Gaz Métro inc. files a preliminary base shelf prospectus

Gaz Métro inc. files a preliminary base shelf prospectus

Friday, August 8th 2008

Gaz Métro inc. (“GMi”) announced the filing with Canadian securities regulators of a preliminary short form base shelf prospectus (the “Base Shelf Prospectus”) relating to $400,000,000 aggregate principal amount of Series L First Mortgage Bonds (the “Series L Bonds”) guaranteed by Gaz Métro Limited Partnership (“Gaz Métro”) which may be issued from time to time by GMi during the 25-month period that this Base Shelf Prospectus remains valid. Standard & Poor’s Rating Services and DBRS Limited have each assigned an A rating to the Series L Bonds.

Gross proceeds from any proposed issue of Series L Bonds to be made pursuant to this Base Shelf Prospectus will be loaned to Gaz Métro on substantially similar terms as to interest rates and maturity dates as the Series L Bonds. Unless otherwise specified in a prospectus supplement, these proceeds will be added to Gaz Métro’s general funds and will be used for general corporate purposes.

Gaz Métro Overview

With more than $3.3 billion of assets and approximately 1,300 employees in Quebec, Gaz Métro is a leading Quebec energy company and one of Canada’s largest natural gas distributors. Gaz Métro serves some 171,000 customers in Quebec through an underground pipeline network of almost 10,000 km.

Through its wholly-owned subsidiary, Northern New England Energy Corporation (NNEEC), Gaz Métro has been active in New England’s energy industry since 1986 and has about 300 employees there. NNEEC includes Vermont Gas Systems, the sole natural gas distributor in Vermont, and Green Mountain Power Corporation, the second largest electricity distributor in that State.

Through subsidiaries or in partnership with other investors, Gaz Métro is active in natural gas transportation and storage as well as energy services and water and waste water systems and fibre optic networks. Gaz Métro also participates in various development projects in the energy sector.

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