Plains All American Pipeline Completes Public Offering of $350 Million of Senior Notes

HOUSTON--(Business Wire)--
Plains All American Pipeline, L.P. (NYSE:PAA) today announced that it has
completed a public offering of $350 million principal amount of 8.75% senior
unsecured notes due May 1, 2019 at an offering price of $99.994 (per $100 of
principal) to yield 8.750%.

Total net proceeds from the offering were approximately $347 million, and were
used to reduce outstanding borrowings under the Partnership`s credit facilities,
which may be reborrowed to fund future investments, and for general partnership
purposes.

Banc of America Securities LLC, J.P. Morgan, BNP PARIBAS and Wachovia Securities
were book-running managers of the offering. Copies of the prospectus supplement
and accompanying base prospectus relating to the offering may be obtained from
the underwriters as follows:

Banc of America Securities LLC J.P. Morgan Securities Inc.
Prospectus Department Attn: High Grade Syndicate Desk

100 West 33rd Street, 3rd Floor
270 Park Avenue

New York, New York 10001
New York, New York 10017

BNP Paribas Securities Corp. Wachovia Capital Markets, LLC
Debt Syndicate Desk Customer Information Center

787 Seventh Avenue
Attn: Syndicate Operations

New York, New York 10019
1525 West W.T. Harris Blvd.

Charlotte, North Carolina 28262-0675

The senior notes were offered and sold pursuant to an effective shelf
registration statement on Form S-3 previously filed with the Securities and
Exchange Commission. This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, nor shall there
be any sale of these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. The offering
may be made only by means of a prospectus and related prospectus supplement.

Plains All American Pipeline, L.P. is a publicly traded master limited
partnership engaged in the transportation, storage, terminalling and marketing
of crude oil, refined products and liquefied petroleum gas and other natural gas
related petroleum products. Through its 50% indirect ownership in PAA Natural
Gas Storage, LLC, the Partnership is also engaged in the development and
operation of natural gas storage facilities. The Partnership is headquartered in
Houston, Texas.

Plains All American Pipeline, L.P.
Manager, Investor Relations
Roy I. Lamoreaux, 713-646-4222 or 800-564-3036
or
Senior Vice President & CFO
Al Swanson, 713-646-4455 or 800-564-3036

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