August 31, 2000 The Island Regulatory and Appeals Commission announced today that applications for crude oil cost-related decreases have been approved by the Commission. The changes announced at this time are based on world crude oil prices for the month of July. Wholesalers have been authorized to decrease the prices of all products contained in their dealer and posted consumer schedules as follows: Ultramar Ltd. - 1.6 cpl (cents per litre), Shell Canada Products Limited - 0.7 cpl, Imperial Oil Limited - 1.3 cpl, Irving Oil Limited - 1.3 cpl, Petro-Canada - 1.2 cpl and Co-op Atlantic - 1.4 cpl. Irving Oil Limited received approval to decrease by 0.2 cpl and Superior Propane Inc. received approval to decrease by 0.4 cpl all propane prices contained in their respective schedules based on decreased product acquisition costs. All pricing adjustments become effective at 12:01 a.m. on Friday, 1 September 2000. Allowable pump prices and posted consumer prices of furnace fuel resulting from these approvals will be published shortly. For more information contact H. Doris Pursey at (902) 892-3501. Media Contact: Island Information Service