ENMAX Announces Resignation of Chairman of the Board of Directors

CALGARY Sept 08 -- Today, ENMAX Corporation's chairman, George Cornish, announced his resignation as chairman of the board of directors effective October 15, 2003. Mr. Cornish said he leaves the office with great pride in ENMAX's accomplishments and with deep gratitude for having had the opportunity to serve Calgarians in the provision of reliable electricity supply for more than 45 years.

In announcing his resignation, Mr. Cornish said, "I have had the rare vantage of helping to build Calgary's electric system from the ground up and then stewarding this fine organization into a competitive market place. My decision to leave the chair position after six years reflects a desire to further pursue my retirement, as well as revitalize the leadership of ENMAX's board of directors so the company can continue its strides to future success."

The ENMAX Corporate Governance Committee has commenced a process to select a new chairman. Mr. Cornish has graciously agreed to act as chairman emeritus, supporting the new chairman until the company's 2004 annual meeting, at which time Mr. Cornish will not submit his name for re-election to the board of directors.

ENMAX president and chief executive officer, Robert Nicolay said, "Mr. Cornish's selfless dedication to Canada's electricity industry and the community are exceptional. At ENMAX, we have been fortunate to benefit from his wise leadership and high ethical standards. While we will miss his direct contribution, we know his tireless commitment to community service will continue to provide a beacon for many."

Mr. Cornish began his career as the streetlight engineer in the electric system at The City of Calgary, where he was subsequently employed for 34 years. He became Commissioner of Utilities and Services, Commissioner of Planning and Transportation, and in 1981, Chief Commissioner. He served as international president of the Illuminating Engineering Society of North America and recently received a Distinguished Service Award from the Canadian Electricity Association. While Mr. Cornish retired 15 years ago, he has been active in the community, having served as a director for the Calgary Airport Authority and continuing to chair the board of directors at Alberta Blue Cross. He also has contributed to the University of Calgary's Faculty of Management as executive-in-residence, associate director for International Business and a member of the Management Advisory Council.

ENMAX Corporation, a wholly owned subsidiary of The City of Calgary, provides electricity, natural gas and value-added services to more than 420,000 residential, commercial and industrial customers in Alberta through its subsidiary companies. For more information, please visit our website at enmax.com.

Canada NewsWire