News Release
July 16, 2004

TEPPCO PARTNERS, L.P. DECLARES SECOND QUARTER 2004 DISTRIBUTION

HOUSTON – TEPPCO Partners, L.P. (NYSE:TPP) today declared a second quarter cash distribution of $0.6625 per unit, payable Aug. 6, 2004, to unitholders of record on July 30, 2004. This distribution covers the period from April 1, 2004, through June 30, 2004.

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.

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: Investor Relations -- Brenda J. Peters
Phone: 713/759-3954, toll-free: 800/659-0059
24-Hour Phone: n/a
e-mail: bjpeters@teppco.com
Contact: Media Relations -- Kathleen A. Sauve
Phone: 713/759-3635
24-Hour Phone: 704/382-8333
e-mail: kasauve@teppco.com