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ANG ANNOUNCES SUBSIDIARY ENTERS INTO AGREEMENT

 CALGARY, Alberta, April 1 /PRNewswire/ -- Alberta Natural Gas Co. Ltd. (Toronto, Montreal, Vancouver, Calgary: ANG) ("ANG") today announced that its wholly owned subsidiary, ANGUS Chemical Co. ("ANGUS"), has entered into an agreement with IMC Fertilizer Group Inc. and IMC Fertilizer Inc. (collectively "IMC") and Industrial Risk Insurers ("IRI") to settle a Texas suit related to the May 1, 1991, fire and explosion at ANGUS' basic nitroparaffins plant in Sterlington, La.
 The agreement calls for ANGUS and its property insurer, IRI, to receive payments from IMC over a three-year period. ANGUS' share of this settlement will be US $44 million. Separately, ANGUS has agreed to share a portion of its proceeds, approximately US $10 million, with its third-party liability carriers. In addition to the cash settlement, IMC has dropped its claim seeking reimbursement from ANGUS for US $9.8 million paid by IMC to the U.S. Occupational Safety and Health Administration, plus other related expenses.
 In commenting on the settlement, Gary W. Granzow, ANGUS' president, stated, "We are very pleased with this settlement and consider this a big step towards putting this tragic chapter in our history behind us. We can now focus all of our attention on meeting our customers' needs."
 ANG is a publicly traded company based in Calgary. ANGUS is a Delaware corporation headquartered in Buffalo Grove, Ill.
 -0- 4/1/93
 /CONTACT: Paula Abbott of Alberta Natural Gas Co., 403-691-7840/
 (ANG.)


CO: Alberta Natural Gas Co. Ltd.; ANGUS Chemical Co.; IMC Fertilizer
 Group Inc.; IMC Fertilizer Inc.; Industrial Risk Insurers ST: Alberta IN: OIL SU:


LS-JB -- LA030 -- 2248 04/01/93 17:08 EST
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Publication:PR Newswire
Date:Apr 1, 1993
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