KeySpan Subsidiaries Face Asbestos Related Litigation ----------------------------------------------------- Published November 22, 2002 KeySpan subsidiaries, along with several other parties, have been named as defendants in numerous proceedings filed by plaintiffs claiming various degrees of injury from asbestos exposure. Most of these proceedings have been commenced in the New York State Supreme Court for New York County by contractor employees allegedly as a result of exposure to asbestos in connection with the construction and maintenance of its electric generating facilities. At the present time, KeySpan is unable to determine the outcome of these proceedings, but does not believe that such outcome, if adverse, will have a material effect on its financial condition or results of operation. COMPANY PROFILE KeySpan Corporation (NYSE: KSE) 1 MetroTech Center Brooklyn, NY 11201-3850 Phone: 718-403-1000 Fax: 718-488-1782 Toll Free: 888-222-7359 http://www.keyspanenergy.com Employees : 13,000 Revenue : $ 6,633,100,000 Net Income : $ 224,300,000 Assets : $ 11,789,600,000 Liabilities : $ 8,814,800,000 (As of December 31, 2001) Description: KeySpan's Energy Delivery units bring natural gas to 2.5 million customers in New York, Massachusetts, and New Hampshire. The company also contracts with the Long Island Power Authority to manage electricity service for about 1.1 million customers, and it owns fossil- fueled power plants with a combined generating capacity of 6,200 MW. KeySpan markets electricity and gas to retail customers in the Northeast, and it sells capacity on its fiber-optic network in the New York City area to telecom carriers and ISPs.