Husky Energy's Q2 Dividend Up 25% from CA$0.40 to CA$0.50

Husky Energy Inc. announced that the Board of Directors has approved a 25% increase in the Company's quarterly dividend to CA$0.50 from CA$0.40 per share on its common shares for the three-month period ended June 30, 2008. The dividend will be payable on October 1, 2008 to shareholders of record at the close of business on August 22, 2008.

The increase in the dividend payment reaffirms the Board's confidence in the Company's business strategy in value creation allowing its shareholders to benefit from the strength of the Company's financial performance in this high commodity price environment.