AltaGas Income Trust announces monthly distribution

July 14, 2004

CALGARY--(CCNMatthews - July 14) - AltaGas Income Trust (AltaGas or the 
Trust) (TSE:ALA.UN) announced today that a monthly distribution will be paid 
on August 16, 2004 to holders of record on July 26, 2004, of Trust Units and 
limited partnership units that are exchangeable into Trust Units 
(Exchangeable Units). The amount of the distribution will be $0.15 for each 
Trust Unit and each Exchangeable Unit.

On May 20, 2004 AltaGas adopted Premium Distribution(TM), Distribution 
Reinvestment and Optional Unit Purchase Plans (the Plans) for eligible 
holders of Trust Units and Exchangeable Units (collectively Unitholders) of 
AltaGas Income Trust, AltaGas Holding Limited Partnership No. 1 and AltaGas 
Holding Limited Partnership No. 2.

To participate in either of the Plans, registered Unitholders must deliver 
the appropriate properly completed and signed authorization forms provided by 
AltaGas for such purpose to Computershare Trust Company of Canada no later 
than 3:00 p.m. (Calgary time) on the business day immediately preceding a 
distribution record date in order for the cash distribution or cash payment 
to which such record date relates to be reinvested or invested, as the case 
may be, under the applicable Plan. Beneficial owners of Trust Units or 
Exchangeable Units (i.e. owners of Trust Units or Exchangeable Units that are 
held through a nominee such as a broker or custodian) who wish to participate 
in the applicable Plan should contact their broker, investment dealer, 
financial institution or other nominee who hold their Trust Units or 
Exchangeable Units to provide instructions regarding their participation in 
the applicable Plan. See additional information on the Plans on AltaGas' 
website at

AltaGas moves energy from its source to the end user, adding value through 
the process. The Trust has consolidated assets totalling almost $950 million 
and a market capitalization of approximately $1 billion. 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.

AltaGas' Trust Units are listed on the Toronto Stock Exchange under the 
symbol ALA.UN. The Trust is included in the S&P/TSX Capped Income Trust Index 
and the S&P/TSX Capped Energy Trust Index.

When used in this news 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