Calgary, AB, 2007 August 27 — Energy Alberta Corporation (Energy Alberta) is pleased to announce that it has filed an Application for a License to Prepare Site with the Canadian Nuclear Safety Commission (CNSC).

“This is an historic moment for Canada, for Alberta and for the Nuclear power industry”, says Wayne Henuset, President and Co-Chairman of Energy Alberta Corporation. “We are proud to be pioneers in bringing the benefits of clean, safe, reliable nuclear power to Alberta.”

Energy Alberta has teamed with Atomic Energy of Canada Limited (AECL) to bring proven CANDU^® nuclear technology to Alberta. The application is for siting up to two twin-unit ACR-1000^® Advanced CANDU Reactors^®. Energy Alberta will initially build one twin-unit ACR-1000 that will ultimately produce a total net 2,200 MW of electricity with a targeted in-service date of early 2017.

“This filing, the License to Prepare Site, is the first of many steps in getting licenses to build the plant”, said Mr. Henuset. “Building a nuclear power facility is a long and rigorous process. This is the beginning of a public and regulatory process that will include environmental, health and safety assessments. Public consultations will be an essential component of the process.”

The site that has been chosen is on private land adjacent to Lac Cardinal, approximately 30 km west of the town of Peace River, Alberta. This location was chosen after months of engaging the community.

Energy Alberta has chosen the Peace River region as its preferred site because of the demonstrated support from the community, existence of essential infrastructure and support services, and technical feasibility.

Mr. Henuset added, “We must also congratulate all of the municipalities from the regions of Whitecourt and Peace River for their outstanding display of leadership throughout this period. Everyone should be very proud of how their elected officials have represented them over the last several months.”

“On behalf of the Town of Peace River and all of our municipal neighbours, we welcome Energy Alberta to our community,” stated Lorne Mann, Mayor of the Town of Peace River. “We understand that this is just the beginning of a lengthy process and we welcome the chance to become more informed on nuclear energy. With today’s announcement, Wayne Henuset, Hank Swartout and the rest of the Energy Alberta team have given our region an opportunity for a more vibrant, exciting and sustainable future.”

The ACR-1000 is a Generation III+, 1200 MWe class nuclear power plant built on the pedigree and proven success of AECL’s CANDU nuclear technology. The ACR-1000 incorporates 80 per cent of the technical specification from the proven CANDU 6 design such as a modular, horizontal fuel channel core, a low-temperature heavy-water moderator, waterfilled vault, two independent diverse shutdown systems, on-power fuelling and a reactor building accessible for on-power maintenance.

AECL’s Chief Operating Officer Ken Petrunik, commented, “We are very pleased to be partnering with Energy Alberta to bring the ACR-1000 to Western Canada. The ACR-1000 is a made-in-Canada solution that we believe is the best choice for Alberta in terms of safety, proven performance and project delivery.”

Energy Alberta understands that the project to build new reactors will be subject to review under the Canadian Environmental Assessment Act and it welcomes a thorough environmental assessment. Energy Alberta also acknowledges and appreciates the efforts of the CNSC in clarifying requirements.

About Energy Alberta

Energy Alberta is a privately held entity, incorporated in Calgary in October 2005. Itsprincipals are Wayne H. Henuset and Hank B. Swartout.

Energy Alberta’s mission is to become a responsible provider of safe, reliable, cost-competitive, low-emission electricity to the Alberta power grid and oil sands developments using nuclear technology. Energy Alberta believes that nuclear power can effectively supplement current fossil fuel power generation while offsetting greenhouse gas emissions.

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Note to Editors:

There will be press conferences held in Calgary, Peace River and Whitecourt on Tuesday, August 28th. Details are as follows:

For information about times and locations, please contact:

Guy Huntingford
Telephone: (403) 451-4479
guyh@energyab.com