SALE OF THE H.R. MILNER POWER STATION

Calgary, Alberta January 29, 2004 - The Balancing Pool announced today that it has closed the sale of the H.R. Milner power station with the Milner Power Limited Partnership ("MPLP"), a consortium of investors headed by Maxim Power Corp. The H.R. Milner plant is a 144 MW coal fired power station located near the town of Grande Cache, Alberta, which has been operated by ATCO Power Ltd. for the benefit of the Balancing Pool.

"We are very pleased to have concluded this transaction with MPLP" said Gary Reynolds, President and CEO of the Balancing Pool "and we appreciate the co-operation of ATCO and the contribution from our Sale Committee in reaching this goal. We also extend our thanks to the members of the H.R. Milner Operating Committee for their efforts over the past three years."

Heenan Blaikie LLP and Macquarie North America Ltd. acted as counsel and advisors respectively to the Balancing Pool on this transaction.

For more information, please contact:

Gary ReynoldsPresident and CEO(403) 538-3443