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KeySpan Facilities Income Fund Announces July 2004 Distribution

Jul 21, 2004

Calgary, July 21, 2004 KeySpan Facilities Income Fund (TSX:KEY.UN) announced today a cash distribution for July, 2004 of 9.8 cents per unit. The distribution will be payable on August 16, 2004 to Unitholders of record on July 30, 2004. The ex-distribution date is July 28, 2004.

This distribution payment will be fully tax deferred by the way of a return of capital and no Canadian withholding tax will be applicable.

For further information about KeySpan Facilities Income Fund, please visit our website at www.keyspancanada.com or contact:

John Cobb, Director, Investor Relations, E-mail: John_Cobb@keyspancanada.com Telephone (403) 205-7670 Toll Free: (888) 699-4853 Facsimile: (403) 205-8303