News Release
Feb. 15, 2000

TEPPCO AND LOUIS DREYFUS CREATE STRATEGIC ALLIANCE

HOUSTON – TEPPCO Partners, L.P., (NYSE:TPP) and Louis Dreyfus Plastics Corporation today announced a joint development alliance that will use TEPPCO’s Mont Belvieu, Texas, storage and shuttle system assets and Louis Dreyfus’ marketing expertise to provide new and expanded services to the marketplace. The alliance will be a service-oriented, fee-based venture with no commodity trading.

Specifically, TEPPCO’s Mont Belvieu petroleum liquids storage and transportation shuttle system assets will be marketed by Louis Dreyfus Plastics to create new services for the upper Texas Gulf Coast energy marketplace as well as expand upon services already offered. TEPPCO’s Mont Belvieu assets include 23 underground wells capable of storing approximately 34 million barrels of liquefied petroleum gases and a pipeline system that interconnects virtually every refinery and petrochemical facility along the upper Texas Gulf Coast.

"This new endeavor will increase the productivity of the assets at Mont Belvieu, which will benefit both companies," said William L. Thacker, chairman, president, and chief executive officer of the general partner of TEPPCO. "We’ll be able to better support our customers by expanding the range of services currently offered."

"We are excited about the opportunities presented by the combination of TEPPCO’s world-class asset base with our NGL and petrochemical risk management and marketing expertise," said Timothy J. Stuart, president of Louis Dreyfus Plastics. "This alliance will immediately be one of the leading, full-range providers of supply and distribution services to the oil and chemical industries on the Gulf Coast."

TEPPCO Partners, L.P., is a publicly owned master limited partnership, which conducts business through two operating companies. TE Products Pipeline Company, Limited Partnership, is one of the largest common carrier pipelines of refined petroleum products and liquefied petroleum gases in the United States. TEPPCO Crude Oil, LLC, is a crude oil gathering, transportation, storage and marketing company operating primarily in Texas and Oklahoma. Texas Eastern Products Pipeline Company, which is an indirect wholly owned subsidiary of Duke Energy, is the general partner of TEPPCO Partners, L.P.

Louis Dreyfus Plastics Corporation, Wilton, Conn., is a member of the Louis Dreyfus Group, a privately owned commodities processing, merchandising and trading family of companies. Louis Dreyfus Group, which was founded 150 years ago, operates in over 30 countries in the agricultural, energy, shipping, telecommunications and real estate industries. Consolidated average gross sales for the Group in recent years has exceeded $18 billion.

Contact: Kathleen A. Sauvé
Phone: 713-759-3635
24 Hour Phone: 704-382-8333
Email: ksauve@duke-energy.com
Contact: Brenda J. Peters
Phone: 713-759-3954
24 Hour Phone: 704-382-8333
Email: media_relations@duke-energy.com
Contact: Leslie Gennarini (Louis Dreyfus Plastics))
Phone: 203/761-8026
24 Hour Phone: 704-382-8333
Email: media _relations@duke-energy.com