News Release

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TEPPCO Partners, L.P. Reports Record Results for the Third Quarter of 2006

HOUSTON--(BUSINESS WIRE)--Nov. 6, 2006--TEPPCO Partners, L.P. (NYSE:TPP) today reported net income of $41.1 million, or $0.39 per unit for the third quarter of 2006, compared with net income of $29.6 million, or $0.30 per unit, for the third quarter of 2005. Net income for the nine months ended Sept. 30, 2006, was $145.5 million, or $1.43 per unit, compared with $117.9 million, or $1.25 per unit, for the same period in 2005. Net income for the nine months ended Sept. 30, 2006, includes a $17.9 million gain on the sale of the Pioneer gas processing plant, which occurred on March 31, 2006. Income from continuing operations for the nine months ended Sept. 30, 2006, which excludes the impact of the sale of the Pioneer gas processing plant, was $126.1 million, or $1.24 per unit, compared with $115.2 million, or $1.22 per unit for the corresponding nine-month period in 2005.

Earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations increased by 18 percent, or $15.1 million, to a record $101.6 million for the third quarter of 2006, compared with $86.5 million for the third quarter of 2005. EBITDA from continuing operations increased by 7 percent, or $18.8 million, to $298.5 million for the nine months ended Sept. 30, 2006, compared with $279.7 million for the same 2005 period. EBITDA is a non-GAAP financial measure which is defined and reconciled to its most directly comparable GAAP financial measure later in this news release.

"In terms of EBITDA, each of our operating segments not only recorded improved quarterly results, but combined to produce the best third quarter in the partnership's history," said Jerry E. Thompson, TEPPCO president and chief executive officer. "We believe TEPPCO is well on its way to reporting an annual record for EBITDA from continuing operations for 2006."

"The performance of our Upstream segment was particularly noteworthy," Thompson added, "as its strong 2006 performance continued, benefiting from increased marketing volumes and rates. Results of the Midstream segment were highlighted by increased volumes from the Jonah natural gas gathering system. The next expansion now under way on the Jonah system is expected to ultimately increase capacity on the system from 1.5 billion cubic feet per day (Bcf/d) to 2.4 Bcf/d by the end of 2007. Overall, our Downstream segment recorded stable volumes and benefited from higher average tariff rates and lower operating expenses in the third quarter of 2006."

OPERATING RESULTS BY BUSINESS SEGMENT

Upstream segment

The Upstream segment includes transportation, storage, gathering and marketing of crude oil and distribution of lubrication oils and specialty chemicals.

EBITDA from continuing operations for the Upstream segment increased 48 percent to $28.2 million for the third quarter of 2006, compared with $19.1 million for the third quarter of 2005. The increase in EBITDA resulted primarily from improved marketing margins, attributable to favorable market conditions and a greater percentage of transportation volumes to higher tariff locations. Operating expenses also decreased from the prior year period, primarily due to lower maintenance costs and higher product measurement gains. Total crude oil volumes marketed increased 6 percent to 630,000 barrels per day (bpd) for the third quarter of 2006, compared with 595,000 bpd for the same quarter in 2005. Transportation volumes were 252,000 bpd for the third quarter of 2006, compared with 258,000 bpd for the third quarter of 2005.

TEPPCO's pro-rata share of EBITDA in Seaway Crude Pipeline, which is included in Upstream EBITDA, was $4.8 million for the third quarter of 2006, compared with $7.3 million for the third quarter of 2005. The decrease was primarily due to the terms of the Seaway partnership agreement whereby TEPPCO's participation ratio in Seaway's earnings decreased from 60 percent to 40 percent, effective May 2006 (on a pro-rated basis, the average rate for 2006 is 47 percent), and decreased transportation volumes. Long-haul volumes on Seaway averaged 239,000 bpd in the third quarter of 2006, compared with 296,000 bpd in the same quarter of 2005, which benefited from higher transportation demand in the 2005 period as a result of Hurricanes Katrina and Rita. The lower transportation revenues on Seaway were partially offset by lower operating expenses.

Midstream segment

The Midstream segment includes natural gas gathering services and storage; transportation; and fractionation of natural gas liquids (NGLs).

EBITDA from continuing operations for the Midstream segment was $40.8 million for the third quarter of 2006, an increase of 8 percent from $37.8 million of EBITDA for the third quarter of 2005. The increase was primarily due to increased gathering volumes on the Jonah system resulting from the completion of the Phase IV expansion in early 2006.

Natural gas gathering volumes on the Jonah system increased 13 percent to approximately 1.3 Bcf/d in the third quarter of 2006, compared with approximately 1.15 Bcf/d in the third quarter of 2005. The increase in EBITDA for the quarter was partially offset by higher expenses for pipeline imbalance valuations and maintenance costs on the Val Verde system. Natural gas gathering volumes on the Val Verde system were 489 million cubic feet per day (MMcf/d) in the third quarter of 2006, compared with 503 MMcf/d in the third quarter of 2005.

As previously announced, effective Aug. 1, 2006, TEPPCO formed a new joint venture with Enterprise Products Partners L.P., which acquired an interest in Jonah Gas Gathering Company through an affiliate. As a result of the formation of the joint venture, Jonah will be accounted for under the equity method and has been deconsolidated in TEPPCO's financial statements and operating results since Aug. 1, 2006. The joint venture is currently constructing the Phase V expansion on the Jonah system which is expected to increase capacity in the Jonah and Pinedale fields to 2.4 Bcf/d and reduce wellhead pressures in order to increase production rates and maximize the recovery of reserves. The Jonah/Pinedale area has provided a consistent stream of expansion projects for the partnership and is one of the six major growth initiatives TEPPCO is currently pursuing.

The high level of drilling and development activity in the Jonah/Pinedale area should bode well for the future of TEPPCO's interest in Jonah Gas Gathering Company. At the same time, the overall high level of activity in the greater Green River Basin area has strained locally available resources, including equipment and qualified personnel. Coupled with rising steel costs, these factors are likely to contribute to higher overall costs than previously anticipated for the Jonah expansion. TEPPCO expects to fund roughly half of the Phase V expansion.

Downstream segment

The Downstream segment includes the transportation and storage of refined products, liquefied petroleum gases (LPGs) and petrochemicals.

EBITDA from continuing operations for the Downstream segment increased 10 percent to $32.6 million for the third quarter of 2006, compared with $29.6 million for the third quarter of 2005. The increase was primarily due to a higher average tariff rate on overall refined products transportation volumes, increased storage revenue related to the assets acquired from Texas Genco in 2005 and other systems, and lower property tax expense and general administrative expense in 2006. These increases in EBITDA were partially offset by increased operating expenses. Transportation volumes increased 2 percent to approximately 574,000 bpd in the third quarter of 2006, compared with approximately 562,000 bpd in the third quarter of 2005.

The partnership's pro-rata share of EBITDA from unconsolidated investments (principally Centennial Pipeline and Mont Belvieu Storage Partners), which is included in total Downstream segment EBITDA, was $2 million for the third quarter of 2006, compared with $4.5 million for the third quarter of 2005. TEPPCO's pro-rata share of EBITDA in Centennial Pipeline was a loss of $0.4 million for the third quarter of 2006, compared to income of $1.5 million for the third quarter of 2005. The decrease was primarily attributable to increased pipeline integrity expenses and lower transportation volumes. The partnership's pro-rata share of EBITDA in Mont Belvieu Storage Partners, which is in the process of being divested pursuant to an order and consent agreement with the Federal Trade Commission, was $2.4 million for the third quarter of 2006, compared with $3.1 million for the third quarter of 2005. The decrease was primarily due to product measurement losses in the 2006 period.

Thompson added, "I am pleased to report that in addition to our Jonah expansion, we have several attractive initiatives currently under development in our Upstream and Downstream segments. These developing projects, which include the recently announced acquisition of the Mississippi terminal, are consistent with the new strategic plan that we unveiled at our August analyst conference. We expect these projects to enhance our ability to increase the partnership's distributable cash flow and to add value for our unitholders."

CAPITALIZATION AND LIQUIDITY

Total debt outstanding at Sept. 30, 2006, was approximately $1.5 billion, with liquidity of approximately $331 million available under TEPPCO's $700 million credit facility.

2006 OUTLOOK

Based on results during the nine months ended Sept. 30, 2006, and projections for the fourth quarter, the partnership expects EBITDA for the full year of 2006, excluding the results from discontinued operations, to remain in the range of $400 million to $420 million. Net income per unit is expected to remain in the range of $1.65 to $1.85 per unit, excluding the results of discontinued operations, which reflect the increase in the weighted average number of units outstanding resulting from the new units issued in July 2006.

TEPPCO currently anticipates that total capital expenditures for 2006 will be approximately $195 million, which will include approximately $160 million for organic growth projects and system upgrades. Maintenance capital expenditures for 2006 are expected to be $35 million, which includes $19 million for pipeline integrity. Additionally, TEPPCO expects to invest approximately $125 million in 2006 for its share of capital expenditures related to the Jonah Phase V expansion.

SPECIAL UNITHOLDER MEETING

On Oct. 26, 2006, TEPPCO convened its previously announced special unitholder meeting to vote on proposals presented in the proxy statement dated Sept. 5, 2006. During the meeting, TEPPCO's general partner, Texas Eastern Products Pipeline Company, LLC, exercised its right to adjourn the meeting and reconvene on Nov. 30, 2006. No vote was taken on the proposals due to the lack of a quorum. The reconvened meeting will be held at 1 p.m. CST at the Hyatt Regency Hotel, 1200 Louisiana Street, Houston, Texas 77002.

NON-GAAP FINANCIAL MEASURES

The Financial Highlights table accompanying this earnings release and other disclosures herein include references to EBITDA, which may be viewed as a non-GAAP (Generally Accepted Accounting Principles) measure under the rules of the Securities and Exchange Commission (SEC). We define EBITDA as net income plus interest expense - net, deferred income tax expense, depreciation and amortization, and a pro-rata portion, based on our equity ownership, of the interest expense and depreciation and amortization of each of our joint ventures. We have included EBITDA as a supplemental disclosure because we believe EBITDA is used by our investors as a supplemental financial measure in the evaluation of our business. A reconciliation of EBITDA to net income is provided in the Financial Highlights table.

We believe EBITDA provides useful information regarding the performance of our assets without regard to financing methods, capital structures or historical costs basis. As a result, EBITDA provides investors with a helpful measure for comparing the operating performance of our assets with the performance of other companies that have different financing and capital structures. EBITDA multiples are also used by our investors in assisting in the valuation of our limited partners' equity. EBITDA should not be considered as an alternative to net income or income from continuing operations, operating income, cash flows from operating activities or any other measure of financial performance calculated and presented in accordance with GAAP. Our EBITDA may not be comparable to EBITDA of other entities because other entities may not calculate EBITDA in the same manner as we do.

Information in the accompanying Operating Data table includes margin of the Upstream segment, which may also be viewed as a non-GAAP financial measure under the rules of the SEC. Margin is calculated as revenues generated from the sale of crude oil and lubrication oil, and transportation of crude oil, less the costs of purchases of crude oil and lubrication oil. We believe margin is a more meaningful measure of financial performance than sales and purchases of crude oil and lubrication oil due to the significant fluctuations in sales and purchases caused by variations in the level of marketing activity and prices for products marketed. Additionally, we use margin internally to evaluate the financial performance of the Upstream segment because it excludes expenses that are not directly related to the marketing and sales activities being evaluated. A reconciliation of margin to operating income is provided in the Operating Data table accompanying this earnings release. TEPPCO will host a conference call related to earnings performance at 8 a.m. CST on Tuesday, Nov. 7, 2006. Interested parties may listen live over the Internet or via telephone by dialing (800) 474-8920, confirmation code 1647520. Please call five to 10 minutes prior to the scheduled start time. To participate live over the Internet, log on to the company's web site at www.teppco.com.

An audio replay of the conference call will also be available for seven days by dialing (888) 203-1112, confirmation code 1647520. A replay and transcript will also be available by accessing the company's web site.

TEPPCO Partners, L.P. is a publicly traded partnership with an enterprise value of approximately $4 billion, which conducts business through various subsidiary operating companies. TEPPCO owns and operates one of the largest common carrier pipelines of refined petroleum products and liquefied petroleum gases in the United States; owns and operates petrochemical and natural gas liquid pipelines; is engaged in transportation, storage, gathering and marketing of crude oil; owns and operates natural gas gathering systems; and has ownership interests in Jonah Gas Gathering Company, Seaway Crude Pipeline Company, Centennial Pipeline LLC, Mont Belvieu Storage Partners, L.P. and an undivided ownership interest in the Basin Pipeline. Texas Eastern Products Pipeline Company, LLC, an indirect subsidiary of EPCO, Inc., is the general partner of TEPPCO Partners, L.P. For more information, visit TEPPCO's web site.

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Except for the historical information contained herein, the matters discussed in this news release, including without limitation those under the captions "Midstream segment," "Downstream segment," "Upstream segment," and "2006 Outlook" are forward-looking statements that involve certain risks and uncertainties. These risks and uncertainties include, among other things, market conditions, governmental regulations and risk factors discussed in TEPPCO Partners, L.P. filings with the Securities and Exchange Commission.

                        TEPPCO Partners, L.P.
                         FINANCIAL HIGHLIGHTS
          (Unaudited - In Millions, Except Per Unit Amounts)


                              Three Months Ended   Nine Months Ended
                                 September 30,       September 30,
                              ------------------- -------------------
                                2006      2005      2006      2005
                              --------- --------- --------- ---------
Operating Revenues:
    Sales of petroleum
     products                 $2,446.7  $2,367.8  $7,130.3  $5,714.2
    Transportation - Refined
     Products                     42.1      38.3     113.3     111.1
    Transportation - LPGs         16.9      16.5      59.7      63.2
    Transportation - Crude
     oil                           9.5      10.0      29.0      28.2
    Transportation - NGLs         11.0      11.8      32.4      33.4
    Gathering - Natural Gas       25.0      38.8     107.8     112.4
    Other                         18.9      16.9      59.0      48.8
                              --------- --------- --------- ---------

        Total Operating
         Revenues              2,570.1   2,500.1   7,531.5   6,111.3
                              --------- --------- --------- ---------

Costs and Expenses:
    Purchases of petroleum
     products                  2,417.6   2,349.9   7,043.4   5,662.9
    Operating expenses            51.9      55.0     165.0     151.0
    Operating fuel and power      15.5      12.5      42.8      35.2
    General and
     administrative                7.0       8.5      25.4      21.8
    Depreciation and
     amortization                 26.3      30.8      83.7      82.6
    Gains on sales of assets         -         -      (1.4)     (0.6)
                              --------- --------- --------- ---------

        Total Costs and
         Expenses              2,518.3   2,456.7   7,358.9   5,952.9
                              --------- --------- --------- ---------

        Operating Income          51.8      43.4     172.6     158.4
                              --------- --------- --------- ---------

Interest expense - net           (23.2)    (19.7)    (63.5)    (60.6)
Equity earnings (1)               11.5       4.7      15.2      16.6
Other income - net                 1.1       0.5       2.4       0.8
                              --------- --------- --------- ---------

        Income before
         deferred income tax
         expense                  41.2      28.9     126.7     115.2

Deferred income tax expense        0.1         -       0.6         -
                              --------- --------- --------- ---------

        Income from
         continuing
         operations               41.1      28.9     126.1     115.2

Income from discontinued
 operations                          -       0.7       1.5       2.7
Gain on sale of discontinued
 operations                          -         -      17.9         -
                              --------- --------- --------- ---------

        Discontinued
         operations                  -       0.7      19.4       2.7
                              --------- --------- --------- ---------

        Net Income               $41.1     $29.6    $145.5    $117.9
                              ========= ========= ========= =========

Net Income Allocation:
-----------------------------
    Limited Partner
     Unitholders:
        Income from
         continuing
         operations              $29.0     $20.4     $89.0     $81.5
        Discontinued
         operations                  -       0.5      13.7       1.9
                              --------- --------- --------- ---------
        Total Net Income
         Allocated to Limited
         Partners Unitholders     29.0      20.9     102.7      83.4
                              --------- --------- --------- ---------

    General Partner:
        Income from
         continuing
         operations               12.1       8.5      37.1      33.7
        Discontinued
         operations                  -       0.2       5.7       0.8
                              --------- --------- --------- ---------
        Total Net Income
         Allocated to General
         Partner                  12.1       8.7      42.8      34.5
                              --------- --------- --------- ---------

    Total:
        Income from
         continuing
         operations               41.1      28.9     126.1     115.2
        Discontinued
         operations                  -       0.7      19.4       2.7
                              --------- --------- --------- ---------
        Total Net Income
         Allocated               $41.1     $29.6    $145.5    $117.9
                              ========= ========= ========= =========

    Basic and Diluted Net
     Income Per Limited
     Partner Unit:
        Income from
         continuing
         operations              $0.39     $0.29     $1.24     $1.22
        Discontinued
         operations                  -      0.01      0.19      0.03
                              --------- --------- --------- ---------
        Earnings Per Unit        $0.39     $0.30     $1.43     $1.25
                              ========= ========= ========= =========

    Weighted Average Number
     of Limited Partner Units     75.4      70.0      71.8      66.5
                              ========= ========= ========= =========

(1) EBITDA
        Net Income               $41.1     $29.6    $145.5    $117.9
        Discontinued
         operations                  -      (0.7)    (19.4)     (2.7)
                              --------- --------- --------- ---------
        Income from
         continuing
         operations               41.1      28.9     126.1     115.2
        Deferred income tax
         expense                   0.1         -       0.6         -
        Interest expense -
         net                      23.2      19.7      63.5      60.6
        Depreciation and
         amortization (D&A)       26.3      30.8      83.7      82.6
        Amortization of
         excess investment in
         joint ventures            1.2       1.3       3.2       3.8
        TEPPCO's pro-rata
         percentage of joint
         venture interest
         expense and D&A           9.7       5.8      21.4      17.5
                              --------- --------- --------- ---------
    EBITDA from continuing
     operations                 $101.6     $86.5    $298.5    $279.7
                              --------- --------- --------- ---------

    Discontinued operations          -       0.7      19.4       2.7
    D&A included in
     discontinued operations         -       0.2       0.1       0.5
                              --------- --------- --------- ---------

    EBITDA                      $101.6     $87.4    $318.0    $282.9
                              ========= ========= ========= =========
                        TEPPCO Partners, L.P.
                        BUSINESS SEGMENT DATA
                      (Unaudited - In Millions)



Three Months
 Ended September  Down-    Mid-              Intersegment
 30, 2006         stream stream(1) Upstream  Eliminations Consolidated
----------------- ------ --------- --------- ------------ ------------

Operating
 revenues         $72.4     $43.9  $2,453.9        $(0.1)    $2,570.1
Purchases of
 petroleum
 products             -       4.3   2,413.4         (0.1)     2,417.6
Operating
 expenses          38.7      12.8      15.9            -         67.4
General and
 administrative     3.4       2.1       1.5            -          7.0
Depreciation and
 amortization
 (D&A)             10.7      11.9       3.7            -         26.3
                  ------ --------- --------- ------------ ------------

     Operating
      Income       19.6      12.8      19.4            -         51.8

Equity (losses)
 earnings (2)      (3.0)     11.5       3.0            -         11.5
Other - net         0.3       0.5       0.3            -          1.1
                  ------ --------- --------- ------------ ------------

     Income
      before
      interest     16.9      24.8      22.7            -         64.4
                  ------ --------- --------- ------------ ------------

Depreciation and
 amortization      10.7      11.9       3.7            -         26.3
Amortization of
 excess
 investment in
 joint ventures     1.0         -       0.2            -          1.2
TEPPCO's pro-rata
 percentage of
 joint venture
 interest expense
 and D&A            4.0       4.1       1.6            -          9.7
                  ------ --------- --------- ------------ ------------

     EBITDA from
      continuing
      operations  $32.6     $40.8     $28.2           $-       $101.6
                  ====== ========= ========= ============ ============

Discontinued
 operations                                                         -
Deferred income
 tax expense                                                     (0.1)
Depreciation and
 amortization                                                   (26.3)
Interest expense
 - net                                                          (23.2)
Amortization of
 excess
 investment in
 joint ventures                                                  (1.2)
TEPPCO's pro-rata
 percentage of
 joint venture
 interest expense
 and D&A                                                         (9.7)
                                                          ------------

     Net Income                                                 $41.1
                                                          ============


Three Months
 Ended September  Down-    Mid-              Intersegment
 30, 2005         stream stream(1) Upstream  Eliminations Consolidated
----------------- ------ --------- --------- ------------ ------------

Operating
 revenues         $66.1     $53.6  $2,380.7        $(0.3)    $2,500.1
Purchases of
 petroleum
 products             -         -   2,350.1         (0.2)     2,349.9
Operating
 expenses          36.8      13.7      17.1         (0.1)        67.5
General and
 administrative     4.6       2.1       1.8            -          8.5
Depreciation and
 amortization
 (D&A)             10.1      14.2       6.5            -         30.8
                  ------ --------- --------- ------------ ------------

     Operating
      Income       14.6      23.6       5.2            -         43.4

Equity (losses)
 earnings (2)      (0.7)        -       5.4            -          4.7
Other - net         0.4         -       0.1            -          0.5
                  ------ --------- --------- ------------ ------------

     Income
      before
      interest     14.3      23.6      10.7            -         48.6
                  ------ --------- --------- ------------ ------------

Depreciation and
 amortization      10.1      14.2       6.5            -         30.8
Amortization of
 excess
 investment in
 joint ventures     1.1         -       0.2            -          1.3
TEPPCO's pro-rata
 percentage of
 joint venture
 interest expense
 and D&A            4.1         -       1.7            -          5.8
                  ------ --------- --------- ------------ ------------

     EBITDA from
      continuing
      operations  $29.6     $37.8     $19.1           $-        $86.5
                  ====== ========= ========= ============ ============

Discontinued
 operations                                                       0.7
Depreciation and
 amortization                                                   (30.8)
Interest expense
 - net                                                          (19.7)
Amortization of
 excess
 investment in
 joint ventures                                                  (1.3)
TEPPCO's pro-rata
 percentage of
 joint venture
 interest expense
 and D&A                                                         (5.8)
                                                          ------------

     Net Income                                                 $29.6
                                                          ============


(1) Effective August 1, 2006, Jonah was deconsolidated and is now
 accounted for as an equity investment.

(2) Downstream equity (losses) earnings includes our equity
 investments in Centennial Pipeline, Mont Belvieu Storage Partners and
 another investment.

                        TEPPCO Partners, L.P.
                        BUSINESS SEGMENT DATA
                      (Unaudited - In Millions)



Nine Months
 Ended September  Down-    Mid-              Intersegment
 30, 2006        stream  stream(1) Upstream  Eliminations Consolidated
---------------- ------- --------- --------- ------------ ------------

Operating
 revenues        $215.8    $170.6  $7,152.5        $(7.4)    $7,531.5
Purchases of
 petroleum
 products             -      17.3   7,032.9         (6.8)     7,043.4
Operating
 expenses         111.7      45.7      51.0         (0.6)       207.8
General and
 administrative    13.3       7.0       5.1            -         25.4
Depreciation and
 amortization
 (D&A)             31.1      42.1      10.5            -         83.7
Gains on sales
 of assets            -      (1.4)        -            -         (1.4)
                 ------- --------- --------- ------------ ------------

     Operating
      Income       59.7      59.9      53.0            -        172.6

Equity (losses)
 earnings (2)      (6.6)     11.5      10.3            -         15.2
Other - net         1.2       0.6       0.6            -          2.4
                 ------- --------- --------- ------------ ------------

     Income
      before
      interest     54.3      72.0      63.9            -        190.2
                 ------- --------- --------- ------------ ------------

Depreciation and
 amortization      31.1      42.1      10.5            -         83.7
Amortization of
 excess
 investment in
 joint ventures     2.7         -       0.5            -          3.2
TEPPCO's pro-
 rata percentage
 of joint
 venture
 interest
 expense and D&A   12.4       4.1       4.9            -         21.4
                 ------- --------- --------- ------------ ------------

     EBITDA from
      continuing
      operations $100.5    $118.2     $79.8           $-       $298.5
                 ======= ========= ========= ============ ============

Discontinued
 operations                                                      19.4
Deferred income
 tax expense                                                     (0.6)
Depreciation and
 amortization                                                   (83.7)
Interest expense
 - net                                                          (63.5)
Amortization of
 excess
 investment in
 joint ventures                                                  (3.2)
TEPPCO's pro-
 rata percentage
 of joint
 venture
 interest
 expense and D&A                                                (21.4)
                                                          ------------

     Net Income                                                $145.5
                                                          ============


Nine Months
 Ended September  Down-    Mid-              Intersegment
 30, 2005        stream  stream(1) Upstream  Eliminations Consolidated
---------------- ------- --------- --------- ------------ ------------

Operating
 revenues        $207.7    $155.5  $5,750.5        $(2.4)    $6,111.3
Purchases of
 petroleum
 products             -         -   5,665.1         (2.2)     5,662.9
Operating
 expenses         104.9      36.2      45.3         (0.2)       186.2
General and
 administrative    12.3       5.0       4.5            -         21.8
Depreciation and
 amortization
 (D&A)             29.5      39.5      13.6            -         82.6
Gains on sales
 of assets         (0.1)     (0.4)     (0.1)           -         (0.6)
                 ------- --------- --------- ------------ ------------

     Operating
      Income       61.1      75.2      22.1            -        158.4

Equity (losses)
 earnings (2)      (2.7)        -      19.3            -         16.6
Other - net         0.6       0.1       0.1            -          0.8
                 ------- --------- --------- ------------ ------------

     Income
      before
      interest     59.0      75.3      41.5            -        175.8
                 ------- --------- --------- ------------ ------------

Depreciation and
 amortization      29.5      39.5      13.6            -         82.6
Amortization of
 excess
 investment in
 joint ventures     3.3         -       0.5            -          3.8
TEPPCO's pro-
 rata percentage
 of joint
 venture
 interest
 expense and D&A   12.2         -       5.3            -         17.5
                 ------- --------- --------- ------------ ------------

     EBITDA from
      continuing
      operations $104.0    $114.8     $60.9           $-       $279.7
                 ======= ========= ========= ============ ============

Discontinued
 operations                                                       2.7
Depreciation and
 amortization                                                   (82.6)
Interest expense
 - net                                                          (60.6)
Amortization of
 excess
 investment in
 joint ventures                                                  (3.8)
TEPPCO's pro-
 rata percentage
 of joint
 venture
 interest
 expense and D&A                                                (17.5)
                                                          ------------

     Net Income                                                $117.9
                                                          ============


(1) Effective August 1, 2006, Jonah was deconsolidated and is now
 accounted for as an equity investment.

(2) Downstream equity (losses) earnings includes our equity
 investments in Centennial Pipeline, Mont Belvieu Storage Partners and
 another investment.

TEPPCO Partners, L. P.
Condensed Statements of Cash Flows (Unaudited) (In Millions)


                                              Nine Months Ended
                                                September 30,
                                        -----------------------------
                                            2006           2005
---------------------------------------------------------------------
Cash Flows from Operating Activities
    Net income                                 $145.5         $117.9
    Income from discontinued operations         (19.4)          (2.7)
    Deferred income tax expense                   0.6              -
    Gains on sales of assets                     (1.4)          (0.6)
    Depreciation, working capital and
     other                                      105.7          (68.6)
    Cash flows from discontinued
     operations                                   1.5            3.1
---------------------------------------------------------------------

Net Cash Provided by Operating
 Activities                                     232.5           49.1
---------------------------------------------------------------------

Cash Flows from Investing Activities:
    Proceeds from asset sales                    39.8            0.5
    Purchase of assets                          (11.0)        (112.2)
    Cash paid for linefill on assets
     owned                                       (5.6)          (5.1)
    Investment in Mont Belvieu Storage
     Partners, L.P.                              (4.2)          (2.6)
    Investment in Centennial Pipeline
     LLC                                         (2.5)             -
    Investment in Jonah Gas Gathering
     Company (1)                                (65.3)
    Capital expenditures (2)                   (125.7)        (148.1)
---------------------------------------------------------------------

Net Cash Used in Investing Activities          (174.5)        (267.5)
---------------------------------------------------------------------

Cash Flows from Financing Activities:
    Proceeds from revolving credit
     facilities                                 509.8          549.7
    Repayments on revolving credit
     facilities                                (556.7)        (442.2)
    Proceeds from the issuance of LP
     Units                                      195.1          278.8
    Distributions paid                         (206.2)        (184.2)
---------------------------------------------------------------------

Net Cash Provided by (Used in) Financing
 Activities                                     (58.0)         202.1
---------------------------------------------------------------------

Net Decrease in Cash and Cash
 Equivalents                                        -          (16.3)
Cash and Cash Equivalents -- beginning
 of period                                        0.1           16.4
---------------------------------------------------------------------

Cash and Cash Equivalents -- end of
 period                                          $0.1           $0.1
=====================================================================

Non-cash investing activities:
    Net assets transferred to Mont
     Belvieu Storage Partners, L.P.                $-           $1.4
    Net assets transferred to Jonah Gas
     Gathering Company                         $572.6             $-
    Payable to Enterprise Gas
     Processing, LLC for spending for
     Phase V expansion of Jonah Gas
     Gathering Company                          $18.9             $-
Supplemental Information:
    Interest paid (net of capitalized
     interest)                                  $84.4          $78.5
=====================================================================


(1) Effective August 1, 2006, Jonah was deconsolidated and is now
 accounted for as an equity investment.

(2) Includes capital expenditures for maintaining existing operations
 of $24.0 million in 2006, and $28.1 million in 2005.

                        TEPPCO Partners, L. P.
                 Condensed Balance Sheets (Unaudited)
                            (In Millions)

                                           September 30, December 31,
                                               2006          2005
----------------------------------------------------------------------

Assets
Current assets
   Cash and cash equivalents                       $0.1          $0.1
   Other                                          868.3         899.0
----------------------------------------------------------------------

Total current assets                              868.4         899.1

Property, plant and equipment - net             1,607.8       1,960.1
Intangible assets (1)                             189.6         376.9
Equity investments                              1,016.1         359.6
Other assets                                       86.1          84.8
----------------------------------------------------------------------

Total assets                                   $3,768.0      $3,680.5
======================================================================


Liabilities and Partners' Capital

Total current liabilities                        $938.1        $937.2
----------------------------------------------------------------------

Senior Notes (2)                                1,113.1       1,119.1
Other long-term debt                              359.0         405.9
Deferred tax liability                              0.6             -
Other non-current liabilities                      21.7          16.9
Partners' capital
   Accumulated other comprehensive loss            (0.3)            -
   General partner's interest (3)                 (79.3)        (61.5)
   Limited partners' interests                  1,415.1       1,262.9
----------------------------------------------------------------------

Total partners' capital                         1,335.5       1,201.4
----------------------------------------------------------------------

Total liabilities and partners' capital        $3,768.0      $3,680.5
======================================================================


(1)Includes the value of long-term service agreements between TEPPCO
    and its customers.
(2)Includes $25.2 million and $31.5 million at Sept. 30, 2006, and
    Dec. 31, 2005, respectively related to fair value hedges.
(3)Amount does not represent a future financial commitment by the
    General Partner to make a contribution to TEPPCO.
                        TEPPCO Partners, L. P.
                            OPERATING DATA
              (Unaudited - In Millions, Except as Noted)

                               Three Months Ended   Nine Months Ended
                                  September 30,       September 30,
                               ------------------- -------------------
                                 2006      2005      2006      2005
                               --------- --------- --------- ---------
Downstream Segment:
  Barrels Delivered
    Refined Products               43.0      43.1     125.1     123.8
    LPGs                            9.8       8.6      30.9      31.3
                               --------- --------- --------- ---------

    Total                          52.8      51.7     156.0     155.1
                               ========= ========= ========= =========

  Average Tariff Per Barrel
    Refined Products              $0.98     $0.89     $0.91     $0.90
    LPGs                           1.73      1.91      1.93      2.02

  Average System Tariff Per
   Barrel                         $1.12     $1.06     $1.11     $1.12

Upstream Segment:
  Margins/Revenues:
    Crude oil transportation
     revenue                      $18.2     $15.4     $50.5     $44.6
    Crude oil marketing margin     14.6       7.8      46.6      20.3
    Crude oil terminaling
     revenue                        2.9       2.7       8.7       7.2
    Lubrication Services, L.P.
     (LSI) margin                   2.2       2.0       6.4       5.4
                               --------- --------- --------- ---------
       Total Margins/Revenues     $37.9     $27.9    $112.2     $77.5
                               ========= ========= ========= =========

  Reconciliation of
   Margins/Revenues to
   Operating Income:

    Sales of petroleum
     products                  $2,441.8  $2,368.0  $7,116.1  $5,714.4
    Transportation - Crude oil      9.5      10.0      29.0      28.2
    Purchases of petroleum
     products                  (2,413.4) (2,350.1) (7,032.9) (5,665.1)
                               --------- --------- --------- ---------
       Total Margins/Revenues      37.9      27.9     112.2      77.5
    Other operating revenues        2.6       2.7       7.4       7.9
    Operating expenses            (15.9)    (17.1)    (51.0)    (45.3)
    General and administrative     (1.5)     (1.8)     (5.1)     (4.5)
    Depreciation and
     amortization                  (3.7)     (6.5)    (10.5)    (13.6)
    Gains on sales of assets          -         -         -       0.1
                               --------- --------- --------- ---------
       Operating income           $19.4      $5.2     $53.0     $22.1
                               ========= ========= ========= =========

  Total barrels
    Crude oil transportation       23.2      23.7      68.4      71.2
    Crude oil marketing            58.0      54.7     167.2     147.9
    Crude oil terminaling          30.2      28.5      92.9      76.9

  Lubrication oil volume
   (total gallons):                 3.5       3.6      10.7      10.9

  Margin/average tariff per
   barrel:
    Crude oil transportation     $0.782    $0.652    $0.738    $0.626
    Crude oil marketing           0.253     0.142     0.278     0.137
    Crude oil terminaling         0.095     0.097     0.094     0.094

  Lubrication oil margin (per
   gallon):                      $0.642    $0.546    $0.598    $0.494

Midstream Segment:
  Gathering - Natural Gas -
   Jonah
    Bcf                           118.7     106.0     338.8     302.4
    Btu (in trillions)            131.2     117.0     374.2     333.8

    Average fee per MMBtu        $0.204    $0.185    $0.206    $0.187

  Gathering - Natural Gas -
   Val Verde
    Bcf                            45.0      46.3     137.3     131.6
    Btu (in trillions)             39.9      40.9     121.5     115.7

    Average fee per MMBtu        $0.408    $0.422    $0.405    $0.430

  Transportation - NGLs
    Total barrels                  18.0      16.3      51.5      45.7
    Average rate per barrel      $0.609    $0.724    $0.628    $0.731

  Fractionation - NGLs
    Total barrels                   1.0       1.1       3.3       3.3
    Average rate per barrel      $1.633    $1.768    $1.655    $1.744

  Natural Gas Sales
    Btu (in millions)               3.5         -       6.2         -
    Average fee per MMBtu         $5.29        $-     $5.27        $-

  Sales - Condensate
    Total barrels (thousands)       2.7       3.4      45.7      44.6
    Average rate per barrel      $70.37    $55.60    $65.81    $50.21
                        TEPPCO Partners, L.P.
                        Earnings Estimate 2006
                 (Excluding Discontinued Operations)


Net Income                                $170 million - $190 million

Basic Net Income Per Limited Partner Unit        $1.65 - $1.85

Interest Expense, net                             $88 million

Depreciation and Amortization Expense             $106 million
 (D&A)

TEPPCO's Pro-rata Percentage of Joint             $32 million
 Venture
     Interest Expense and D&A

Amortization of Excess Investment in               $4 million
 Joint Ventures

EBITDA                                    $400 million - $420 million

CONTACT: TEPPCO Partners, L.P., Houston
Investor Relations
Brenda J. Peters, 713-381-3954
Toll Free: 800-659-0059
or
Media Relations
Rick Rainey, 713-381-3635

SOURCE: TEPPCO Partners, L.P.

K-1 Tax Information

The 2016 K-1s for Enterprise Products Partners L.P. (EPD) are available online.

Contact Info

Investor Relations

P.O. Box 4324

Houston, TX 77210-4324 USA

Phone: (866) 230-0745

Fax: (713) 381-8200

Email: Investor.relations@eprod.com

Transfer Agent

Mail

EQ Shareowner Services

PO Box 64874

St Paul MN 55164-0874


Overnight Mail

EQ Shareowner Services

1110 Centre Pointe Curve,

Suite 101

Mendota Heights MN 55120-4100