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Shareholder Information

General Office
KeySpan
One MetroTech Center
Brooklyn, NY 11201-3850

Stock Listings
KeySpan common stock is traded primarily on the New York Stock Exchange (NYSE) under the trading symbol 'KSE: The common stock of The Houston Exploration Company is primarily traded on the NYSE under the trading symbol 'THX: Daily stock quotes are listed in most major newspapers under the headings 'KeySpan' and 'HoustEx,' respectively.

KeySpan Investor Program
('Dividend Reinvestment Plan')

The KeySpan Investor Program is an Open Enrollment/Dividend Reinvestment Plan. The Plan offers individuals a convenient and cost-effective way of purchasing KeySpan common stock. This Plan is open to everyone (NOTjust existing shareholders). To enroll in the Plan, individuals must complete an application and mail in an initial investment of at least $250. There is a one-time fee of $7.50.

PARAMETERS
Eligibility: Open Enrollment

INITIAL INVESTMENT
Minimum: $250
Maximum: $150,000
Fee: $7.50

ONGOING INVESTMENT
Minimum: $25
Maximum: $150,000

INVESTMENT FREQUENCY: Weekly on Thursday
SALES FREQUENCY: Daily
SALES FEE: $5.00 + 5 cents per share
FULL OR PARTIAL REINVESTMENT: Yes
ELECTRONIC DEBITS 0 CREDITS: Yes
SAFEKEEPING OF SHARES: Yes

Dividends
All of the dividends paid to holders of common stock of KeySpan Corporation during the calendar year 1999 are considered to be ordinary dividend income, and are, therefore, taxable (subject to review by the IRS). Tax Forms 1099-Div were mailed on January 27, 2000. Please consult your tax advisor for further information.

Dividend Payment Dates
DECLARATION
DATE
RECORD
DATE
PAYMENT
DATE

Dec. 20, 1999 Jan. 12, 2000 Feb. 1, 2000
Feb. 24, 2000 Apr. 13, 2000 May 1, 2000
Jun. 29, 2000 Jul. 11, 2000 Aug. 1, 2000
Sept. 28, 2000 Oct. 10, 2000 Nov. 1, 2000
Dec. 21, 2000 Jan. 11, 2001 Feb. 1, 2001


Investor Services
Please direct inquiries to:
KeySpan
Investor Services
One MetroTech Center
Brooklyn, NY 11201-3850
Or call: 1-718-403-3196
E-mail: jdavis@keyspanenergy.com

Investor Relations
Inquiries from security analysts, stockbrokers, investment managers and other members of the financial community should be addressed to Michael J. Taunton, Vice President, Investor Relations at 1-718-403-3265, or by e-mail, mtaunton@keyspanenergy.com. Company information, including financial reports, is available at http://www.keyspanenergy.com.


Stock Transfer Agent and Registrar
EquiServe Trust Company, N.A.
Investment Plan Services
P.O. Box 2598
Jersey City, NJ 07303-2598
Call: 1-800-482-3638

Annual Report - Form 10-K
Re Company files an annual report on Form 10-K with the Securities and Exchange Commission, which includes additional information about the Company. This report is available to shareholders upon written request to Investor Relations.

Independent Public Accountants
Arthur Andersen UP
1345 Avenue of the Americas
New York, New York 10105
1-212-708-4000


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