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Westcoast Energy and Union Gas Declare Dividends

March 5, 2007

VANCOUVER, BRITISH COLUMBIA – On March 5, 2007, Westcoast Energy Inc. 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, 2007 to shareholders of record at the close of business on April 1, 2007.
2. 5.60% CUMULATIVE FIRST PREFERRED SHARES, SERIES 8:  A dividend of 35.00 cents per share payable on April 15, 2007 to shareholders of record at the close of business on April 1, 2007.

Also on March 5, 2007, Union Gas Limited declared the following quarterly dividends:

1. 5½% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES A:  A quarterly dividend of 69 cents per share payable on March 31, 2007 to shareholders of record at the close of business on March 15, 2007.
2. 6% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES B:  A quarterly dividend of 75 cents per share payable on March 31, 2007 to shareholders of record at the close of business on March 15, 2007.
3. 5% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES C:  A quarterly dividend of 62.5 cents per share payable on March 31, 2007 to shareholders of record at the close of business on March 15, 2007.
4. CUMULATIVE REDEEMABLE CONVERTIBLE CLASS B PREFERENCE SHARES, SERIES 11:  A quarterly dividend of 29.9375 cents per share payable on March 31, 2007 to shareholders of record at the close of business on February 28, 2007.

Westcoast Energy Inc. and Union Gas Limited are indirect subsidiaries of Spectra Energy Corporation.  Spectra Energy Corp (NYSE: SE) is one of North America’s premier pure play natural gas midstream companies serving three key links in the natural gas value chain:  gathering and processing, transmission and storage and distribution. For close to a century, Spectra Energy and its predecessor companies have developed critically important pipelines and related energy infrastructure connecting natural gas supply sources to premium markets. Based in Houston, Texas, the company operates in the United States and Canada approximately 17,500 miles of transmission pipeline, 250 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. Visit www.spectraenergy.com for more information.