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

To: Herb Duncan who wrote (12682)	10/7/1998 6:54:00 AM
From: Herb Duncan	Read Replies (4) \| Respond to of 15196

PIPELINES / IPL Energy Changes Name to Enbridge Inc. TSE, ME SYMBOL: IPL NASDAQ SYMBOL: IPPIF OCTOBER 6, 1998 CALGARY, ALBERTA--October 6, 1998 - IPL Energy Inc. today became Enbridge Inc. as shareholders approved the name change at a special meeting of shareholders in Calgary. President & Chief Executive Officer Brian F. MacNeill called the change "one of the most responsible investments this company will ever make." The company is about more than just "pipelines" and "natural gas", he said. "As important as these services are to our present and future, being truly one company with one vision offers tremendous opportunities for further growth. With a single brand name to build on and nurture, we can leverage our identity across all our markets, building stronger levels of consumer and marketplace recognition and, ultimately, brand loyalty for the growing array of services we envision for our company." Deregulation, unbundling and convergence are changing the business landscape in the North American energy marketplace. Uniting the company's diversified operations under a single brand that becomes widely recognized for success in numerous businesses will open doors to new opportunities and help achieve business objectives. A single brand is needed now, said Mr. MacNeill, because "we need to move faster than the marketplace, which is moving very rapidly these days." Enbridge is a coined word, the fusion of two central ideas about the company: "energy", which is the primary focus; and "bridge", which signifies the connection the company will continue to make with energy customers around the world. The company can now begin phasing out the IPL Energy name and the more than 20 other brands that the company currently operates under. Pipeline operations will adopt the name immediately, while Consumers Gas will be known as "Enbridge Consumers Gas" during a transition period. Enbridge expects that a single brand will support immediate cost savings and create significant administrative and marketing efficiencies. The company's common shares trade on the Toronto and Montreal stock exchanges in Canada under the symbol "IPL" and on The NASDAQ National Market in the U.S. under the symbol "IPPIF". Effective October 13, 1998, those symbols are scheduled to change to "ENB" and "ENBRF", respectively. Enbridge Inc. is a leader in energy transportation, distribution and services. As a transporter of energy, Enbridge operates in Canada and the U.S. the world's longest crude oil and liquids pipeline system, is involved in liquids marketing and international energy projects, and has a growing involvement in natural gas transmission. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, which provides gas and retail services in Ontario, Quebec and New York State, and is involved in the generation and distribution of electricity. In addition, Enbridge provides retail energy products and services to a growing number of Canadian and U.S. markets. Enbridge employs more than 5,000 people in Canada, the U.S. and South America. A copy of the Enbridge logo is available at the IPL Energy web site, at www.iplenergy.com.