TransAlta declares dividend

CALGARY, ALBERTA, Jul 23 (MARKET WIRE) --
TransAlta Corporation (TSX: TA) (NYSE: TAC) today declares a dividend of
$0.27 per share on common shares payable Oct. 1, 2008 to shareholders of
record at the close of business Sept. 1, 2008.

All currency is expressed in Canadian dollars except where noted.

TransAlta is a power generation and wholesale marketing company focused
on creating long-term shareholder value. We maintain a low-risk profile
by operating a highly contracted portfolio of assets in Canada, the
United States, Mexico and Australia. Our focus is to efficiently operate
our coal-fired, gas-fired, hydro and renewable facilities in order to
provide our customers with a reliable, low-cost source of power. For
nearly 100 years, we've been a responsible operator and a proud
contributor to the communities where we work and live.

Contacts:
TransAlta Corporation - Media inquiries
Michael Lawrence
Senior Advisor, Media Relations
Phone: (403) 267-7330
Email: michael_lawrence@transalta.com

TransAlta Corporation - Investor inquiries
Jess Nieukerk
Manager, Investor Relations
Phone: (403) 267-3607 or 1-800-387-3598 in Canada and U.S.
Email: investor_relations@transalta.com
Website: www.transalta.com

Copyright 2008, Market Wire, All rights reserved.

-0-