News Release
March 27, 2003

TEPPCO PARTNERS, L.P. DECLARES INCREASE IN DISTRIBUTION

HOUSTON – TEPPCO Partners, L.P. (NYSE:TPP) today announced that it will increase its quarterly distribution to $0.625 per unit from $0.60 per unit. The distribution is payable May 9, 2003, to unitholders of record on April 30, 2003. This distribution covers the period from Jan. 1, 2003, through March 31, 2003. The increase raises TEPPCO’s distribution to $2.50 per unit on an annualized basis.

 

“This distribution increase, which reflects our expectations for solid operating results from each of the partnership’s business segments, continues our 10-year track record of distribution growth,” said Barry R. Pearl, president and chief executive officer of the general partner of TEPPCO.

 

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, a 50-percent interest in Centennial Pipeline LLC, and an undivided ownership interest in the Basin Pipeline. 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.

 

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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, toll-free: 800/659-0059
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