Enterprise Announces Potential Combination Discussions

HOUSTON--(Business Wire)--
Enterprise Products Partners L.P. (NYSE:EPD) today announced that Enterprise has
proposed to acquire all of the outstanding partnership interests of TEPPCO
Partners L.P. (NYSE:TPP) ("TEPPCO"). The consideration proposed by Enterprise
included 1.043 Enterprise common units for each issued and outstanding TEPPCO
unit and cash equal to $1.00 per TEPPCO unit. Based on the current number of
outstanding TEPPCO units, this consideration for TEPPCO units would consist of
an aggregate of approximately 109.5 million Enterprise common units and $105
million in cash. This consideration would have represented $21.89 per unit, or a
premium of approximately 4.8%, based on the 10-day average closing prices of
TEPPCO units and Enterprise common units on March 6, 2009, the business day
prior to the date on which Enterprise made this proposal to TEPPCO.

Enterprise made the proposal after consultation with the Audit, Conflicts and
Governance Committee of the board of directors of its general partner. The
proposal made by Enterprise did not specify consideration to be paid for
TEPPCO`s general partner interests, including incentive distribution rights, or
other financial terms or consideration. Enterprise does not currently own any
TEPPCO units.

TEPPCO`s general partner interests, including incentive distribution rights, are
owned by Texas Eastern Products Pipeline Company, LLC ("TEPPCO GP"). TEPPCO GP
is owned by Enterprise GP Holdings, L.P. (NYSE:EPE) ("EPE"). EPE owns
approximately 4.2% of the outstanding units of TEPPCO, the general partner of
Enterprise and approximately 3.0% of the outstanding common units of Enterprise.
Accordingly, Enterprise expects definitive terms of any combination will require
the approval of the Audit, Conflicts and Governance Committees of the general
partners (the "ACG Committees") of Enterprise, TEPPCO and EPE. Enterprise cannot
predict whether the terms of a potential combination will be agreed upon
initially by the ACG Committees of the general partners of TEPPCO and
Enterprise, or whether any potential combination if agreed upon by Enterprise
and TEPPCO would be acceptable to the board of directors of EPE`s general
partner or its ACG Committee. Enterprise also believes that any combination with
TEPPCO would require the approval of TEPPCO`s unitholders in accordance with its
partnership agreement.

Enterprise does not intend to comment further on discussions unless and until a
definitive agreement is reached.

Enterprise is one of the largest publicly traded partnerships and is a leading
North American provider of midstream energy services to producers and consumers
of natural gas, NGLs, crude oil and petrochemicals. Enterprise transports
natural gas, NGLs, crude oil and petrochemicals through more than 36,000 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; offshore production platform services; and petrochemical
transportation and services. Additional information about the partnership is
available online at www.epplp.com. Enterprise is managed by its general partner,
Enterprise Products GP LLC, which is wholly owned by EPE. For more information
on EPE, visit www.enterprisegp.com.

TEPPCO is a publicly traded partnership that owns and operates an extensive
network of assets that facilitate the movement, marketing, gathering and storage
of various commodities and energy-related products. TEPPCO`s pipeline network is
comprised of approximately 12,500 miles of pipelines that gather and transport
refined petroleum products, crude oil, natural gas, liquefied petroleum gases
(LPGs), and natural gas liquids, including one of the largest common carrier
pipelines for refined petroleum products and LPGs in the United States. TEPPCO
also owns a marine business that transports refined petroleum products, crude
oil, asphalt, condensate, heavy fuel oil and other heated oil products via tow
boats and tank barges. In addition, TEPPCO owns interests in Seaway Crude
Pipeline Company, Centennial Pipeline LLC, Jonah Gas Gathering Company, and an
undivided ownership interest in the Basin Pipeline. For more information about
TEPPCO and its operations, visit www.teppco.com.

This news release includes forward-looking statements. 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 partnerships` expectations regarding the proposed combination with TEPPCO.
These risks and uncertainties could cause actual results to differ materially
from those expressed or implied by the forward-looking statement, and therefore
should be carefully considered.Relevant risks and uncertainties related to any
acquisition of TEPPCO by Enterprise include, among other things: whether or not
the respective Audit, Conflicts and Governance Committees of the general
partners of Enterprise and TEPPCO can agree on the terms of a business
combination, and whether or not other requisite partner approvals (including by
EPE) can be obtained; the proposed transaction may not be consummated; and any
benefits and synergies of the proposed transaction may not be realized.Other
risk and uncertainties regarding the business of Enterprise are discussed in
Enterprise Products Partners L.P.'s filings with the Securities and Exchange
Commission, including Item 1A "Risk Factors" of its most recent annual report on
Form 10-K and subsequent Form 10-Qs.If any of these risks or uncertainties
materializes, 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.

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

Copyright Business Wire 2009