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Press release from Marketwire

Canadian Utilities Limited Announces Redemption of Perpetual Cumulative Second Preferred Shares Series 'O', 'T', and 'U'

Tuesday, October 25, 2011

Canadian Utilities Limited Announces Redemption of Perpetual Cumulative Second Preferred Shares Series 'O', 'T', and 'U'19:39 EDT Tuesday, October 25, 2011CALGARY, ALBERTA--(Marketwire - Oct. 25, 2011) - Canadian Utilities Limited announced today that it will redeem on Dec. 2, 2011 all of its outstanding Perpetual Cumulative Second Preferred Shares Series 'O', 'T', and 'U' at a price of $25.00 per share plus accrued and unpaid dividends per share. The $100 million aggregate cost of redemption will be funded from cash.SharesTSX StockDividend Per ShareSeriesRateOutstandingSymbol($) Series O 4.35% 1,600,000 Not listed 0.271875 Series T 4.35% 1,600,000 Not listed 0.271875 Series U 4.35% 800,000 Not listed 0.271875 Alberta-based Canadian Utilities Limited, an ATCO company, with more than 6,000 employees and assets of approximately $11 billion, delivers service excellence and innovative business solutions worldwide with leading companies engaged in Utilities (pipelines, natural gas and electricity transmission and distribution), Energy (power generation, natural gas gathering, processing, storage and liquids extraction) and Technologies (business systems solutions). More information can be found at www.canadian-utilities.com.Forward-Looking Information: Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identifiedby theuse of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertaintiesand other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Corporation believes that the expectations reflectedinthe forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.In particular, there can be no assurance that a transaction will be completed. Any forward-looking information contained in this news release represents the Corporation's expectations as of the datehereof, and is subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.FOR FURTHER INFORMATION PLEASE CONTACT: B.R. (Brian) BaleCanadian Utilities LimitedSenior Vice President & Chief Financial Officer(403) 292-7502