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KeySpan Facilities Income Fund – First Quarter Results Conference Call and Webcast

May 3, 2004

Calgary, May 3, 2004 KeySpan Facilities Income Fund (TSX:KEY.UN) announced today that it expects to release its first quarter 2004 report on Tuesday, May 11, 2004. A conference call and webcast have been scheduled for Wednesday, May 12 at 8:00 am MDT (10:00 am Eastern) for interested investors, analysts, brokers and media representatives.

The conference call dial in number is 800-814-4853 or 416-640-4127. A recording of the conference call will be available for replay until midnight, May 19, 2004 by dialing 877-289-8525 or 416-640-1917 and entering passcode 21048106 followed by the pound key.

A live webcast of the conference call can be accessed on KeySpan’s website at www.keyspancanada.com under Investor Information, Webcasts. Shortly after the call, an audio archive will be posted on the website for 90 days.

For further information about KeySpan Facilities Income Fund, please visit our website 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