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Enterprise Prices $50 Million Re-Opening of Junior Subordinated Notes Due 2066

HOUSTON--(BUSINESS WIRE)--Sept. 15, 2006--Enterprise Products Partners L.P. (NYSE:EPD) announced today that its operating subsidiary, Enterprise Products Operating L.P. ("Enterprise"), priced a $50,000,000 re-opening of its 8.375% Fixed/Floating Rate Junior Subordinated Notes ("Notes") due August 1, 2066 in a public offering. These Notes constitute a further issuance of the $300,000,000 aggregate principal amount of Notes issued on July 18, 2006 and the $200,000,000 additional aggregate principal amount of Notes issued on August 25, 2006. This issuance will form a single series, will have the same CUSIP number and will trade interchangeably with the previously issued Notes immediately upon settlement. Upon completion of this offering, $550,000,000 aggregate principal amount of Notes will be outstanding.

The $50,000,000 of Notes issued in this offering will be sold at $104.154 per $100.00 par amount for an effective yield of 7.761% for the initial 10-year fixed-rate period, plus accrued interest since July 18, 2006. Enterprise expects to complete the offering on September 20, 2006 subject to customary closing conditions. Estimated net proceeds from this offering are $51,615,000.

Lehman Brothers Inc. was the sole book-running manager. An investor may obtain a copy of the prospectus for this offering for free by visiting EDGAR on the SEC website at Alternatively, Lehman will arrange to send a prospectus to an investor if requested by calling 888-603-5847.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the notes described in this press release, nor shall there be any sale of these notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such jurisdiction. The offer is being made only through the prospectus as supplemented, which is part of a shelf registration statement that became effective on March 23, 2005.

Enterprise Products Partners L.P. is one of the largest publicly traded energy partnerships with an enterprise value of approximately $16 billion, and is a North American provider of midstream energy services to producers and consumers of natural gas, NGLs and crude oil. Enterprise transports natural gas, NGLs and crude oil through more than 34,000 miles of onshore and offshore pipelines. Services include natural gas transportation, gathering, processing and storage; NGL fractionation (or separation), transportation, storage, and import and export terminaling; crude oil transportation and offshore production platform services. For more information, visit Enterprise on the web at Enterprise Products Partners L.P. is managed by its general partner, Enterprise Products GP LLC, which is wholly owned by Enterprise GP Holdings L.P. (NYSE:EPE). For more information on Enterprise GP Holdings L.P., visit its website at

CONTACT: Enterprise Products Partners L.P.
Investor Relations:
Randy Burkhalter, 713-381-6812 or toll-free 866-230-0745
Media Relations:
Rick Rainey, 713-381-3635

SOURCE: Enterprise Products Partners L.P.

K-1 Tax Information

The 2017 K-1s for Enterprise Products Partners L.P. (EPD) are available online.

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