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TEPPCO PARTNERS L.P. TO PURCHASE CRUDE SUPPLY AND TRANSPORTATION ASSETS IN TEXASHOUSTON – Texas Eastern Products Pipeline Company LLC, the general partner of TEPPCO Partners L.P. (NYSE:TPP) today announced that it has signed a definitive agreement to acquire crude supply and transportation assets along the upper Texas Gulf Coast from Genesis Crude Oil L.P. and Genesis Pipeline Texas L.P. The transaction is valued at approximately $21 million and is expected to close in November 2003. TEPPCO will acquire and operate approximately 150 miles of small diameter trunk lines, 24,000 barrels-per-day of throughput and 12,000 barrels-per-day of lease marketing and trucking business. The acquisition will enable future growth in TEPPCO’s existing businesses by providing new market opportunities and increased capacity. The partnership will integrate the assets into its 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 50-percent interests in Seaway Crude Pipeline Company, Centennial Pipeline LLC and Mont Belvieu Storage Partners L.P., 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.
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