ACO.Y ATCO Ltd

The Toronto Stock Exchange (the "Exchange") has accepted ATCO Ltd.'s (the
"Corporation") Notice of Intention to Make a Normal Course Issuer Bid (the
"Notice") pursuant to which the Corporation intends to make a normal course
issuer bid ("NCIB") for certain of its outstanding Class I Non-Voting Shares
("Class I Shares") on the terms set forth in the Notice. At the time of filing
the Notice, the Board of Directors of the Corporation was of the belief, and
continues to be of the belief, that the purchase of Class I Shares from time to
time at appropriate prices will minimize any dilution resulting from the
exercise of stock options to purchase Class I Shares and is an advantageous use
of the Corporation's funds.


On February 22, 2011, 51,074,956 Class I Shares were issued and outstanding.
Under the terms of the Notice and the rules of the Exchange, the Corporation may
acquire up to 1,532,248 Class I Shares of the Corporation (being 3% of the Class
I Shares issued and outstanding as at February 22, 2011, excluding any Class I
Shares held by or on behalf of the Corporation on such date), during the period
commencing on March 1, 2011 and ending on February 29, 2012 or such earlier date
on which the Corporation completes its purchases of Class I Shares under the
NCIB or terminates the NCIB at its option. The aggregate number of Class I
Shares that the Corporation may purchase under the NCIB during any trading day
is subject to a maximum daily purchase limit of 15,846 Class I Shares (being the
25% average daily trading volume for the six calendar months preceding the date
of the acceptance of the Notice) from March 1, 2011 to the termination of the
NCIB. Exceptions may be made to this daily purchase limit in accordance with the
"block purchase" exemptions of the Exchange policy.


Any Class I Shares purchased pursuant to the Notice will be cancelled. Class I
Shares will be purchased at the market price of the Class I Shares at the time
of purchase and will be purchased on behalf of the Corporation by a registered
investment dealer through the facilities of the Exchange and any alternate
trading systems through which trades of the Class I Shares may be effected under
applicable securities laws. Any purchase of Class I Shares pursuant to the NCIB
will be financed out of working capital of the Corporation.


The Corporation purchased 499,200 Class I Shares at an average trading price of
$54.59 during the most recent 12- month period preceding the date hereof
pursuant to a normal course issuer bid which commenced on March 1, 2010 and
expires on February 28, 2011. All of such purchases were made by means of open
market transactions through the facilities of the Exchange. Trustees under the
pension plans of affiliates of the Corporation purchased no Class I Shares
during the 12-month period preceding the date hereof.


A copy of the Notice may be obtained by any shareholder without charge by
contacting the Vice President, Administration & Corporate Secretary of the
Corporation at the head office of the Corporation.


Alberta-based ATCO Ltd., with more than 7,700 employees and assets of
approximately $10.0 billion, delivers service excellence and innovative business
solutions worldwide with leading companies engaged in Utilities (pipelines,
natural gas and electricity transmission and distribution), Energy (power
generation, natural gas gathering, processing, storage and liquids extraction),
Structures & Logistics (manufacturing, logistics and noise abatement) and
Technologies (business systems solutions). More information can be found at
www.atco.com.


Forward-Looking Information:

Certain statements contained in this news release may constitute forward-looking
information. Forward-looking information is often, but not always, identified by
the use of words such as "anticipate", "plan", "estimate", "expect", "may",
"will", "intend", "should", and similar expressions. Forward-looking information
involves 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 information. The Corporation believes that the expectations
reflected in the forward-looking information are reasonable, but no assurance
can be given that these expectations will prove to be correct and such
forward-looking information should not be unduly relied upon. Any
forward-looking information contained in this news release represents the
Corporation's expectations as of the date hereof, and is subject to change after
such date. The Corporation disclaims any intention or obligation to update or
revise any forward-looking information whether as a result of new information,
future events or otherwise, except as required by applicable securities
legislation.

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