Spectra Energy Partners Announces 23rd Consecutive Quarterly Cash Distribution Increase

Spectra Energy Partners Announces 23rd Consecutive Quarterly Cash Distribution

-- Quarterly distribution increase of three-quarters of a cent to $0.50875 per

PR Newswire

HOUSTON, July 24, 2013

HOUSTON, July 24, 2013 /PRNewswire/ -- Spectra Energy Partners, LP (NYSE: SEP)
announced that the board of directors of its general partner declared a
quarterly cash distribution to unitholders of $0.50875 per unit, an increase
of three-quarters cent over the previous level of $0.50125 per unit. This is
the 23^rd consecutive quarter that Spectra Energy Partners has increased its
quarterly cash distribution. The cash distribution is payable on August 14,
2013, to unitholders of record at the close of business on August 5, 2013.
This quarterly cash distribution equates to $2.035 per unit on an annual

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"Spectra Energy Partners is committed to delivering value to our unitholders.
And with the drop-down of 50 percent of the Express-Platte Pipeline System
anticipated to close soon, we are pleased to deliver this 23^rd consecutive
quarterly distribution increase to our unitholders," said Julie Dill,
president and chief executive officer.

This release is intended to be a qualified notice to nominees and brokers as
provided for under Treasury Regulation Section 1.1446-4(b). Please note that
100 percent of Spectra Energy Partners' distributions to foreign investors are
attributable to income that is effectively connected with a U.S. trade or
business. Accordingly, Spectra Energy Partners' distributions to foreign
investors are subject to federal income tax withholding at the highest
effective tax rate.

Forward-Looking Statements

This release includes "forward-looking statements" within the meaning of
Section27A of the Securities Act of 1933 and Section21E of the Securities
Exchange Act of 1934. Forward-looking statements are based on our beliefs and
assumptions. These forward-looking statements are identified by terms and
phrases such as: anticipate, believe, intend, estimate, expect, continue,
should, could, may, plan, project, predict, will, potential, forecast, and
similar expressions. Forward-looking statements involve risks and
uncertainties that may cause actual results to be materially different from
the results predicted. Factors that could cause actual results to differ
materially from those indicated in any forward-looking statement include, but
are not limited to: the timing and success of the completion of the expected
drop-down; state and federal legislative and regulatory initiatives that
affect cost and investment recovery, have an effect on rate structure, and
affect the speed at and degree to which competition enters the natural gas
industries; outcomes of litigation and regulatory investigations, proceedings
or inquiries; weather and other natural phenomena, including the economic,
operational and other effects of hurricanes and storms; the timing and extent
of changes in interest rates; general economic conditions, including the risk
of a prolonged economic slowdown or decline, or the risk of delay in a
recovery, which can affect the long-term demand for natural gas and related
services; potential effects arising from terrorist attacks and any
consequential or other hostilities; changes in environmental, safety and other
laws and regulations; results and costs of financing efforts, including the
ability to obtain financing on favorable terms, which can be affected by
various factors, including credit ratings and general market and economic
conditions; increases in the cost of goods and services required to complete
capital projects; growth in opportunities, including the timing and success of
efforts to develop domestic pipeline, storage, gathering and other
infrastructure projects and the effects of competition; the performance of
natural gas transmission, storage and gathering facilities; the extent of
success in connecting natural gas supplies to transmission and gathering
systems and in connecting to expanding gas markets; the effect of accounting
pronouncements issued periodically by accounting standard-setting bodies;
conditions of the capital markets during the periods covered by the
forward-looking statements; and the ability to successfully complete merger,
acquisition or divestiture plans; regulatory or other limitations imposed as a
result of a merger, acquisition or divestiture; and the success of the
business following a merger, acquisition or divestiture. These factors, as
well as additional factors that could affect our forward-looking statements,
are described in our filings that we make with the SEC, which are available
via 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. All forward-looking statements in this release are made as of
the date hereof and we undertake no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.

Spectra Energy Partners, LP (NYSE: SEP) is a Houston-based master limited
partnership, formed by Spectra Energy Corp (NYSE: SE), that owns interests in
natural gas transportation and storage assets in the United States, including
more than 3,500 miles of transmission and gathering pipelines and
approximately 57 billion cubic feet (Bcf) of natural gas storage. These assets
are capable of transporting 4.5 Bcf of natural gas per day from growing supply
areas to high-demand markets.

SOURCE Spectra Energy Partners, LP

Website: http://www.spectraenergy.com
Contact: Media & Analysts: Derick Smith, (713) 627-4963
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