EnCana to redeem 8.50% Preferred Securities

Calgary, Alberta (July 7, 2004) - EnCana Corporation (ECA: TSX, NYSE) today announced that it intends to redeem on August 9, 2004 all of its 8.50% Unsecured Junior Subordinated Debentures due September 30, 2048 (the "8.50% Preferred Securities"), which have an aggregate principal amount of C$200,000,000. The redemption price of the 8.50% Preferred Securities is the principal amount thereof plus accrued and unpaid interest.

The 8.50% Preferred Securities (CUSIP number 012873 70 9) are held in book-entry form only. The redemption price will be credited to the accounts of beneficial holders of 8.50% Preferred Securities through their individual brokers. Beneficial holders may contact their individual brokers for additional information about payments.

For further information:

EnCana Corporate Development
Investor contact:
Susan Grey
Analyst, Investor Relations
403-645-4751

Media contact:
Alan Boras
Manager, Media Relations
403-645-4747
investor.relations@encana.com
403-645-3550