458 per security, for the period following the previously announced December 31, 2006 interest payment date. The redemption date is February 15, 2007, for all of the 7.80% preferred securities, originally issued in February 2002.

As described in the final prospectus for the preferred securities, the redemption price is $25 per preferred security plus accrued and unpaid interest to the redemption date. As of the redemption date, interest will cease to accrue. The redemption price and accrued interest will be credited to the accounts of beneficial holders through their individual brokers. Beneficial holders may contact their individual brokers for additional information about payments.

The 7.80% preferred securities trade on the Toronto Stock Exchange under the symbol "ENB.PR.D".

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 United States, the world's longest crude oil and liquids pipeline system. 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. The Company also has international operations and a growing involvement in the natural gas transmission and midstream businesses. Enbridge employs approximately 5,000 people, primarily in Canada, the United States and South America. Information about Enbridge is available on the Company's website at www.enbridge.com.

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