ACO.Y ATCO Ltd

ATCO's (TSX:ACO.X) (TSX:ACO.Y) indirectly owned subsidiary, ATCO Pipelines and
TransCanada Corporation's (TSX:TRP) (NYSE:TRP) (TransCanada) wholly owned
subsidiary, NOVA Gas Transmission Ltd. (NGTL), have reached a proposed agreement
to provide seamless natural gas transmission service to customers. The gas
transmission model will utilize a single suite of services to provide integrated
gas transmission service which is expected to add value for customers as a
result of seamless efficient service throughout Alberta.


Both ATCO Pipelines and NGTL have been encouraged by their regulator and by
customers to explore collaborative concepts designed to streamline the provision
of natural gas transmission service across Alberta and to address competitive
pipeline issues. The seamless gas transmission model is the result of this
process.


If approved by the regulator, the arrangement will see the two companies combine
physical assets under a single rates and services structure with a single
commercial interface with customers but with each company separately managing
assets within distinct operating territories in the province. It is expected
that the model will end duplicative tolling and operational activities and will
result in more efficient regulatory processes.


The Alberta Utilities Commission concurs with the two companies meeting with
representatives of the various customer groups. The objective of the discussions
is to evaluate the long-term benefits and to determine rate and system design
principles with the various groups for ultimate approval by the regulator.


ATCO Pipelines, a subsidiary of Canadian Utilities Limited and part of the ATCO
Group of Companies, provides natural gas transmission services to producers in
the Western Canada Sedimentary Basin, marketers, industrial customers and gas
distribution companies in Alberta. Additional information on ATCO Pipelines can
be found at www.atcopipelines.com.


ATCO Group, an Alberta-based worldwide organization of companies with assets of
approximately $8.5 billion and more than 7,800 employees, is comprised of three
main business divisions: Power Generation, Utilities (natural gas and
electricity transmission and distribution) and Global Enterprises (industrials,
technology, logistics and energy services). More information about ATCO Ltd. can
be found at www.atco.com.


NOVA Gas Transmission Ltd. (NGTL) is an indirect, 100 per cent wholly-owned
subsidiary of TransCanada Corporation which owns and operates the
23,570-kilometre Alberta System. The Alberta System gathers natural gas for use
within the province and delivers it to provincial boundary points for connection
with export pipelines.


With more than 50 years' experience, TransCanada is a leader in the responsible
development and reliable operation of North American energy infrastructure
including natural gas pipelines, power generation, gas storage facilities, and
projects related to oil pipelines and LNG facilities. TransCanada's network of
wholly owned pipelines extends more than 59,000 kilometres (36,500 miles),
tapping into virtually all major gas supply basins in North America. TransCanada
is one of the continent's largest providers of gas storage and related services
with approximately 355 billion cubic feet of storage capacity. A growing
independent power producer, TransCanada owns, or has interests in, over 10,900
megawatts of power generation in Canada and the United States. TransCanada's
common shares trade on the Toronto and New York stock exchanges under the symbol
TRP.


Note: All financial figures are in Canadian dollars unless noted otherwise.

Forward-Looking Information:

ATCO Ltd.

Certain statements contained in this news release may constitute forward-looking
statements. Forward-looking statements are often, but not always, identified by
the use of words such as "anticipate", "plan", "expect", "may", "will",
"intend", "should", and similar expressions. These statements involve known and
unknown risks, uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such forward-looking
statements. The Corporation believes that the expectations reflected in the
forward-looking statements are reasonable, but no assurance can be given that
these expectations will prove to be correct and such forward-looking statements
should not be unduly relied upon.


The Corporation's actual results could differ materially from those anticipated
in these forward-looking statements as a result of regulatory decisions,
competitive factors in the industries in which the Corporation operates,
prevailing economic conditions, and other factors, many of which are beyond the
control of the Corporation.


The forward-looking statements contained in this news release represent the
Corporation's expectations as of the date hereof, and are subject to change
after such date. The Corporation disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required under applicable securities
regulations.


TransCanada Corporation:

This news release may contain certain information that is forward looking and is
subject to important risks and uncertainties. The words "anticipate", "expect",
"may", "should", "estimate", "project", "outlook", "forecast" or other similar
words are used to identify such forward looking information. All forward-looking
statements reflect TransCanada's beliefs and assumptions based on information
available at the time the statements were made. Actual results or events may
differ from those predicted in these forward-looking statements. Factors which
could cause actual results or events to differ materially from current
expectations include, among other things, the ability of TransCanada to
successfully implement its strategic initiatives and whether such strategic
initiatives will yield the expected benefits, the operating performance of the
Company's pipeline and energy assets, the availability and price of energy
commodities, regulatory processes and decisions, changes in environmental and
other laws and regulations, competitive factors in the pipeline and energy
industry sectors, construction and completion of capital projects, labour,
equipment and material costs, access to capital markets, interest and currency
exchange rates, technological developments and the current economic conditions
in North America. By its nature, such forward looking information is subject to
various risks and uncertainties, which could cause TransCanada's actual results
and experience to differ materially from the anticipated results or expectations
expressed. Additional information on these and other factors is available in the
reports filed by TransCanada with Canadian securities regulators and with the
U.S. Securities and Exchange Commission. Readers are cautioned not to place
undue reliance on this forward looking information, which is given as of the
date it is expressed in this news release or otherwise, and to not use
future-oriented information or financial outlooks for anything other than their
intended purpose. TransCanada undertakes no obligation to update publicly or
revise any forward looking information, whether as a result of new information,
future events or otherwise, except as required by law.

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