|TEPPCO Partners, L.P. Declares Increase in Quarterly Cash Distribution and Announces Third Quarter 2007 Earnings Call|
HOUSTON--(BUSINESS WIRE)--Oct. 12, 2007--TEPPCO Partners, L.P. (NYSE:TPP) today announced an increase in its quarterly cash distribution to $0.695 from $0.685 per unit. This distribution is payable November 7, 2007, to unitholders of record on October 31, 2007, and covers the period from July 1, 2007, through September 30, 2007.
"We are pleased to announce our second distribution increase in 2007, which represents a 3% increase in the annualized rate compared with the third quarter of 2006," said Jerry E. Thompson, president and chief executive officer of the general partner of TEPPCO.
TEPPCO plans to announce third quarter 2007 results on Thursday, October 25, 2007, before the market opens for trading. Following the announcement, the partnership will host a conference call related to earnings performance at 10:30 a.m. CDT.
Interested parties may listen live over the Internet (www.teppco.com) or via telephone by dialing 877-719-9810, confirmation code 9452025. Please call five to 10 minutes prior to the scheduled start time.
An audio replay of the conference call will also be available for seven days by dialing 888-203-1112, confirmation code 9452025. The replay and a transcript will also be available on the TEPPCO Web site.
TEPPCO Partners, L.P. is a publicly traded partnership with an enterprise value of approximately $5 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, 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 at www.teppco.com.
This news release includes forward-looking. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties, such as the partnership's expectations regarding future results or increases in distributable cash. These risks and uncertainties include, among other things, insufficient cash from operations, market conditions, governmental regulations and factors discussed in TEPPCO Partners, L.P. filings with the Securities and Exchange Commission. If any of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those expected. The partnership disclaims any intention or obligation to update publicly or reverse such statements, whether as a result of new information, future events or otherwise.
CONTACT: TEPPCO Partners, L.P., Houston
SOURCE: TEPPCO Partners, L.P.