Calgary, June 11, 2004 KeySpan Facilities Income Fund ("the Fund") (TSX:KEY.UN) announced today the closing of the over-allotment portion of its recent offering of trust units. The over-allotment consists of an additional 1,398,750 trust units acquired at a purchase price of $10.75 per unit and was exercised by a syndicate of underwriters led by RBC Capital Markets. Total gross proceeds from the over-allotment option will be approximately $15 million. Proceeds will be used to fund a portion of the purchase price of the Fund’s recently announced acquisition of EnerPro Midstream Company.
About KeySpan Facilities Income Fund
Each unit of the Fund represents an indirect ownership interest in the business of KeySpan Energy Canada Partnership (“KeySpan”). KeySpan operates one of the largest natural gas midstream businesses in Canada. Its business consists of natural gas gathering and processing as well as the processing, transportation, storage and marketing of natural gas liquids (NGLs). KeySpan’s 13 gas processing plants and associated facilities are strategically located in the west central and foothills natural gas production areas of the Western Canadian Sedimentary Basin in Alberta. They are pipeline-connected and offer a wide range of flexible services. KeySpan’s NGL infrastructure consists of pipelines, processing and storage in Edmonton and Fort Saskatchewan, Alberta, a major North American NGL hub.
The trust units offered have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable states securities laws. The offer was made in Canada only pursuant to a prospectus.
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
