Crosstex to Sell Mississippi, Alabama and South Texas Assets for $220 Million

Sale Supports Strategy to Increase Liquidity, Reduce Debt and Improve
Profitability
DALLAS--(Business Wire)--
Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) announced today that it
has entered into a definitive agreement to sell its assets in Mississippi,
Alabama and South Texas for $220 million to Southcross Energy, LLC, a
Dallas-based natural gas transportation and processing company. Proceeds from
the sale will be used to pay down more than $200 million of the Partnership`s
outstanding debt, which will satisfy the targets for debt reductions in
September 2009 and December 2009 established in the Partnership`s recent
amendments to its debt facilities. The Partnership expects the sale to close on
July 31, 2009. Closing is contingent on the approval of the lenders under the
Partnership`s revolving credit and senior note agreements and certain other
conditions.

"The sale of our Mississippi, Alabama and South Texas assets enables us to
strengthen our balance sheet as we pursue our strategy to increase liquidity,
reduce leverage and improve profitability," said Barry E. Davis, Crosstex
President and Chief Executive Officer. "As we have said, asset sales are an
important part of our deleveraging initiatives, and we will explore strategic
transactions on an ongoing basis that we believe are in the best interests of
the company and our stakeholders. We continue to focus on the growth of our
strategic assets in North Texas and Louisiana, as well as our Treating business,
and remain committed to being a premier provider of midstream energy services."

"These are perfect assets to provide the foundation of our new company," said
David Biegler, Chairman and Chief Executive Officer of Southcross Energy. "This
is a well-balanced portfolio across a broad range of assets that also provides
strong organic, as well as acquisition, growth prospects."

The Mississippi and Alabama systems consist of approximately 780 miles of
intrastate gathering and transmission pipelines with throughput capacity of
about 185,000 million British thermal units per day (MMBtu/d). The South Texas
system consists of approximately 1,400 miles of intrastate gathering and
transmission pipelines with throughput capacity of about 600,000 MMBtu/d and two
processing facilities with a total processing capacity of approximately 195,000
MMBtu/d. These three systems generated gross margin of $12 million and operating
expenses of $4 million for the first quarter of 2009.

Goldman, Sachs & Co. is serving as the exclusive financial advisor to Crosstex
in connection with the transaction.

About the Crosstex Energy Companies

Crosstex Energy, L.P., a midstream natural gas company headquartered in Dallas,
operates approximately 5,700 miles of pipeline, 12 processing plants, four
fractionators, and approximately 190 natural gas amine-treating plants and
dew-point control plants. Crosstex currently provides services for 4.0 billion
cubic feet per day of natural gas, or approximately eight percent of marketed
U.S. daily production.

Crosstex Energy, Inc. (NASDAQ:XTXI) (the Corporation) owns the two percent
general partner interest, a 33 percent limited partner interest and the
incentive distribution rights of Crosstex Energy, L.P.

Additional information about the Crosstex companies can be found at
www.crosstexenergy.com.

About Southcross Energy, LLC

Southcross Energy, LLC, headquartered in Dallas, Texas, is a newly formed
midstream natural gas company. It was established with the management team of
Estrella Energy, L.P. and an investment group led by Charlesbank Capital
Partners and including a subsidiary of Hunt Power, L.P., an entity controlled by
the family of Ray L.Hunt. For additional information about Southcross Energy,
LLC, contact Richard Lemmon at 214-393-7506 or email at
r.lemmon@estrellaenergy.com.

About Charlesbank Capital Partners

Charlesbank Capital Partners is a middle-market private equity investment firm
managing more than $1.5 billion of capital. Charlesbank focuses on
management-led buyouts and growth capital financings, typically investing $25
million to $100 million per transaction in companies with enterprise values of
$50 million to $750 million. The firm seeks to partner with strong management
teams to build companies with sustainable competitive advantages and excellent
prospects for growth. For more information, visit www.charlesbank.com.

This press release contains forward-looking statements within the meaning of the
federal securities laws. These statements are based on certain assumptions made
by the Partnership and the Corporation based upon management's experience and
perception of historical trends, current conditions, expected future
developments and other factors the Partnership and the Corporation believe are
appropriate in the circumstances. These statements include, but are not limited
to, statements with respect to the expected closing of the sale of the
Partnership`s assets in Mississippi, Alabama and South Texas and the effect of
such sale on the Partnership`s future liquidity, leverage and profitability.
Such statements are subject to a number of assumptions, risks and uncertainties,
many of which are beyond the control of the Partnership and the Corporation,
which may cause the Partnership's and the Corporation's actual results to differ
materially from those implied or expressed by the forward-looking statements.
These risks include, but are not limited to, risks discussed in the
Partnership's and the Corporation's filings with the Securities and Exchange
Commission and, with respect to the sale transaction, risks related to the
satisfaction of the various conditions to closing, including approval of the
transaction by various third parties and regulatory authorities. The Partnership
and the Corporation have no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
events, or otherwise.

Crosstex Energy, L.P.
Jill McMillan, 214-721-9271
Manager, Public & Industry Affairs
Jill.McMillan@CrosstexEnergy.com

Copyright Business Wire 2009