TEPPCO Prices $1 Billion of Senior Notes

HOUSTON--(Business Wire)--
TEPPCO Partners, L.P. (NYSE:TPP) today announced that the
partnership has priced a public offering of $250 million in principal
amount of senior notes due 2013, $350 million in principal amount of
senior notes due 2018 and $400 million in principal amount of senior
notes due 2038. The proceeds from the offering will be applied to the
repayment and cancellation of the partnership's 364-day term credit
facility that was set to mature in December 2008.

The notes due 2013 will be issued at 99.922 percent of their
principal amount and will have a fixed-rate interest coupon of 5.90
percent and a maturity date of April 15, 2013. The notes due 2018 will
be issued at 99.640 percent of their principal amount and will have a
fixed-rate interest coupon of 6.65 percent and a maturity date of
April 15, 2018. The notes due 2038 will be issued at 99.451 percent of
their principal amount and will have a fixed-rate interest coupon of
7.55 percent and a maturity date of April 15, 2038. The settlement
date for the offering is expected to be March 27, 2008.

UBS Securities LLC, JPMorgan Securities Inc., SunTrust Robinson
Humphrey, Inc. and Wachovia Capital Markets, LLC acted as joint
book-running managers for the offering. The co-managing underwriters
for the offering were BNP Paribas Securities Corp., Citigroup Global
Markets Inc., Greenwich Capital Markets, Inc., KeyBanc Capital Markets
Inc., Wedbush Morgan Securities Inc. and Wells Fargo Securities, LLC.
An investor may obtain a free copy of the prospectus as supplemented
by visiting EDGAR on the SEC website at www.sec.gov. Alternatively,
the Issuer, any underwriter or any dealer participating in this
offering will arrange to send a prospectus to an investor if requested
by calling UBS Securities LLC at (877) 827-6444 extension 5613884,
JPMorgan Securities Inc. at (212) 834-4533, SunTrust Robinson
Humphrey, Inc. at (800) 685-4786 or Wachovia Capital Markets, LLC at
(800) 326-5897.

This press release does not constitute an offer to sell or a
solicitation of an offer to buy the senior notes described in this
press release, nor shall there be any sale of these senior notes in
any state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to qualification under the securities laws of
any such jurisdiction. The offer is being made only through the
prospectus as supplemented, which is part of a shelf registration
statement.

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; owns and
operates a marine transportation business for refined products, crude
oil and lube products; 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, the general partner of TEPPCO
Partners, L.P., is owned by Enterprise GP Holdings L.P. (NYSE:EPE).

TEPPCO Partners, L.P.
Investor Relations:
Mark G. Stockard, 713-381-4707
Toll Free: 800-659-0059
or
Media Relations:
Rick Rainey, 713-381-3635

Copyright Business Wire 2008