Tidal Announces New Equity Partnership: Dynegy to Become 50 Percent Shareholder.

Business Editors

CALGARY, Alberta--(BUSINESS WIRE)--Dec. 6, 2001

Tidal Energy; Enbridge Inc. (NYSE:ENB) (TSE:ENB.); Dynegy Inc. (NYSE:DYN)

Tidal Energy Marketing Inc. announced today that effective January 2, 2002, Dynegy Canada Inc. will become a 50 percent owner of Tidal, a leading crude oil marketer in Canada that provides marketing services to a number of oil and gas production companies and acts as marketing agent for the Province of Alberta.

Effective January 2, 2002, Conoco Canada Inc. will sell its 50 percent share of Tidal to Enbridge Inc. Enbridge will then sell 50 percent of Tidal to Dynegy Canada Inc., a wholly owned subsidiary of Dynegy Inc. of Houston, Texas. Enbridge Inc. will retain a 50 percent interest in Tidal.

"Tidal is one of the premier crude oil marketers in Canada and has a strong track record of delivering valued marketing services to customers," said David Pope, president of Dynegy Canada Inc. "When combined with our existing marketing acumen, our investment in Tidal will expand our capabilities and product offerings, enabling us to meet the growing needs of customers."

Dynegy Inc. (NYSE:DYN) is one of the world's premier energy merchants. Through its global energy delivery network and marketing, logistics and risk management capabilities, Dynegy provides innovative solutions to customers in North America, the United Kingdom and Continental Europe.

Through Dynegy Canada, Dynegy has been an active participant in Canadian energy markets since 1994. With headquarters in Calgary, Alberta, Dynegy Canada is one of the country's largest marketers and traders of natural gas, electricity, crude oil and natural gas liquids.

Enbridge Inc. (TSE/NYSE:ENB) is a leader in energy transportation, distribution and services in North America and internationally with headquarters in Calgary, Alberta.