CALGARY, ALBERTA--Not for distribution to U.S. newswire services or for dissemination in the U.S. Enbridge announced today that it has completed a private placementof 500,000 common shares to Noverco Inc. at $46.30 per common share for proceeds of $23.15 million, as announced on September 4,2002. The private placement closed on September 10, 2002. This news release does not constitute an offer to sell or a solicitation of an offer to buy the common shares in any jurisdiction. The common shares offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States of America. Enbridge Inc. is a leader in energy transportation and distribution in North America and internationally. As a transporter of energy, Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids pipeline system. The Company also has international operations and a growing involvement in the natural gas transmission and midstream businesses. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, which provides distribution services in Ontario, Quebec and New York State; and is developing a gas distribution system for the Province of New Brunswick. The Company employs approximately 4,000 people, primarily in Canada, the U.S. and South America. Enbridge's common shares trade on The Toronto Stock Exchange in Canada and on the New York Stock Exchange in the U.S. under the symbol "ENB". Information about Enbridge is available on the Company's web site at www.enbridge.com. When used in this news release, the words "anticipate", "expect", "project", "believe", "estimate", "forecast" and similar expressions are intended to identify forward-looking statements, which include statements relating to pending and proposed projects. Such statements are subject to certain risks, uncertainties and assumptions pertaining to operating performance,regulatory parameters, weather and economic conditions and, in thecase of pending and proposed projects, risks relating to design and construction, regulatory processes, obtaining financing and performance of other parties, including partners, contractors and suppliers.