Energy Transfer Approves Distribution Increases

DALLAS--(Business Wire)--Energy Transfer Partners, L.P. (NYSE:ETP) and Energy Transfer
Equity, L.P. (NYSE:ETE) today announced that the Board of Directors of
each Partnership has approved the previously announced management
recommendations for distribution increases to their respective
unitholders. Each Partnership will have a one-time four-month
distribution to complete the conversion to a calendar year end from
the previous August 31 fiscal year end.

After this distribution payment, both Partnerships will continue
to make quarterly distributions on a three-month basis as they have
done in the past. Going forward, the new quarterly distribution
payment schedule will be mid February, mid May, mid August, and mid
November.

-- ETP's four-month distribution amount will be $1.1250 per unit
($3.375 per unit annualized), representing a distribution of
$0.84375 per unit for the three-month period and $0.28125 per
unit for the additional month. This represents an increase of
$0.075 per unit on an annualized basis. ETP's distribution
will be paid on February 14, 2008 to unitholders of record as
of the close of business on February 1, 2008.

-- ETE's four-month distribution amount will be $0.55 per unit
($1.64 per unit annualized), representing a distribution of
$0.41 per unit for the three-month period and $0.14 per unit
for the additional month. This represents an increase of $0.08
per unit on an annualized basis. ETE's distribution will be
paid on February 19, 2008 to unitholders of record as of the
close of business on February 1, 2008.

Energy Transfer Partners, L.P. (NYSE:ETP) is a publicly traded
partnership owning and operating a diversified portfolio of energy
assets. ETP has pipeline operations in Arizona, Colorado, Louisiana,
New Mexico and Utah, and owns the largest intrastate pipeline system
in Texas. ETP's natural gas operations include intrastate natural gas
gathering and transportation pipelines, natural gas treating and
processing assets and three natural gas storage facilities located in
Texas. These assets include approximately 14,000 miles of intrastate
pipeline in service, with approximately 500 miles of intrastate
pipeline under construction, and 2,400 miles of interstate pipeline.
ETP is also one of the three largest retail marketers of propane in
the United States, serving more than one million customers across the
country.

Energy Transfer Equity, L.P. (NYSE:ETE) owns the general partner
of Energy Transfer Partners and approximately 62.5 million ETP limited
partners units. Together ETP and ETE have a combined enterprise value
of approximately $20 billion.

The information contained in this press release is available on
the Partnership's website at www.energytransfer.com.

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*T
Company: Energy Transfer Partners, L.P. (NYSE:ETP)
Record Date: February 1, 2008
Ex Date: January 30, 2008
Payment Date: February 14, 2008
Four-Month Distribution: $1.125 per Common Unit

Company: Energy Transfer Equity, L.P. (NYSE:ETE)
Record Date: February 1, 2008
Ex Date: January 30, 2008
Payment Date: February 19, 2008
Four-Month Distribution: $0.55 per Common Unit
*T

Investor Relations
Energy Transfer
Renee Lorenz, 214-981-0700
or
Media Relations
Gittins & Granado
Vicki Granado, 214-504-2260 (office)
214-498-9272 (cell)

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