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Energy Transfer Partners, L.P. Completes Private Sale of Common Units

Posted on: Tuesday, 26 July 2005, 09:01 CDT

Energy Transfer Partners, L.P. (NYSE:ETP) announced today that it has sold 3,000,000 of its common units in a private sale to an institutional investor. The units were sold at a price of $35.20 per common unit. The common units will be issued under the Partnership's shelf registration statement.

The proceeds of approximately $105.6 million raised in this sale will be used to retire a portion of the outstanding indebtedness on the Partnership's revolving credit facility, further strengthening the Partnership's balance sheet, and is particularly timely for funding a portion of the Partnership's recently announced capital expansion projects.

Energy Transfer Partners, L.P. is a publicly traded partnership owning and operating a diversified portfolio of energy assets. The Partnership's natural gas operations include approximately 11,700 miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. The Partnership is the fourth largest retail marketer of propane in the United States, serving more than 700,000 customers from 315 customer service locations in 34 states extending from coast to coast, with concentrations in the western, upper midwestern, northeastern, and southeastern regions of the United States.

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. An extensive list of factors that can affect future results are discussed in the Partnership's Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

The information contained in this press release is available on the Partnership's website at www.energytransfer.com. For more information, please contact H. Michael Krimbill, President and Chief Financial Officer at 918-492-7272.

Source: Business Wire

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