The supplement sets out the tolling principles and risk and return parameters agreed to with shippers and is accompanied by a letter of support from the Canadian Association of Petroleum Producers. Enbridge's affiliate, Enbridge Energy Partners, L.P. plans to file a similar set of toll principles with the Federal Energy Regulatory Commission (FERC) for the US $1.0 billion U.S. section of the project in 2008 (2007 dollars, excluding AFUDC). The project remains subject to regulatory approvals and receipt of various permits in Canada and the United States.

The key terms of the Canadian tolling principles include a 45-percent equity, 55-percent debt capital structure with a floating return on equity equal to the NEB's multi-pipeline rate plus 2.25 percent. EPI will share in the risk of capital cost overruns and share the benefits of capital cost savings by having a portion of any such variances excluded or included as applicable from the deemed rate base of the project. Further details of the tolling principles can be found in the supplement filed with the NEB and available on the NEB's website at www.neb-one.gc.ca.

The U.S. tolling principles include a 55 percent equity and 45 percent debt capital structure, but are otherwise similar to the Canadian tolling principles. Specifically, the U.S. tolls will include an allowance for income tax as permitted under FERC regulation over the term of the commercial agreement.

Alberta Clipper involves the construction of a new 36-inch diameter 1,607-kilometer (1,000-mile) crude oil pipeline from Hardisty, Alberta, to Superior, Wisconsin, generally within or adjacent to Enbridge's existing right-of-way. Alberta Clipper will have an initial capacity of 450,000 barrels per day (bpd) and allows for expansions to increase capacity up to 800,000 bpd. Pending regulatory approval, Enbridge anticipates bringing Alberta Clipper into service in mid-2010. Alberta Clipper will be integrated with, and form part of, the existing Enbridge system in Canada and the EEP Lakehead system in the U.S.

Enbridge Inc., a Canadian company, is a leader in energy transportation and distribution in North America and internationally. As a transporter of energy, Enbridge operates, in Canada and the United States, the world's longest crude oil and liquids pipeline system. The Company also has international operations and a growing involvement in the natural gas transmission and midstream businesses. 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. Enbridge employs approximately 5,000 people, primarily in Canada, the United States and South America.