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Press release from Marketwire

Enbridge Announces Closing of US$400 Million Preferred Share Offering

Wednesday, March 27, 2013

Enbridge Announces Closing of US$400 Million Preferred Share Offering08:17 EDT Wednesday, March 27, 2013CALGARY, ALBERTA--(Marketwire - March 27, 2013) -NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S.Enbridge Inc. (TSX:ENB) (NYSE:ENB) today announced it has closed its previously announced public offering of Cumulative Redeemable Preference Shares, Series 1 (the "Series 1 Preferred Shares") by a syndicate of underwriters led by Scotiabank, CIBC, RBC Capital Markets, and TD Securities Enbridge issued 16 million Series 1 Preferred Shares for gross proceeds of US$400 million. The Series 1 Preferred Shares will begin trading on the Toronto Stock Exchange (TSX) today under the symbol ENB.PR.V. The proceeds will be used for capital expenditures, to repay indebtedness and for other general corporate purposes.This news release does not constitute an offer to sell or a solicitation of an offer to buy the preferred shares in any jurisdiction. The preferred shares offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Enbridge Inc.Enbridge Inc. is a North American leader in delivering energy and one of the Global 100 Most Sustainable Corporations. As a transporter of energy, Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids transportation system. The Company also has a significant and growing involvement in natural gas gathering, transmission and midstream businesses, and an increasing involvement in power transmission. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State. As a generator of energy, Enbridge has interests in close to 1,000 megawatts of renewable and alternative energy generating capacity and is expanding its interests in wind and solar energy, geothermal and hybrid fuel cells. Enbridge employs 10,000 people, primarily in Canada and the U.S. and is ranked as one of Canada's Greenest Employers, and one of the Top 100 Companies to Work for in Canada. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com. Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Enbridge believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, weather, economic conditions and commodity prices. You can find a discussion of those risks and uncertainties in our Canadian securities filings and American SEC filings. While Enbridge makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Except as may be required by applicable securities laws, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Enbridge Inc.Jennifer VareyMedia(403) 508-6563 or Toll Free: (888) 992-0997jennifer.varey@enbridge.comEnbridge Inc.Jody BalkoInvestment Community(403) 231-5720jody.balko@enbridge.com