Mr. Al Monaco reports

ENBRIDGE'S LINE 3 REPLACEMENT PROJECT APPROVED BY MINNESOTA PUBLIC UTILITIES COMMISSION

Enbridge Inc., Enbridge Energy Partners LP and Enbridge Income Fund Holdings Inc.'s Line 3 replacement project has been approved by the Minnesota Public Utilities Commission (PUC). The PUC granted Enbridge a certificate of need for the project and approved Enbridge's preferred route with minor modifications and certain conditions.

Commenting on the PUC decision, Al Monaco, president and chief executive officer, Enbridge, said: "We are very pleased that the PUC has determined the Line 3 replacement project is needed for Minnesota. Replacing Line 3 is first and foremost about the safety and integrity of this critical energy infrastructure. This project will also help ensure Minnesota and area refineries reliably receive the crude oil supply they need for the benefit of all Minnesotans and the surrounding region.

"The PUC's decision to approve our preferred route with modifications is a good outcome for Minnesota and the result of listening carefully to stakeholders and an effective consultation process. We believe our route best protects the environment and has overwhelming support of communities.

"We want to thank the thousands of Minnesotans, including unions, farmers, small business owners, civic leaders and all others for their hard work in support of this critical project. We would also like to thank the PUC for their very thorough and well-considered decision as well as all the state agencies and others involved in this process."

Financial implications

Based on the decisions, the cost estimate of the Line 3 replacement project remains materially unchanged at $5.3-billion in Canada and $2.9-billion (U.S.) in the United States with approximately $3.6-billion of capital spent to date on the overall project. Enbridge continues to anticipate an in-service date in the second half of 2019. The project supports the company's low-risk business profile and long-term cash flow stability, and is commercially underpinned by a 15-year surcharge to be applied on all barrels shipped on Enbridge's Mainline system.

Given the PUC's decision, there are no material revisions to the financial outlooks for Enbridge, Enbridge Energy Partners and Enbridge Income Fund Holdings.

About Enbridge Inc.

Enbridge is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities, and renewable power generation.

About Enbridge Income Fund Holdings Inc.

The company, through its investment in Enbridge Income Fund, indirectly holds high-quality, low-risk energy infrastructure assets. The fund's assets consist of a portfolio of Canadian liquids transportation and storage businesses, including the Canadian Mainline, the Regional oil sands system, the Canadian segment of the Southern Lights pipeline, Class A units entitling the holder to receive defined cash flows from the U.S. segment of the Southern Lights pipeline, a 50-per-cent interest in the Alliance pipeline, which transports natural gas from Canada to the United States, and interests in more than 1,400 megawatts of renewable and alternative power generation assets.

We seek Safe Harbor.