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Luminus Management, LLC and LS Power (collectively “Luminus Group”) own nearly 8% of TransAlta Corporation’s (TSX: TA) (NYSE: TAC) and as the Company’s largest stockholder, we believe our interests are closely aligned with all other TransAlta shareholders.

Luminus Group has significant concerns about the business and affairs of TransAlta. Specifically, Luminus Group believes that the Company continues to employ a financing strategy that is reminiscent of the vertically-integrated regulated utility it once was, and that the Company has not taken full advantage of its unique value creation opportunities. In recent years, TransAlta initiated an aggressive expansion strategy, exercised minimal capital discipline and amassed an unwieldy portfolio of assets to meet self-imposed generation capacity growth targets. As a result, Luminus Group believes that the public market does not recognize the inherent value of TransAlta’s assets.

In its White Paper, “An Operator’s Guide to Unlocking Value at TransAlta,” Luminus Group provides a detailed plan for the Company to realize its full potential and to create meaningful, long-term value for all TransAlta shareholders. The White Paper and other materials are available at this website.

 

 

 


Website Disclaimer

This website includes, refers to or incorporates by reference certain statements that are "forward-looking statements". All statements, other than statements of historical fact, in this website that address activities, events or developments, proposed acquisitions, dispositions and financings that may occur in the future, including TransAlta's future growth, results of operations, performance and business prospects and opportunities, and the assumptions underlying any of the foregoing, are forward-looking statements.These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "believe", "project", "should", or "continue" or the negative thereof or similar variations. Forward-looking statements are based upon a number of assumptions and are subject to a number of known and unknown risks and uncertainties, many of which are beyond the Luminus Group's control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. These risks and uncertainties include, among other things, risks related to: business risks; cost of fuels to produce electricity, legislative or regulatorydevelopments, competition, global capital markets activity, changes in prevailing interest rates, currency exchange rates, inflation levels, plant availability, and general economic conditions. There can be no assurance that the expectations of the Luminus Group will prove to be correct.

Although the forward-looking statements contained in this website are based upon what the Luminus Group believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements.

All forward-looking statements in this website speak as of January 16, 2008. The Luminus Group shall have no duty and does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise.

The information concerning TransAlta contained in this website has been taken from or is based upon publicly available documents or records on file with Canadian securities regulatory authorities and other public sources.

This website does not constitute a solicitation of a proxy, consent or authorization for or with respect to any meeting of, or action by vote, written consent or otherwise by, TransAlta's shareholders. Any such solicitation, if made, will be made only in compliance with applicable law.

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