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Westcoast Energy Declares Dividends

March 18, 2009

VANCOUVER, British Columbia – On March 18, 2009, Westcoast Energy Inc. (“Westcoast”) declared the following quarterly dividends:

  1. 5.50% CUMULATIVE FIRST PREFERRED SHARES, SERIES 7: A dividend of 34.375 cents per share payable on April 15, 2009 to shareholders of record at the close of business on April 1, 2009.
  2. 5.60% CUMULATIVE FIRST PREFERRED SHARES, SERIES 8: A dividend of 35.00 cents per share payable on April 15, 2009 to shareholders of record at the close of business on April 1, 2009.

All dividends paid or deemed paid for Canadian federal, provincial or territorial income tax purposes by Westcoast including the dividends above are designated eligible dividends pursuant to Subsection 89(14) of the Income Tax Act (Canada) or similar provincial or territorial legislation. This designation will apply to all such dividends paid or deemed paid in the future unless otherwise notified by Westcoast. An eligible dividend received by a Canadian resident individual shareholder is entitled to the enhanced dividend tax credit.

Westcoast is an indirect subsidiary of Spectra Energy Corp.

Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North America’s premier natural gas infrastructure companies serving three key links in the natural gas value chain: gathering and processing, transmission and storage, and distribution. For nearly a century, Spectra Energy and its predecessor companies have developed critically important pipelines and related infrastructure connecting natural gas supply sources to premium markets. Based in Houston, Texas, the company operates in the United States and Canada approximately 18,300 miles of transmission pipeline, 270 billion cubic feet of storage, natural gas gathering and processing, natural gas liquids operations and local distribution assets. Spectra Energy Corp also has a 50 percent ownership in DCP Midstream, one of the largest natural gas gatherers and processors in the United States. For more information, visit www.spectraenergy.com

Rosemary Silva
(604) 488-8147
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