News Release
Nov. 20, 2000

TEPPCO TO ACQUIRE $91 MILLION IN PIPELINE ASSETS FROM DUKE ENERGY FIELD SERVICES

HOUSTON – TEPPCO Partners, L.P. (NYSE:TPP) today announced that TEPPCO Crude Pipeline, L.P., will acquire $91 million in pipeline assets from Duke Energy Field Services, LP (DEFS).

Annual revenues are estimated to be approximately $15 million and earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to be approximately $13 million. The transaction will be accretive $0.03 to $0.04 per unit to cash flow in 2001.

The assets include two natural gas liquids (NGL) pipelines in East Texas. The Panola Pipeline, a 189-mile NGL pipeline from Carthage, Texas, to Mont Belvieu, Texas, has a capacity of 38,000 barrels per day. The San Jacinto Pipeline, a 34-mile NGL pipeline from Carthage to Longview, Texas, has a capacity of approximately 11,000 barrels per day. TEPPCO will also assume the lease of a 34-mile condensate pipeline from DEFS that runs from Carthage to Marshall, Texas. All three pipelines originate at DEFS’ East Texas Plant Complex in Panola County. The transaction is expected to close by December 31, subject to regulatory approval.

"The acquisition is a positive move for both TEPPCO and DEFS and is consistent with our strategy to bring value to our unitholders through aggressive growth," said William L. Thacker, chairman, president and chief executive officer of the general partner of TEPPCO. "This project brings our total acquisitions in 2000 to slightly more than $400 million."

TEPPCO Partners, L.P. is a publicly traded master limited partnership, 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; is engaged in crude oil gathering, transportation, storage and marketing; and owns a 50-percent interest in Seaway Crude Pipeline Company and an undivided ownership interest in the Rancho and Basin Pipelines. Texas Eastern Products Pipeline Company, LLC, an indirect wholly owned subsidiary of Duke Energy Field Services, LP, is the general partner of TEPPCO Partners, L.P. For more information, access TEPPCO’s website at www.teppco.com.

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties. These risks and uncertainties include, among other things, market conditions, governmental regulations and other factors discussed in TEPPCO’s filings with the Securities and Exchange Commission.

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