News Release
May 18, 1999

TEPPCO RECEIVES PROJECT FINANCING

HOUSTON, May 18 -- TE Products Pipeline Company, Limited Partnership (TEPPCO) today announced receiving financing of up to $75 million for use in funding the construction of three new pipelines between the partnership’s terminal in Mont Belvieu, Texas, and Port Arthur, Texas.

The previously announced project includes three new 12-inch diameter common-carrier pipelines and associated facilities. Each pipeline will be approximately 70 miles in length. Upon completion, the new pipelines will transport ethylene, propylene and natural gasoline.

The five-year term loan provides project financing of up to $75 million beginning May 17, 1999, and terminates on May 17, 2004. TEPPCO will only pay interest until April 2001, with quarterly principal repayments beginning June 2001.

TE Products Pipeline Company, Limited Partnership, one of the two operating partnerships of TEPPCO Partners, L.P., which is a publicly traded master limited partnership, is 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) 759-3954
24 Hour Phone: (704) 382-8333
Email: media_relations@duke-energy.com
Contact: Brenda J. Peters
Phone: (713) 759-3954
24 Hour Phone: (704) 382-8333
Email: media_relations@duke-energy.com