Enterprise's Partners Approve Proposal.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--June 12, 2000 Enterprise Products Partners L.P. (NYSE NYSE See: New York Stock Exchange :EPD EPD expected progeny difference. ) announced today that its public partners have overwhelmingly approved an amendment to the Partnership agreement in a vote that was finalized at a special meeting of the company's public common unitholders that was held on June 9, 2000 in Houston. Under the terms of the amendment, the number of additional common units that may be issued for any partnership purpose without obtaining further approval of the public partners was increased from 22,775,000 units to 47,775,000 units. Of the 22,775,000 original units, up to 20,500,000 units have been reserved for the conversion of special units and contingency units that have been or may be issued to Coral Energy, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control in connection with Enterprise's acquisition of Tejas Natural Gas Liquids, LLC in September 1999. Enterprise Products Partners L.P. is the second largest publicly traded master limited partnership with an enterprise value of approximately $2.1 billion. Enterprise is a leading integrated provider of processing, fractionation fractionation /frac·tion·a·tion/ (frak?shun-a´shun) 1. in radiology, division of the total dose of radiation into small doses administered at intervals. 2. , storage, transportation and terminaling services to producers and consumers of natural gas liquids ("NGLs") and other liquid hydrocarbons. The Company's assets are geographically focused on the United States' Gulf Coast, which accounts for approximately 55 percent of domestic NGL NGL - A dialect of IGL. production and 75 percent of domestic NGL demand. This press release includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 21E of the Securities Exchange Act of 1934 based on the beliefs of the company, as well as assumptions made by, and information currently available to, management. Although Enterprise believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. |
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