Duncan Energy Partners L.P. Prices Initial Public Offering.

HOUSTON -- Duncan Energy Partners L.P. (NYSE:DEP) announced today that it has priced its initial public offering of 13,000,000 common units at $21.00 per unit. The units will begin trading January 31, 2007, on the New York Stock Exchange under the symbol "DEP." The underwriters were granted a 30-day option to purchase up to 1,950,000 additional common units.

Lehman Brothers and UBS Investment Bank are serving as representatives and joint book-running managers in the IPO. In addition, Citigroup, Goldman, Sachs & Co., Morgan Stanley, Wachovia Securities, A.G. Edwards, J.P. Morgan Securities, Merrill Lynch, Raymond James, RBC Capital Markets, Sanders Morris Harris Inc., Scotia Capital, Natexis Bleichroeder Inc., and Banc of America Securities LLC are serving as co-managers in the offering.

Duncan Energy Partners has been formed to own interests in certain midstream assets of Enterprise Products Partners L.P. (NYSE:EPD) and may, from time to time, acquire interests in midstream energy assets from affiliates of Enterprise or, under certain circumstances, from third parties. Duncan Energy Partners will own 66% of the equity interests in subsidiaries that will be contributed to it by Enterprise, including subsidiaries holding the Acadian Gas System; the Sabine Propylene and Lou-Tex Propylene pipeline systems; the South Texas NGL pipeline system; and Enterprise's Mont Belvieu NGL storage facilities.

Duncan Energy Partners will use the net proceeds from the offering to (1) distribute approximately $225 million to an affiliate of Enterprise as a portion of the cash consideration and reimbursement for capital expenditures relating to the assets contributed to Duncan Energy Partners; (2) provide Duncan Energy Partners with capital to fund its share of estimated capital expenditures required to complete planned expansions to specified projects subsequent to the closing of the initial public offering; and (3) pay other estimated net expenses associated with the initial public offering and related formation transactions. If the underwriters exercise their option to purchase additional common units, Duncan Energy Partners will use net proceeds from the sale of those common units to redeem an equal number of common units from an affiliate of Enterprise.

In addition, Duncan Energy Partners will borrow approximately $200 million under its $300 million credit agreement and distribute these borrowings to an affiliate of Enterprise as part of the total consideration for the assets contributed to Duncan Energy Partners upon the closing of the IPO.

A written prospectus for the offering may be obtained from: Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717 (Email: [e-mail]) (Fax: [phone]); or UBS Investment Bank, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Department (Telephone: [phone]).

Duncan Energy Partners L.P. is a publicly traded energy partnership that provides midstream energy services, including gathering, transportation, marketing and storage of natural gas, in addition to transportation and storage of natural gas liquids (NGLs) and petrochemicals. DEP's assets, which are located primarily in the Gulf Coast region of Texas and Louisiana, include interests in more than 1,000 miles of natural gas pipelines with a transportation capacity of approximately 1 billion cubic feet per day; nearly 600 miles of NGL and petrochemical pipelines featuring access to the world's largest fractionation complex at Mont Belvieu, Texas; and 33 underground salt dome caverns with about 100 million barrels of NGL storage capacity.