News Release
July 26, 2002

TEPPCO PARTNERS, L.P. NAMES R.A. WALKER TO BOARD OF DIRECTORS

HOUSTON – Texas Eastern Products Pipeline Company, LLC (TEPPCO), general partner of TEPPCO Partners, L.P. (NYSE:TPP), today announced the election of R.A. (Al) Walker to the board of directors. He succeeds Carl D. Clay, who retired from the board July 25, 2002, after seven years of service.

 

“On behalf of the unitholders and employees of TEPPCO, I want to thank Carl Clay for his outstanding years of advice and counsel as a member of TEPPCO’s board of directors,” said Jim W. Mogg, chairman, president and chief executive officer of Duke Energy Field Services and chairman of the general partner of TEPPCO. “We wish Carl and his family all the best in the coming years.”

 

Walker, 45, is president and chief financial officer for 3TEC Energy Corporation, a publicly held independent oil and gas company based in Houston. Prior to joining 3TEC in 2000, Walker was senior managing director and co-head of Prudential Capital Group, a division of The Prudential Insurance Company of America. Walker received a bachelor of science degree in business administration and a masters in business administration from the University of Tulsa.

 

Walker has previously served on a number of other boards, including:   Ocean Energy Inc., Maxus Energy Corporation, Seagull Energy Corporation, Global Natural Resources, Coca-Cola Southwest and the Advisory Committee of the New York Mercantile Exchange.

 

  “Al Walker brings a wealth of relevant experience to TEPPCO’s board of directors,” said Mogg. “His extensive knowledge of both financial markets and the energy industry will be a real asset to our board as we endeavor to provide consistent, attractive returns to our unitholders.”

 

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 petrochemical and natural gas liquids pipelines; is engaged in crude oil transportation, storage, gathering and marketing; owns and operates natural gas gathering systems; and owns a 50-percent interest in Seaway Crude Pipeline Company, an interest in Centennial Pipeline LLC, 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 Web site at www.teppco.com.

 

Contact: Kathleen A. Sauve -- Media Relations
Phone: 713/759-3635
24 Hour Phone: 704/382-8333
Email: ksauve@teppco.com
Contact: Brenda J. Peters -- Investor Relations
Phone: 713/759-3954, Toll free: 800/659-0059
24 Hour Phone: n/a
Email: bpeters@teppco.com