LISTED FOR TRADING IN UNITED STATES FUNDS ON THE TORONTO STOCK
EXCHANGE/TRADING SYMBOL: CUP.U
GRAND CAYMAN, Cayman Islands, Aug. 21 /CNW/ - Caribbean Utilities Company, Ltd. ("CUC" or "the Company") confirmed today that it was not materially impacted by Hurricane Dean ("Dean"), a major category four hurricane that brushed Grand Cayman on Monday, August 20, 2007. Dean's closest point of approach was approximately 104 miles south of Grand Cayman between 7 am and 8 am Cayman time, resulting in tropical storm-force winds and minimal storm surge along the eastern, western and southern coasts.
Richard Hew, CUC President and Chief Executive Officer, noted that the Company experienced minor wind damage that resulted in sporadic power outages during the storm. "Eleven of our 23 circuits lost power during Dean affecting a total of 13,200 of our 23,000 customers," said Mr. Hew. "Restoration of service commenced as soon as the winds abated to a level that line crews could work safely, and power was restored to all areas by late Monday evening. Otherwise, I am happy to report that our generating and transmission and distribution systems were unaffected by Dean."
CUC is the sole provider of electricity to Grand Cayman, Cayman Islands and operates under a 25-year exclusive Licence renewable in 2011 with the Government of the Cayman Islands.
Caribbean Utilities Company, Ltd., on occasion, may include forward-looking statements in its media releases, Canadian securities regulatory authorities filings, shareholder reports and other communications. Forward-looking statements are based on certain assumptions by their very nature and are subject to certain risks and uncertainties that may cause actual results to vary from plans, objectives and estimates. Such risks and uncertainties include but are not limited to general economic, market and business conditions, regulatory developments and weather. Caribbean Utilities Company, Ltd. cautions readers that actual results may vary significantly from those expected should certain risks or uncertainties materialize or should underlying assumptions prove incorrect.
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