PrintNews Release
April 21, 2008
Spectra Energy Income Fund Going Private Transaction Update
HOUSTON – Spectra Energy (NYSE: SE) today announced that it has learned that the special meeting of the unitholders of Spectra Energy Income Fund (the “Fund”) that began earlier today in connection with the proposed acquisition of all of the outstanding units of Spectra Energy Income Fund (TSX:SP.UN) by Westcoast Energy Inc., a wholly-owned subsidiary of Spectra Energy has been adjourned. The reconvened meeting will take place 2:30 p.m. (Calgary time) on Thursday, April 24, 2008 at Suite 2600, 425 1st Street SW, Fifth Avenue Place, East Tower, Calgary, Alberta.
Spectra Energy also announced today that it has no intention to propose or make any change to the CDN $11.25 per unit cash purchase previously announced by Spectra Energy and the Fund and included in the agreement between Spectra Energy and the Fund.
Unitholders are encouraged to review the Notice of Special Meeting of the Unitholders and Information Circular issued by the Fund on March 19, 2008 and which is available on SEDAR at www.sedar.com. Questions regarding any voting procedures can be directed to Laurel Hill Advisory Group at (800) 611-1685.
Spectra Energy Corp (NYSE: SE) 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 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 18,000 miles of transmission pipeline, 265 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.
Forward-Looking Statements:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent our intentions, plans, expectations, assumptions and beliefs about future events. This release includes forward-looking statements concerning the outcome of pending transactions and the impact from such transactions on our results of operations. Such statements are subject to risks, uncertainties and other factors, many of which are outside our control and could cause actual results to differ materially from the results expressed or implied by those forward-looking statements, including the timing and receipt of required unitholder and regulatory approvals. Other factors that could affect our forward-looking statements, are described in our Form 10-K, filed with the Securities and Exchange Commission, and other filings that we make with the SEC, which are available at the SEC’s website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than we have described. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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John Arensdorf
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