Exhibit 99.1
KEYSPAN NEWS
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CORPORATION For Immediate Release
Contacts: Investors Media Relations
George Laskaris Andrea Staub
718.403.2526 516.545.5052
516.824.1241 (pager)
KEYSPAN APPOINTS ROBERT J. FANI PRESIDENT
AND CHIEF OPERATING OFFICER
Brooklyn, New York, September 26, 2003 --- KeySpan Corporation (NYSE:KSE)
today announced the appointment of Robert J. Fani as President and Chief
Operating Officer, effective October 1, 2003. The appointment was announced by
Robert B. Catell, Chairman and Chief Executive Officer, to whom Mr. Fani will
report.
"Bob Fani has distinguished himself across a spectrum of leadership roles
at KeySpan over the last 27 years. He brings leadership and strong management
skills to the day-to-day execution of our near and long-term strategies," said
Mr. Catell.
Wallace P. Parker Jr., will continue in his position as President of
KeySpan's Energy Delivery and Customer Relationship Group. In this position, he
is responsible for the Gas Business Unit, the fifth largest natural gas utility
in the United States. He also will continue in his role as CEO of KeySpan
Services, Inc., leading KeySpan's Home Energy Services, Business Solutions and
Communications businesses. Mr. Parker brings a strong management background to
his role, having served the company in a wide variety of management positions
since joining KeySpan in 1971.
Also effective October 1st, Steven L. Zelkowitz, currently Executive Vice
President and Chief Administrative Officer at KeySpan, is appointed to President
of KeySpan's Energy Assets and Supply Group which includes the company's
electric business, energy trading and supply business, and KeySpan Energy
Development Corporation. As Chief Administrative Officer, Mr. Zelkowitz
demonstrates broad industry knowledge coupled with regulatory affairs expertise.
"These appointments are an important step in our Board's disciplined
succession process, as Messrs. Fani, Parker and Zelkowitz continue to partner
with me in the Office of the Chairman," said Mr. Catell. "They represent the
depth and continuity of the KeySpan leadership team and assure KeySpan
shareholders of the excellence of our company going forward."
A member of the Standard & Poor's 500 Index, KeySpan Corporation (NYSE:
KSE) is the largest distributor of natural gas in the Northeast with 2.5 million
customers, operating regulated natural gas utilities in New York, Massachusetts
and New Hampshire under the KeySpan Energy Delivery service company. This
customer focused business is complemented by the Energy Services business which
offers a portfolio of energy-related products, services and solutions to homes
and businesses under the KeySpan Home Energy Services and KeySpan Business
Solutions companies. KeySpan is also the largest investor owned electric
generator in New York State. We own approximately 6,400 MW of generating
capacity, which provides power to 1.1 million LIPA customers on Long Island and
supplies 25% of New York City's capacity needs. In addition to these assets,
KeySpan has strategic investments in natural gas exploration, production,
pipeline transportation, distribution and storage, and Canadian gas processing.
KeySpan has headquarters in Brooklyn, Boston and Long Island and 12,000
employees. For more detailed financial and strategic information, please visit
our Investor Relations web page at http://investor.keyspanenergy.com.
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