July 28, 2006 - Edmonton - EPCOR Preferred Equity Inc. (TSX: EPE.PR.A), a subsidiary of EPCOR Utilities Inc., reported net income of $3.1 million for the quarter ended June 30, 2006 and $6.2 million for the six months ended June 30, 2006. EPCOR Preferred Equity Inc. also declared a dividend on preferred shares of $0.34375 per share to be paid on September 29, 2006 to the holders of its Cumulative Redeemable First Preferred Shares, Series I. The record date for the dividend is September 20, 2006.

EPCOR Utilities Inc. (EPCOR) builds, owns and operates power plants, electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Alberta, Ontario/U.S. Northeast, and British Columbia/U.S. Pacific Northwest. EPCOR has been named one of Canada's Top 100 employers for six consecutive years. EPCOR Preferred Equity Inc. and EPCOR are headquartered in Edmonton, Alberta.

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