WESTCOAST ENERGY INC.

WESTCOAST ENERGY INC.
Union Gas Limited

Union Gas Limited

August 11, 2006 16:24 ET

Westcoast Energy and Union Gas Declare Dividends

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 11, 2006) - On August 11, 2006, Westcoast Energy Inc. declared the following quarterly dividends:

1. 5.50% CUMULATIVE FIRST PREFERRED SHARES, SERIES 7: A dividend of 34.375 cents per share payable on October 15, 2006 to shareholders of record at the close of business on October 1, 2006.

2. 5.60% CUMULATIVE FIRST PREFERRED SHARES, SERIES 8: A dividend of 35.00 cents per share payable on October 15, 2006 to shareholders of record at the close of business on October 1, 2006.

Also on August 11, 2006, Union Gas Limited declared the following quarterly dividends:

1. 5 1/2% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES A: A quarterly dividend of 68 cents per share payable on September 30, 2006 to shareholders of record at the close of business on September 8, 2006.

2. 6% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES B: A quarterly dividend of 75 cents per share payable on September 30, 2006 to shareholders of record at the close of business on September 8, 2006.

3. 5% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES C: A quarterly dividend of 62.5 cents per share payable on September 30, 2006 to shareholders of record at the close of business on September 8, 2006.

4. CUMULATIVE REDEEMABLE CONVERTIBLE CLASS B PREFERENCE SHARES, SERIES 11: A quarterly dividend of 29.9375 cents per share payable on September 30, 2006 to shareholders of record at the close of business on August 31, 2006.

Westcoast Energy Inc. and Union Gas Limited are indirect subsidiaries of Duke Energy Corporation. Duke Energy is a diversified energy company with a portfolio of natural gas and electric businesses, both regulated and unregulated, and an affiliated real estate company. Duke Energy supplies, delivers and processes energy for customers in the Americas. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.

Contact Information

  • Westcoast Energy Inc.
    Sue Malcolm
    (403) 699-1506 or 24-Hour: (704) 382-8333