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INTERPROVINCIAL TO REORGANIZE

Feb. 3, 1992

Interprovincial Pipe Line Inc. (IPPL), Edmonton, will reorganize to separate its pipeline operations and other interests. One of the operating units will be responsible for the company's main crude oil pipeline from Alberta to Central Canada and the U.S. Midwest. A second will be responsible for a crude line from Norman Wells, N.W.T., a third will handle pipeline interests in the U.S., and a fourth will own IPPL's headquarters office.

Interprovincial Pipe Line Inc. (IPPL), Edmonton, will reorganize to separate its pipeline operations and other interests.

One of the operating units will be responsible for the company's main crude oil pipeline from Alberta to Central Canada and the U.S. Midwest. A second will be responsible for a crude line from Norman Wells, N.W.T., a third will handle pipeline interests in the U.S., and a fourth will own IPPL's headquarters office.

IPPL said the changes will give the company more flexibility in pursuing other investments and make it easier for regulators to set tolls for different parts of its pipeline operation.

Projects under consideration include a refined products pipeline from Quebec City to Montreal and conversion of a mothballed crude oil line from Sarnia, Ont., to Montreal to carry gas.

The reorganization plan will be subject to several approvals.