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6 August 2008 -- TransAlta Corp. said its Board of Directors unanimously concluded that the proposal from LS Power Equity Partners and Global Infrastructure Partners (GIP) regarding a possible acquisition of TransAlta for $39 (Canadian) per share (US$37.21) undervalues the company.

"We respect both LS Power and GIP but their highly-conditional approach fails to recognize TransAlta's fundamental value and growth potential," said Donna Soble Kaufman, Chair of the Board of Directors. "Accordingly, the Board of Directors has determined that accepting their invitation to engage in a dialogue about a possible acquisition of the company is not in the best interests of TransAlta and its shareholders."

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