EnCana Recommends Rejection of Mini-tender Offer

EnCana Corporation has received a copy of an unsolicited mini-tender offer made by TRC Capital Corporation (TRC Capital), pursuant to which TRC Capital has offered to purchase up to 2,000,000, or approximately 0.25 percent, of the outstanding common shares of EnCana. The offer price of C$54.50 per common share represents a 3.96 percent discount to the C$56.75 closing price for EnCana's common shares on the Toronto Stock Exchange on January 31, 2006, the day before the offer was made.

EnCana has recommended that its shareholders reject this unsolicited offer. EnCana wishes to inform its shareholders that it is not associated with TRC Capital, the offer or the offer documentation. TRC Capital's unsolicited offer is not related to EnCana's previously announced normal course issuer bid for the purchase, from time to time, of up to 85,603,640 of its common shares on the facilities of the Toronto Stock Exchange and the New York Stock Exchange.

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Posted 09/02/06

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