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IPL SHARE BLOCK TO BE OFFERED TO THE PUBLIC

 IPL SHARE BLOCK TO BE OFFERED TO THE PUBLIC
 EDMONTON, Alberta, March 5 /PRNewswire/ -- The board of directors of


Interprovincial Pipe Line Inc. (NASDAQ: IPPIF; Toronto, Montreal: IPL) (IPL) announced today it will fully support GW Utilities' (AMEX: GWT; Toronto, Montreal, Vancouver: GWT) (GW) announced intention to sell its IPL shares.
 The IPL board, at a meeting today, approved the filing of a preliminary prospectus that will facilitate the secondary offering of the IPL shares held by GW.
 Approximately 63.5 percent of IPL's 39.7 million outstanding shares are held by GW.
 GW has accepted a proposal to sell 25.2 million shares to a group of underwriters led by ScotiaMcLeod Inc. The underwriters will offer the IPL shares in a public offering on an instalment basis. Holders of instalment receipts will be entitled to receive dividends and to vote at shareholder meetings of IPL in the same manner as if they were registered holders of IPL shares.
 Brian MacNeill, president and chief executive officer of IPL, said that the sale will have no impact on IPL's operations. MacNeill added that the offering will not affect IPL's planned corporate reorganization which will be presented for approval by its shareholders at the annual meeting. No changes in IPL management are contemplated.
 It is expected the sale of the shares will be completed by the end of March 1992.
 IPL shares have not been, and will not be, registered under the United States Securities Act of 1933, and, subject to certain exceptions, may not be offered or sold in the United States or to U.S. persons.
 -0- 3/5/92
 /CONTACT: Len Bradley of Interprovincial Pipe Line Inc., 403-420-8166/
 (IPPIF GWT) CO: Interprovincial Pipe Line Inc. ST: Alberta IN: OIL SU:


AL -- LA030 -- 5649 03/05/92 17:24 EST
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Publication:PR Newswire
Date:Mar 5, 1992
Words:300
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