TransAlta Corporation

TransAlta Corporation

March 02, 2005 16:39 ET

TransAlta renews normal course issuer bid program


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TRANSALTA CORPORATION

TSX SYMBOL: TA
NYSE SYMBOL: TAC

MARCH 2, 2005 - 16:39 ET

TransAlta renews normal course issuer bid program

CALGARY, ALBERTA--(CCNMatthews - March 2, 2005) - TransAlta Corporation
(TSX:TA) (NYSE:TAC) announced today it has received regulatory approval
for the continuation of its normal course issuer bid program for the
sixth consecutive year. Consistent with prior years, the approval is to
purchase for cancellation up to three million of its common shares. The
shares represent approximately 1.54 per cent of the 195,114,023 common
shares of TransAlta issued and outstanding as of Feb. 15, 2005.

The program will begin on Mar. 4, 2005 and continue until Mar. 3, 2006,
or such earlier date as TransAlta may complete its purchases. Purchases
will be made on the open market through the Toronto Stock Exchange at
the market price of such shares at the time of acquisition. TransAlta
may also issue put options to facilitate the purchase of common shares
pursuant to the normal course issuer bid program.

In 2004, TransAlta purchased for cancellation 143,500 common shares at
an average price of $16.22 through the normal course issuer bid program.

TransAlta is a power generation and wholesale marketing company focused
on creating long-term shareholder value. We maintain a low-risk profile
for investors by operating a highly contracted portfolio of assets in
Canada, the U.S., Mexico and Australia. Our focus is to efficiently
operate our coal-fired, gas-fired, hydro and renewable facilities in
order to provide our customers with a reliable, low-cost source of
power. For more than 90 years we've been a responsible operator and a
proud contributor to communities where we work and live. TransAlta's Web
site is www.transalta.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    TransAlta Corporation - Media inquiries
    Tim Richter
    Senior Advisor, Media & Government Relations
    Phone: (403) 267-7238
    Pager: (403) 213-7041
    Email: media_relations@transalta.com
    or
    TransAlta Corporation - Investor inquiries
    Daniel J. Pigeon
    Director, Investor Relations
    Phone: (403) 267-2520 or 1-800-387-3598 in Canada and U.S.
    (403) 267-2590 (FAX)
    Email: investor_relations@transalta.com
    Website: www.transalta.com