Canadian Utilities Limited: Brian R. Bale Named Senior Vice President and Chief Financial Officer

Karen M. Watson to retire after 33-year career with the company

 
Karen M. Watson to retire after 33-year career with the company

CALGARY, ALBERTA--(Marketwire - Nov. 12, 2009) - The Board of Directors of Canadian Utilities Limited today announced that Brian R. Bale has been appointed Senior Vice President and Chief Financial Officer, Canadian Utilities Limited, effective December 1, 2009. Mr. Bale, currently Senior Vice President, Finance and Regulatory, ATCO Gas, replaces Karen M. Watson who will retire after 33 years of dedicated service to ATCO Group.

"Karen has made significant contributions to the company and has been an outstanding CFO," said Nancy Southern, Deputy Chairman, President and Chief Executive Officer. "Her leadership in directing our financial strategy has built a strong foundation for Canadian Utilities' continued growth and success."

Mr. Bale joined ATCO Group in 1981. He held a variety of finance and regulatory management positions within the company and was appointed an Officer of ATCO Electric in 2001. Over the past eight years, Mr. Bale has held progressively responsible executive positions and was most recently named Senior Vice President, Finance and Regulatory, ATCO Gas. He attended Concordia University, earning a Bachelor of Commerce degree in 1977 and is a Certified Management Accountant.

"Brian's financial and regulatory background, combined with his strategic planning, leadership and sound judgement, will be important contributors to our future accomplishments," Ms. Southern said.

Alberta-based Canadian Utilities Limited, with more than 7,700 employees and assets of approximately $9.1 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 natural gas liquid extraction), Structures & Logistics (manufacturing, logistics and noise abatement) and Technologies (business systems solutions). More information can be found at www.canadian-utilities.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.

Canadian Utilities Limited Nancy C. Southern Deputy Chairman, President & CEO (403) 292-7561 www.canadian-utilities.com