Enbridge Income Fund

Enbridge Income Fund

November 17, 2006 16:15 ET

Enbridge Income Fund Announces Cash Distribution

CALGARY, ALBERTA--(CCNMatthews - Nov. 17, 2006) - Enbridge Income Fund (TSX:ENF.UN) today announced that a monthly cash distribution, in the amount of $0.08 per ordinary unit, will be paid on December 15, 2006, to unitholders of record on November 30, 2006. A cash distribution of $0.08 per unit was also declared on the subordinated units of the Fund and the preferred units of Enbridge Commercial Trust, a subsidiary entity of the Fund.

The distributions reflect the 4.5% increase in unit distributions announced October 30, 2006. The increase, which was declared by the Fund's Board of Trustees in recognition of the steady performance of the Fund's existing pipeline businesses and the additional contribution from its wind power investments acquired October 1, 2006, raised the monthly distribution from $0.0765916 per unit to $0.08 per unit effective with the distribution payable on December 15, 2006.

On October 31, 2006, the Government of Canada announced its Tax Fairness Plan that proposes to change the way income trusts and their investors are taxed in the future. Based on the October 31 announcement, the proposed changes would apply to income trusts that were already publicly traded at the time of the announcement, such as the Fund, beginning with the 2011 taxation year. Although the impact of the proposed tax changes cannot be fully assessed until draft legislation is made public and more information is available, the Fund's management and advisors will continue to review the Plan and evaluate its expected impact on the Fund and on Fund investors. Unitholders can view the full text of the Backgrounder issued by the Government of Canada in conjunction with its announcement of the Tax Fairness Plan at http://www.fin.gc.ca/news06/06-061e.html.

Pursuant to the Fund's Distribution Reinvestment and Unit Purchase Plan (the "Plan"), participants may elect, without brokerage fees, to automatically reinvest monthly distributions in additional units of the Fund, and may make optional cash payments of up to $1,000 per month (subject to a minimum of $100 per month) to purchase additional units of the Fund. Details of the Plan are available on the Fund's website (see below). Investors should contact their respective investment dealer to enroll.

Enbridge Income Fund's ordinary units are listed and trade on the Toronto Stock Exchange under the symbol "ENF.UN".

Enbridge Income Fund is an unincorporated, open-ended trust created to provide a stable and sustainable flow of distributable cash to unitholders. The Fund is a premier income fund in Canada with a low-risk profile focused on energy infrastructure assets. It owns a 50% interest in the Canadian segment of the Alliance Pipeline, a 100% interest in Enbridge Pipelines (Saskatchewan) Inc., a 50% interest in NRGreen Power Limited Partnership, which is developing electrical generation opportunities with waste heat, and interests in three wind power projects in Western Canada. Information about Enbridge Income Fund is available on the Fund's web site at www.enbridgeincomefund.com.

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