Enterprise's Debt Ratings Outlook Revised.

Energy Editors/Business Editors

HOUSTON--(BUSINESS WIRE)--June 9, 2003

Enterprise Products Partners L.P. (NYSE:EPD) today announced that Moody's Investors Service has changed the rating outlook to "stable" from "negative" on the debt securities of Enterprise Products Operating L.P., its operating subsidiary. The change in outlook follows the Company's successful completion of its most recent public offering of 11,960,000 common units in May 2003, raising $261.2 million. Moody's existing investment-grade rating of Baa2 for Enterprise debt securities was not affected.

Since the $1.2 billion acquisition of the Mid-America and Seminole Pipelines in July 2002, Enterprise has raised approximately $700 million through new equity offerings, completed the permanent financing of the acquisition earlier than originally budgeted and has lowered its percentage of debt-to-total capitalization to 49.7%. According to Moody's, the stable outlook reflects: (i) Enterprise's reduced leverage and improved financial flexibility, (ii) its improved operational performance with the acquisition of the Mid-America and Seminole Pipeline systems, (iii) the increased percentage of gross margin derived from its fee-based businesses, (iv) reduced earnings volatility from the Company's processing business as a result of management renegotiating its gas processing contracts, (v) and management's continued commitment to a conservative cash distribution policy going forward.

Enterprise Products Partners L.P. is the second largest publicly traded, midstream energy partnership with an enterprise value of approximately $6.5 billion. Enterprise is a leading provider of midstream energy services to producers and consumers of natural gas and natural gas liquids ("NGLs"). The Company's services include natural gas transportation, processing and storage and NGL fractionation (or separation), transportation, storage and import/export terminaling.

This press release contains various forward-looking statements and information that are based on the Company's beliefs and those of its general partner, as well as assumptions made by and information currently available to the Company. When used in this press release, words such as "anticipate," "project," "expect," "plan," "goal," "forecast," "intend," "could," "believe," "may," and similar expressions and statements regarding the plans and objectives of the Company for future operations, are intended to identify forward-looking statements.

Although the Company and its general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither the Company nor its general partner can give assurances that such expectations will prove to be correct. Such statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, the Company's actual results may vary materially from those the Company anticipated, estimated, projected or expected. Among the key risk factors that may have a direct bearing on the Company's results of operations and financial condition are:

-- fluctuations in oil, natural gas and NGL prices and production

due to weather and other natural and economic forces;

-- a reduction in demand for the Company's products by the

petrochemical, refining or heating industries;

-- a decline in the volumes of NGLs delivered by the Company's

facilities;

-- the failure of the Company's credit risk management efforts to

adequately protect it against customer non-payment;

-- the failure to successfully integrate new acquisitions; and

-- terrorist attacks aimed at the Company's facilities.

The Company has no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.