EnCana's offer for Tom Brown Clears U.S. Waiting Period

EnCana reports that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (HSR Act), expired with respect to the company's tender offer to purchase shares of Tom Brown, Inc. (NYSE: TBI) common stock, for $48.00 per share, net to the seller in cash. With the expiration of the waiting period, all necessary waiting periods under HSR Act have expired. The tender offer continues to be subject to other conditions set forth in the tender offer statement and related offering materials. The tender offer is scheduled to expire at midnight, Eastern Time, on May 18, 2004, unless the tender offer is extended.

As previously announced, the board of directors of Tom Brown has unanimously approved the merger agreement and recommends that Tom Brown shareholders accept the offer and tender their shares. Also previously announced, EnCana has received all necessary approvals under the Competition Act (Canada).

In connection with the tender offer, EnCana has filed a Tender Offer Statement on Schedule TO with the U.S. Securities and Exchange Commission (SEC). Stockholders of Tom Brown are advised to read the Schedule TO (including the offer to purchase, letter of transmittal and related tender offer documents), Tom Brown's solicitation/recommendation statement on Schedule 14D-9, which has also been filed with the SEC, and any other documents related to the tender offer that are filed with the SEC when they become available. The Schedule TO and the solicitation/recommendation statement contain important information and should be read before any decision is made with respect to the tender offer.

The Schedule TO and related offering materials may be obtained without charge, when available at the SEC's website or from Georgeson Shareholder Communications Inc., as Information Agent, by calling toll free (800) 905-7237. Banks and brokers are asked to call (212) 440-9800. This news release is not an offer to purchase, solicitation of an offer to purchase or an offer to sell securities. Such an offer or solicitation is only made pursuant to the Tender Offer Statement filed with the SEC.