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Press release from Marketwire

AltaGas' Mclymont Creek and Volcano Creek Impact Benefit Agreements Ratified by the Tahltan First Nation

Thursday, September 15, 2011

AltaGas' Mclymont Creek and Volcano Creek Impact Benefit Agreements Ratified by the Tahltan First Nation23:47 EDT Thursday, September 15, 2011CALGARY, ALBERTA--(Marketwire - Sept. 15, 2011) - AltaGas Ltd. (AltaGas) (TSX:ALA) today announced that it has received notification from the Tahltan Central Council that the Tahltan membership voted in favour of the Impact Benefit Agreements (IBAs) for its McLymont Creek and Volcano Creek run-of-river hydroelectric projects. These projects are located near AltaGas' 195-MW Forrest Kerr project, currently under construction, approximately 1,000 km north of Vancouver, BC. AltaGas expects the Forrest Kerr project to come into service in 2014, followed by McLymont Creek in 2015 and Volcano Creek in 2016. Collectively the projects are known as the Northwest Projects."The positive outcome of the ratification vote on the IBAs related to these projects reflects our strong working relationship with the Tahltan Nation that brings significant employment and business opportunities and economic participation in our Northwest Projects." said David Cornhill, Chairman and Chief Executive Officer of AltaGas. "The IBAs are an important step in the continued development of AltaGas' Northwest Projects and of our power business. Our Northwest Projects will provide the people of British Columbia with clean and reliable power while increasing value to our shareholders with stable, long-term cash flow." "This is an exciting and pivotal time for our Nation. Our leadership team has worked hard to negotiate agreements in the best interests of our people and our Nation and we are pleased the relationship built between AltaGas and the Tahltan Nation has resulted in the majority of Tahltans ratifying the Impact Benefit Agreements for the McLymont Creek and Volcano Creek projects," said Annita McPhee, Chair of the Tahltan Central Council. "These agreements will enable us to continue to foster social, cultural, economic and environmental health within our community."The Northwest Projects are to be constructed wholly within Tahltan Nation traditional territory and are expected to cost approximately $1 billion. Once completed, the projects will provide enough electricity for approximately 95,000 homes in British Columbia and will offset more than 780,000 tonnes of greenhouse gas equivalents annually. The projects will deliver electricity to the terminus point of the previously announced 287-kV Northwest Transmission Line (NTL), near Bob Quinn, BC. BC Hydro is constructing the NTL.AltaGas is an energy infrastructure business with a focus on natural gas, power and regulated utilities. AltaGas creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on renewable energy sources. For more information visit: www.altagas.ca.This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect AltaGas' current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in AltaGas' public disclosure documents. Many factors could cause AltaGas' actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.FOR FURTHER INFORMATION PLEASE CONTACT: Investment CommunityAltaGas Ltd.1-877-691-7199investor.relations@altagas.caORMediaAltaGas Ltd.(403) 691-9873media.relations@altagas.cawww.altagas.ca