News Release
Jan. 27, 2003

TEPPCO PARTNERS, L.P. ANNOUNCES SENIOR NOTE OFFERING

HOUSTON – TEPPCO Partners, L.P. (NYSE: TPP) announced today that it has priced $200 million of 6.125 percent 10-year senior unsecured notes in a registered offering. The offering is being managed by Wachovia Securities, Inc. and Banc One Capital Markets as joint lead manager and joint book runner. Co-managing underwriters are BNP PARIBAS, Scotia Capital, SunTrust Robinson Humphrey and UBS Warburg.

               

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 liquid 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.

 

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. When available, copies of the preliminary prospectus may be obtained from Wachovia Securities, Inc., Charlotte, N.C., or Banc One Capital Markets, Chicago, Ill.

 

Contact: Brenda J. Peters -- Investor Relations
Phone: 713/759-3954
24 Hour Phone: n/a
Email: bjpeters@teppco.com
Contact: Kathleen A. Sauve -- Media Relations
Phone: 713/759-3635
24 Hour Phone: 704/382-8333
Email: kasauve@teppco.com