News Release 30 March 1999

FOR IMMEDIATE RELEASE

EUB PREPARED TO APPROVE SUNCOR MILLENNIUM OIL SANDS MINE APPLICATION

Calgary, Alberta (30 March 1999) The Alberta Energy and Utilities Board (EUB) today issued Decision Report 99-7 which indicated the Board is prepared to approve an application by Suncor Energy Inc. (Suncor), for an expansion to its oil sands facilities. Suncor's proposed development, referred to as Project Millennium, would be located at the site of its existing oil sands operations 35 kilometres north of Fort McMurray. This would increase the production capacity of these facilities to about 12 million cubic metres (75 million barrels) per year of crude oil products by 2002, and provides for the continuation of Suncor's operations until the year 2033.

The Project Millennium application was the subject of an EUB public hearing held in Fort McMurray from 12 to 15 January and in Calgary on 2 February 1999. Having carefully considered all of the evidence the Board is prepared to approve Project Millennium. The Board acknowledges Suncor's concern regarding the need for a prompt decision. Therefore, the final detailed report giving the reasons for the Board's decision and conditions of approval will be issued at a later date.

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This news release and Decision Report 99-7 are available on the EUB Website at http://www.ercb.ca

For more information, please contact:

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