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WEI West Isle Energy

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Share Name Share Symbol Market Type
West Isle Energy TSXV:WEI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Spectra Energy Income Fund Unitholders Vote in Favour of Proposed Special Resolution to Approve Going Private Transaction

24/04/2008 10:10pm

Marketwired Canada


Spectra Energy Income Fund (TSX:SP.UN) (the "Fund") today announced that the
Fund's unitholders have voted in favour of a proposed special resolution to
approve the proposed acquisition of all the outstanding units of the Fund by
Westcoast Energy Inc. ("WEI"), a wholly-owned subsidiary of Spectra Energy Corp.
At a special meeting of the Fund's unitholders held earlier today, the proposed
acquisition was approved by more than two-thirds of the votes cast by the Fund's
unitholders of record on March 17, 2008, as required by the Fund's Trust
Indenture, and by more than a majority of the votes cast by the Fund's
unitholders (other than WEI and its related parties), as required under
applicable securities laws. 


The transaction is expected to close on May 1, 2008.

Forward-Looking Statements:

This news release includes statements that do not directly or exclusively relate
to historical facts, referred to as "forward-looking statements." You can
typically identify forward-looking statements by the use of forward-looking
words, such as "may", "will", "could", "should", "project", "believe",
"anticipate", "expect", "estimate", "continue", "potential", "plan", "forecast"
and other similar words. The forward-looking statements reflect management's
current intentions, plans, expectations, beliefs and assumptions about future
events, including the outlook for general economic trends, industry trends,
commodity prices, capital markets, and the governmental, legal and regulatory
environment. Forward-looking statements relate to, among other things,
anticipated financial performance, business prospects, strategies, regulatory
developments, new services, market forces, commitments and technological
developments. Forward-looking statements also relate to the proposed transaction
described in this news release, including the terms and conditions of that
transaction and the anticipated timing for closing. These statements are subject
to various known and unknown risks and uncertainties that are outside our
control and could cause actual results to differ materially from the results
expressed or implied by the forward-looking statements. Those risks and
uncertainties include market and general economic conditions, future costs,
treatment under government regulatory, tax and environmental regimes and the
other material risks discussed in the Fund's Annual Information Form dated March
10, 2008, under "Risk Factors" and in the management's discussion and analysis
of the Fund and Spectra Energy Facilities LP under the headings "Risk Profile"
contained in the Fund's Annual Report for the year ended December 31, 2007.
Risks and uncertainties relating to the proposed transaction include risks that
the parties will not proceed with the transaction or that the transaction will
not be completed for any reason. Undue reliance should not be placed on this
forward-looking information, which is given as of the date of this release, and
the Fund undertakes no obligation to update publicly or revise any
forward-looking information, whether as a result of new information, future
events or otherwise.


About Spectra Energy Income Fund

Spectra Energy Income Fund is an unincorporated open-ended trust established
under the laws of the Province of Alberta and owns a 53.8 percent indirect
interest in Spectra Energy Facilities LP ("SEF LP") which owns 100 per cent of
Spectra Energy Midstream Corporation ("Spectra Midstream"). Spectra Energy
indirectly owns the remaining 46.2 percent interest of SEF LP and is the sponsor
of the Fund. Spectra Midstream is one of the largest independent midstream
operations in the Western Canadian Sedimentary Basin ("WCSB") with interests in
thirteen natural gas processing plants with a net processing capacity of 924
mmcf/d and over 1,600 kilometres of natural gas gathering pipelines located
throughout natural gas prone areas in the western extent of the WCSB. More
information on Spectra Energy Income Fund can be found at:
http://www.spectraenergyfund.com.


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