AltaGas Ltd. Announces Intention to Exercise Right to Redeem Its 4.10% Medium Term Notes, Series 5 Due March 24, 2016

November 05, 2014

CALGARY, ALBERTA--(Marketwired - Nov. 5, 2014) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today its intention to exercise its right to redeem the entire C$200,000,000 principal amount of its 4.10% medium term notes, Series 5, due March 24, 2016 (the "Notes") on or after December 8, 2014 (any such day being the "Redemption Date").

The redemption price for the Notes will be determined in accordance with the provisions of the amended and restated trust indenture dated July 1, 2010 and the sixth supplemental indenture dated March 24, 2011 governing the Notes (collectively, the "Indenture") and will include accrued and unpaid interest on the Notes up to, but not including, the Redemption Date.

AltaGas will only become obligated to complete the redemption once it gives notice of redemption in accordance with the Indenture. The notice of redemption must be given not less than 30 nor more than 60 days prior to the Redemption Date. AltaGas will make a further announcement when the notice of redemption is to be delivered to CDS Clearing and Depository Services Inc. and the trustee, Computershare Trust Company of Canada, in respect of the redemption of the Notes.

AltaGas is an energy infrastructure business with a focus on natural gas, power and regulated utilities. AltaGas creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit:

This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the intention to exercise the right to redeem the Notes and the Redemption Date therefor, business objectives, expected growth and business projects and opportunities. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect AltaGas' current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in AltaGas' public disclosure documents. Many factors could cause AltaGas' actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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