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Press release from CNW Group

Capital Power announces closing of C$150 million offering of 4.60% Cumulative Rate Reset Preferred Shares

Tuesday, December 18, 2012

Capital Power announces closing of C$150 million offering of 4.60% Cumulative Rate Reset Preferred Shares08:28 EST Tuesday, December 18, 2012/NOT FOR DISTRIBUTION INTO THE UNITED STATES OR TO UNITED STATES WIRE SERVICES/EDMONTON, Dec. 18, 2012 /CNW/ -Capital Power Corporation ("Capital Power") (TSX:CPX) is pleased to announce today that it has closed its previously announced offering of 6,000,000 Cumulative Rate Reset Preference Shares, Series 3 (the "Series 3 Shares") at a price of $25 per Series 3 Share for aggregate gross proceeds of $150 million on a bought deal basis with a syndicate of underwriters, led by TD Securities Inc. and BMO Capital Markets.The Series 3 Shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy any security, and shall not constitute an offer, solicitation or sale of the securities in any state in which such offer, solicitation or sale would be unlawful.About Capital PowerCapital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. Capital Power owns more than 3,600 megawatts of power generation capacity at 16 facilities across North America. An additional 595 megawatts of owned generation capacity is under construction or in advanced development in Alberta and Ontario.SOURCE: Capital Power CorporationFor further information: Media Relations: Michael Sheehan (780) 392-5222 Investor Relations: Randy Mah (780) 392-5305 or (866) 896-4636 (toll-free)