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Press release from Marketwire

Enbridge Income Fund Holdings announces closing of $95.5 Million Common Share Offering

Tuesday, February 26, 2013

Enbridge Income Fund Holdings announces closing of $95.5 Million Common Share Offering08:31 EST Tuesday, February 26, 2013CALGARY, ALBERTA--(Marketwire - Feb. 26, 2013) -NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRE SERVICESEnbridge Income Fund Holdings Inc. (the "Company") (TSX:ENF) today announced it has closed its previously announced public offering of common shares of the Company ("Common Shares"). The Company, through a syndicate of underwriters co-led by CIBC World Markets and RBC Capital Markets and including BMO Capital Markets, Scotia Capital Inc., TD Securities and National Bank Financial Inc. issued 3.82 million Common Shares at a price of $25 per Common Share for gross proceeds of $95.5 million. Concurrently with the closing, Enbridge Inc. ("Enbridge") (NYSE, TSX: ENB) subscribed for 948,000 Common Shares at a price of $25 per Common Share on a private placement basis to maintain its 19.9% ownership interest in the Company and also subscribed for 5,232,000 Preferred Units, Series 4 of Enbridge Commercial Trust ("ECT") at a price of $25 per unit for gross proceeds of $130.8 million. The proceeds from the issuance of Common Shares of $119.2 million ($95.5 million public offering and $23.7 private placement), were used by the Company to subscribe for 4,768,000 common units of Enbridge Income Fund (the "Fund") at a price of $25 per unit. The Fund will use the proceeds from the issuance of the common units and from ECT, totalling $250 million, to repay debt used to fund capital expenditures and to partially fund ongoing capital expenditures associated with the Fund's organic expansion strategy.After the closing of the offering and the private placement to Enbridge, the Company has 56,491,000 Common Shares issued and outstanding, of which 11,242,000 Common Shares are owned by Enbridge Inc.ABOUT ENBRIDGE INCOME FUND HOLDINGS INC. Enbridge Income Fund Holdings Inc. is a publicly traded corporation. The Company, through its investment in Enbridge Income Fund, holds high quality, low risk energy infrastructure assets. The Fund's assets include interests in more than 500 megawatts of renewable and alternative power generation capacity, a portfolio of liquids transportation and storage businesses and a 50% interest in the Canadian segment of the Alliance Pipeline. Information about Enbridge Income Fund Holdings Inc. is available on the Company's website at www.enbridgeincomefund.com. Certain information provided in this news release constitutes forward-looking statements. Forward looking statements are typically identified by words such as "contemplate", "anticipate", "expect", "project", "estimate", "forecast" and similar words suggesting future outcomes or statements regarding an outlook. Although the Company believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements and assumptions are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, weather, economic conditions and commodity prices. You can find a discussion of those risks and uncertainties in our Canadian securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, including with respect to expected earnings and associated per share amounts, or estimated future dividends, may vary significantly from those expected. Readers are cautioned against placing undue reliance on forward-looking statements. Except as may be required by applicable securities laws, the Company assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Enbridge Income Fund Holdings Inc.Jennifer VareyMedia(888) 992-0997 / (403) 508-6563jennifer.varey@enbridge.comEnbridge Income Fund Holdings Inc.Teri MajerInvestment Community(403) 508-3185Teri.majer@enbridge.comwww.enbridgeincomefund.com