Enterprise Announces Extension of Exchange Offer for 4.625% Series A Senior Notes Due 2009.

HOUSTON -- Enterprise Products Partners L.P. ("Enterprise") (NYSE:EPD) announced that its operating subsidiary, Enterprise Products Operating L.P. ("Enterprise Operating"), has extended to 5:00 p.m., Eastern Time, on March 7, 2005, its offer to exchange its 4.625% Series B Senior Notes due 2009, which have been registered under the Securities Act of 1933, for any and all of its corresponding, outstanding Series A Senior Notes that were issued on October 4, 2004 in a private offering. The exchange offer was scheduled to expire today at 5:00 p.m., New York City time. Notes in the aggregate principal amount of approximately $492.7 million of the $500 million in principal outstanding had been tendered by 5:00 p.m., New York City time, today.

This press release shall not constitute an offer to purchase or exchange nor the solicitation of an offer to exchange any securities. The exchange offer is being made solely by a prospectus dated January 24, 2005, of Enterprise Products Operating L.P., including any supplements thereto, and is subject to certain conditions specified therein.

For more information, contact the Exchange Agent, Wells Fargo Bank, National Association, Corporate Trust Administration, 505 Main St., Suite 301, Fort Worth, Texas 76102, Attention: Bondholder Communications (Facsimile: 817-885-8650; Telephone: [phone]).

Holders of notes who do not tender before 5:00 p.m., Eastern Time, on March 7, 2005, will continue to hold unregistered securities and will have no right to compel the registration of their notes under the Securities Act of 1933.

Enterprise also announced that it has successfully completed its separate offers to exchange all $500 million principal amount of its 4.000% Series B Senior Notes due 2007 for its 4.000% Series A Senior Notes due 2007; all $650 million principal amount of its 5.600% Series B Senior Notes due 2014 for its 5.600% Series A Senior Notes due 2014; and all $350 million principal amount of its 6.650% Series B Senior Notes due 2034 for its 6.650% Series A Senior Notes due 2034.

The form and terms of the Series B exchange notes issued today are substantially the same as the form and terms of the Series A notes issued on October 4, 2004. The primary difference is that the Series B exchange notes have been registered under the Securities Act of 1933, and, therefore, will not bear legends restricting their transfer. The Series B exchange notes evidence the same debt as the original notes they replace, and are issued under and entitled to the benefits of the indenture that governs the original notes.

Enterprise Products Partners L.P. is one of the largest publicly traded energy partnerships with an enterprise value of more than $14 billion, and is a leading North American provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs) and crude oil. Enterprise transports natural gas, NGLs and crude oil through 31,000 miles of onshore and offshore pipelines and is an industry leader in the development of midstream infrastructure in the Deepwater Trend of the Gulf of Mexico. Services include natural gas transportation, gathering, processing and storage; NGL and propylene fractionation (or separation), transportation, storage, and import and export terminaling; crude oil transportation and offshore production platform services. For more information, visit Enterprise on the web at www.epplp.com.

This press release contains various forward-looking statements and information that are based on Enterprise's beliefs and those of its general partner, as well as assumptions made by and information currently available to Enterprise. 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 Enterprise for future operations, are intended to identify forward-looking statements. Although Enterprise and its general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither Enterprise 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, Enterprise's actual results may vary materially from those Enterprise anticipated, estimated, projected or expected. Among the key risk factors that may have a direct bearing on Enterprise'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;

--the effects of the combined company's debt level on its future financial and operating flexibility;

--a reduction in demand for its products by the petrochemical, refining or heating industries;

--a decline in the volumes of NGLs delivered by its facilities;

--the failure of its credit risk management efforts to adequately protect it against customer non-payment;

--terrorist attacks aimed at its facilities;

--the failure to successfully integrate our operations with those of GulfTerra Energy Partners, L.P. or any other companies we acquire; and

--the failure to realize the anticipated cost savings, synergies and other benefits of the merger with GulfTerra.

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