News Release
Sept. 24, 2001

TEPPCO PARTNERS REITERATES STABILITY OF UNDERLYING BUSINESS

HOUSTON – TEPPCO Partners, L.P. (NYSE:TPP), owner and operator of one of the nation’s largest refined products pipelines, today reiterated the stability of its underlying business despite a probable decline in jet fuel volume as a result of flight reductions by the airline industry.

"TEPPCO anticipates lower jet fuel volume over the next few months," said William L. Thacker, chairman and chief executive officer of the general partner of TEPPCO. "However, we are confident that most of the decline will be replaced by other products as a result of decreased refinery supply in the Midwest, and therefore we see little overall impact on our refined products business. TEPPCO’s refined product system continues to run near capacity."

"In addition, the Organization of Petroleum Exporting Countries (OPEC) has stated that it will take measures to ensure market stability, which should minimize impact on crude oil margins, thus limiting the effect on TEPPCO’s upstream business," continued Thacker.

The company anticipates that the recently announced acquisition of the Jonah Gas Gathering System and strong liquefied petroleum gas movements on its existing system should contribute to a solid fourth quarter.

"As stated in our news release of Sept. 10, TEPPCO intends to increase the distribution by at least $0.15 per unit on an annualized basis in October, and we believe that the partnership will beat current consensus earnings estimates of $0.34 per unit and $1.89 per unit, respectively, for third quarter and year-end 2001," said Thacker.

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; owns and operates natural gas liquid pipelines; is engaged in crude oil transportation, storage, gathering 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, LLC, is the general partner of TEPPCO Partners, L.P. For more information, visit 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 factors discussed in TEPPCO Partners, L.P. filings with the Securities and Exchange Commission.

Contact: Brenda J. Peters, Investor Relations
Phone: 713/759-3954
24 Hour Phone: n/a
Email: bpeters@TEPPCO.com
Contact: Kathleen A. Sauve, Media Relations
Phone: 713/759-3635
24 Hour Phone: 800/618-4370
Email: ksauve@TEPPCO.com