Appointment of Chief Financial Officer

January 26, 2004

The Balancing Pool announces the appointment of Gloria Fournier to the position of Chief Financial Officer, effective January 12, 2004. Gloria joins the Balancing Pool with over 15 years experience in the energy industry of which the majority was spent in the electricity industry, both regulated and independent power.

Gloria graduated in commerce from the University of Saskatchewan before completing a Chartered Accountant designation. In the 6 years she worked with a major accounting firm, most of her clients were in the oil and gas sector. In 1994 she moved to TransAlta where she held a variety of positions in both the corporate and generation business units. Gloria's experience at TransAlta included several years in the tax department, leading the financial integration of TransAlta's largest international acquisition and the analyst group in the corporate development group and most recently, filling a new position as Financial Director in the generation business.