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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Kerm Yerman who wrote (11562)	7/2/1998 2:10:00 PM
From: SofaSpud	Respond to of 15196

PIPELINES / IPL Warrants Exercised IPL Energy Announces Exercise of Warrant by Noverco Inc. CALGARY, ALBERTA--(June 30, 1998) IPL Energy Inc. announced the exercise today by Noverco Inc. of a warrant to purchase 1,500,000 common shares of IPL Energy.ÿ The warrant was issued in August 1997 in connection with the acquisition by IPL Energy of a 32 percent interest in Noverco and the acquisition by Noverco of an 8 percent interest in IPL Energy.ÿ Through IPL Energy's investment it became a partner with Hydro-Qu,bec and Gaz de France in the development and operation of gas pipelines and distribution systems to service Qu,bec and the northern New England states in the United States. Proceeds to IPL Energy of the warrant exercised will total $76.5 million with settlement scheduled for November 13, 1998.ÿ Upon settlement, Noverco will hold an approximate 10 percent interest in IPL Energy. IPL Energy Inc. is a leader in energy delivery and services, operating the world's longest crude oil and liquids pipeline system, and Canada's largest natural gas distribution company through The Consumers' Gas Company Ltd. which serves 1.4 million residential, commercial and industrial customers in south central and eastern Ontario, Qu,bec and Upper New York State.ÿ IPL Energy's common shares trade on the Toronto and Montreal stock exchanges in Canada under the symbol "IPL".ÿ In the United States the shares trade on the NASDAQ under "IPPIF". -30- FOR FURTHER INFORMATION PLEASE CONTACT: IPL Energy Inc. Media Contact Byron Neiles (403) 231-5916 (403) 231-4844ÿ (FAX) byron.neiles@iplenergy.com iplenergy.com or IPL Energy Inc. Investment Community Contact Al Monaco (403) 231-3973 (403) 231-4848ÿ (FAX) al.monaco@iplenergy.com