TransAlta Completes Notes Offering

TransAlta Corp. sold US$300 million aggregate principal amount of its 5.75 per cent senior notes due in 2013. The deal closed on November 25, 2003. The notes were sold to a syndicate of underwriters, led by Citigroup Global Markets Inc. and Merrill Lynch & Co., Inc. through a prospectus supplement to TransAlta’s previously filed $1 billion shelf registration statement dated May 14, 2002, with the US Securities and Exchange Commission under the multijurisdictional disclosure system.

TransAlta was represented in-house by Alison Love, corporate secretary; and assisted in Canada by McCarthy Tétrault LLP, with a team that included Bruce MacPhail, Michael Bennett and Johanna Price (corporate/commercial) and Ian Bock (tax); and in the US by Latham & Watkins LLP in New York, with a team that included Robert Zuccaro, Gabriel Jacobson and James Van Doren. The underwriters were represented in the US by Shearman & Sterling LLP inToronto, with a team that included Christopher Cummings, Nancy Bertrand, Stephen Luck and Laurence Crouch (tax).