February 14, 2005

Algonquin Power working to resolve charges relating to Riverbend plant spill

OAKVILLE, ONT-Algonquin Power Income Fund (Algonquin) recently reported that it is in negotiations with the Office of the United States Attorney in New Hampshire to resolve potential criminal charges for the release of hydraulic fluid into the Winnipesaukee River at its Franklin, New Hampshire Riverbend plant, and for improper reporting of the release. Riverbend is one of 47 hydroelectric facilities owned or operated by Algonquin in the U.S. and Canada. No environmental harm resulted from the loss of hydraulic oil, which appears to have resulted from a defective seal within the turbine assembly. Algonquin has co-operated with the investigation, and has taken a number of steps to minimize the potential for such releases in the future, including extensive repairs to the Riverbend turbine, increased training for local plant personnel at all hydroelectric facilities, and the strengthening of corporate level oversight of environmental compliance at all of its operations. In addition to its hydroelectric facilities, Oakville-based Algonquin owns or has interests in five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and six water reclamation and distribution facilities. More information is available from David Kerr or Chris Jarratt at Algonquin Power Income Fund, 905/465-4500, E-mail APIF@algonquinpower.com.

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