Hydro Ottawa Holding Inc.

Hydro Ottawa Holding Inc.

March 11, 2008 13:55 ET

Hydro Ottawa Holding Inc.: Sale of Telecom Ottawa to Atria Networks to Move Forward

OTTAWA, ONTARIO--(Marketwire - March 11, 2008) - Hydro Ottawa Holding Inc. ("Hydro Ottawa") today confirmed its intent to move forward with a sale of Telecom Ottawa to Atria Networks LP ("Atria"), after a provision allowing superior offers to be submitted expired on Saturday.

A definitive agreement between the two parties announced on February 25 included a provision allowing Hydro Ottawa to consider superior offers received on or before March 8. No superior offer was received. The transaction with Atria will move forward according to the terms of the definitive agreement, and is expected to close in early April.

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