News Release
March 31, 1998

TEPPCO PURCHASES FRACTIONATORS IN WELD COUNTY, COLORADO

TEPPCO Partners, L.P. (NYSE: TPP), today announced the purchase through its operating company, TEPPCO Colorado, LLC, of two fractionators from Duke Energy Field Services, Inc., a subsidiary of Duke Energy Corporation.

Subject to regulatory approval, TEPPCO will own the Greeley and Spindle fractionation facilities located in Weld County, Colorado. The parties will also be entering into a 20-year fractionation agreement and related service agreements.

"These assets generate a new stream of income for TEPPCO which is accretive to our unitholders," said William L. Thacker, TEPPCO’s chairman, president and chief executive officer. "TEPPCO will be processing natural gas liquids for a fee and will be in position to increase revenue as liquids production in the are grows."

TEPPCO Partners, L.P. is a publicly owned master limited partnership. TE Products Pipeline Company, Limited Partnership, the operating partnership, is one of one of the largest common carrier pipelines of refined petroleum products and liquefied petroleum gases in the United States.

Contact: Eric W. Thode
Phone: 713 759-3635
24 Hour Phone: 704 382-8333
Email: media_relations@duke-energy.com