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Apr 30, 2004

Letter from a CEO

Pat Daniel, Enbridge

Dear readers,Enbridge has enjoyed success in attracting long-term investors - and we are looking for more. We tend to find them one at a time, which isn't easy, because Enbridge has a couple of unique investor relations challenges.Our primary IR challenge is aligning our company's timeline with investor horizons. This is particularly important at Enbridge because we are classic long-term investors ourselves. We have to be - we're an energy delivery company. Our business requires large capital investment

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