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Press release from Marketwire

AltaGas Ltd. Completes Blair Creek Facility Expansion

Tuesday, August 21, 2012

AltaGas Ltd. Completes Blair Creek Facility Expansion11:31 EDT Tuesday, August 21, 2012CALGARY, ALBERTA--(Marketwire - Aug. 21, 2012) -AltaGas Ltd. ("AltaGas") (TSX:ALA) (TSX:ALA.PR.A) (TSX:ALA.PR.U) (TSX:ALA.R) today announced the successful commissioning of the 50 Mmcf/d Blair Creek facility expansion which will provide processing capacity to producers developing the liquid-rich Montney resource play. The Blair Creek expansion volumes represent approximately a 5 percent increase in total gas processing throughput and will add $8 to $10 million of annual EBITDA. "We are pleased to announce the commissioning of the expansion and look forward to continuing to work with producers in the liquids-rich Montney area," said David Cornhill, Chairman and CEO of AltaGas. "This project demonstrates that we are executing our growth strategy to add over $500 million in new gas assets and $75 million in annualized EBITDA." The Montney resource area located in northeast B.C. is one of the largest, low cost, liquid-rich resource plays in the Western Canadian Sedimentary Basin. The expansion is underpinned by long-term contracts with three active producers in the area.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