KeySpan Facilities Income Fund Announces Closing of Over- Allotment Option

Calgary, June 10, 2003 KeySpan Facilities Income Fund ("the Fund") (TSX:KEY.UN)

announced today the closing of the recently announced over-allotment portion of its offering of

trust units.

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

John Cobb, Director, Investor Relations, E-mail: [email protected]

Telephone (403) 205-7670 Toll Free: (888) 699-4853 Facsimile: (403)

205-8303