AltaGas Announces First Monthly Distribution

April 29, 2004

AltaGas Announces First Monthly Distribution

CALGARY--(CCNMatthews - April 29) - AltaGas Services Inc. announced today 
that AltaGas Income Trust will commence monthly distributions on June 15, 
2004 to holders of Trust Units and partnership units that are exchangeable 
into Trust Units (Exchangeable Units) of record on May 25, 2004. The amount 
of the distribution will be $0.15 for each Trust Unit and each Exchangeable 

The commencement of distributions is subject to court approval expected to 
occur on April 30, 2004 to effect the reorganization of the business of 
AltaGas Services Inc. into AltaGas Income Trust. The reorganization is 
pursuant to a Plan of Arrangement expected to be effective May 1, 2004.

Subject to receipt of approvals from the Toronto Stock Exchange (TSX) and the 
fulfillment of certain requirements of that exchange, AltaGas Trust Units 
will trade on the TSX under the symbol of "ALA.UN". It is anticipated that 
trading under the new symbol will begin on or about May 5, 2004. Prior to the 
commencement of trading of the Trust Units, the Common Shares of AltaGas will 
continue to trade on the TSX under the symbol of "ALA." AltaGas Income Trust 
will have approximately 34.1 million Trust Units issued and outstanding. In 
addition, under the Plan of Arrangement there will be approximately 11.8 
million Exchangeable Units that are exchangeable into Trust Units on a one- 
for-one basis. On April 29, 2004, AltaGas Services Inc.'s closing share price 
on the TSX was $21.00 per share.

AltaGas moves energy from its source to the end user, adding value through 
the process. The Trust has over $900 million of assets and a market 
capitalization of over $900 million. Its steadily expanding asset base today 
includes natural gas gathering and processing facilities, interests in ethane 
and natural gas liquids extraction plants, and transmission pipelines. 
AltaGas distributes natural gas to Alberta customers through AltaGas 
Utilities Inc., to customers in the Northwest Territories through the Ikhil 
Gas Project and distributes gas in Nova Scotia through its interest in 
Heritage Gas Limited. The Trust provides energy services to customers, 
including marketing of natural gas and natural gas liquids and sale of power 
from its power purchase based arrangements.

When used in this press release, the words "anticipate," "estimate," and 
similar expressions are intended to identify forward looking statements. Such 
statements are subject to certain risks, uncertainties and assumptions that 
could cause actual results to differ materially from those contemplated in 
the forward looking statements. These risks and uncertainties include 
operating performance, regulatory and environmental issues, weather and 
economic conditions, competition and financing availability. For additional 
information on these and other factors see the reports filed by AltaGas with 
Canadian securities regulators. AltaGas disclaims any intention or obligation 
to update or revise any forward looking information whether as a result of 
new information or future event.


Dennis Dawson
(403) 691-7534


Investment Community:
Marilyn Pfaefflin
(403) 691-7540