EnCana Subsidiary Completes US$1 Billion Debt Offering

EnCana Holdings Finance Corp., an indirect wholly owned subsidiary of EnCana Corporation (TSX & NYSE: ECA), has completed a public offering in the United States of US$1 billion of 5.80% Notes due May 1, 2014. The Notes are fully and unconditionally guaranteed by EnCana Corporation. The net proceeds of the offering are expected to be used to pay a portion of the acquisition cost for EnCana's proposed acquisition of Tom Brown, Inc.

These debt securities are rated A- CreditWatch with negative implications by Standard and Poor's Rating Services, Baa1 under review for downgrade by Moody's Investor Service and A (low) with a negative trend by Dominion Bond Rating Service.

The offering was made in the United States under a previously filed shelf registration statement for up to US$2 billion of debt securities. Deutsche Bank Securities and Morgan Stanley acted as joint book-running managers for the offering.
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