Standard & Poor's Announces Changes In S&P/TSX Canadian Indices (GICS)

As a result of the annual review of the GICS structure, Standard & Poor's, Canadian Index Services, announces the changes to the structure that affect the S&P Canadian index marketplace. All changes in the GICS structure will be implemented after the close of business, EST, on Friday, April 30, 2004. For a detailed description of the GICS classifications, please refer to the Standard & Poor's web site at www.standardandpoors.com.

Sub-Industry Level
Ticker	Company Name	Current Sub-Industry	New Sub-Industry
TRP	TransCanada Corporation	55102010 - Gas Utilities	10102030 - Oil & Gas Refining, Marketing & Transportation
ENB	Enbridge Inc.	55102010 - Gas Utilities	10102030 - Oil & Gas Refining, Marketing & Transportation

TransCanada Corporation and Enbridge Inc. will be added to the S&P/TSX Capped Energy Index and removed from the S&P/TSX Capped Utilities Index.

In 1999, Standard & Poor's and Morgan Stanley Capital International (MSCI) jointly developed the Global Industry Classification Standard (GICSâ) to establish a common global standard for categorizing companies into sectors and industries, thereby enabling asset owners, asset managers and investment research specialists to make seamless comparisons across indices by industry, by region, and globally.

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