March 28, 2011

Capital Power announces closing of exercise of over-allotment option

New casino sites– Capital Power Corporation (TSX: CPX) (“Capital Power”) announced today that it has closed the issuance of an additional 1,215,000 common shares at a price of $24.90 pursuant to the exercise of the over-allotment option granted to a syndicate of underwriters led by TD Securities Inc. and CIBC World Markets Inc.  The closing of the exercise of the over-allotment options brings the total number of common shares of Capital Power purchased by the underwriters to 9,315,000 for total gross proceeds of approximately $232 million.

With the additional common shares from the exercise of the over-allotment option, Capital Power’s total number of common shares, on a fully diluted basis, is 87,789,852 in which EPCOR Utilities Inc. has a 54.0% indirect ownership.
The common shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy any security, and shall not New online casinosconstitute an offer, solicitation or sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

About Capital Power Corporation
Capital Power is a growth-oriented North American independent power producer, building on more than a century of innovation and reliable performance. The Company’s vision is to be recognized as one of North America’s most respected, reliable and competitive power generators. Headquartered in Edmonton, Alberta, Capital Power has interests in 32 facilities in Canada and the U.S. totaling nearly 3,800 megawatts of generation capacity. Capital Power and its subsidiaries develop, acquire and optimize power generation from a wide range of energy sources. The company’s web site can be accessed at