News Release
Oct. 20, 2000

TEPPCO PARTNERS, L.P. ANNOUNCES SALE OF 3.7 MILLION UNITS

HOUSTON - TEPPCO Partners, L.P. (NYSE:TPP) today announced that it has priced 3.7 million units representing limited partner interests at $25.0625 per unit. The offering is being managed by PaineWebber Incorporated, Goldman, Sachs & Co. and Salomon Smith Barney, and is scheduled to close on Oct. 25, 2000.

The net proceeds from the offering of approximately $88.5 million will be used to reduce $75 million of a term loan with the balance to be used to repay $13 million outstanding under a revolving credit facility. Both the term loan and revolving credit facility were used to finance the acquisition of the assets of ARCO Pipe Line Company in July 2000.

TEPPCO has also granted the underwriters an option to purchase up to an additional 555,000 units to cover over-allotments at the initial price to the public less the underwriting discount. The offering brings the total number of units outstanding to 32.7 million.

Copies of the final prospectus relating to this offering may be obtained from the offices of PaineWebber Incorporated, 1285 Avenue of the Americas, New York, N.Y., 10019.

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, is the general partner of TEPPCO Partners, L.P. For more information, access TEPPCO’s website at www.teppco.com.

Contact: Brenda J. Peters
Phone: 713/759-3954
24 Hour Phone: 704/382-8333
Email: media_relations@duke-energy.com
Contact: Kathleen A. Sauvé
Phone: 713/759-3635
24 Hour Phone: 704/382-8333
Email: ksauve@duke-energy.com