Enterprise Announces Launch of Duncan Energy Partners L.P. IPO.

HOUSTON -- Enterprise Products Partners L.P. (NYSE:EPD) today announced that Duncan Energy Partners L.P. has commenced its initial public offering of common units which is expected to price during the week of January 29, 2007. Duncan Energy Partners is offering 13,000,000 common units (or 14,950,000 common units if the underwriters exercise their option to purchase additional common units in full) at a price between $19.00 and $21.00 per common unit. When issued, the common units will be listed on the New York Stock Exchange under the ticker symbol "DEP".

Lehman Brothers and UBS Investment Bank are serving as representatives and joint book-running managers in the IPO. 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 and may, from time to time, acquire interests in midstream assets from affiliates of Enterprise or, under certain circumstances, from third parties. Duncan Energy Partners will initially own 66% of the equity interests in subsidiaries that will be contributed to it by Enterprise, including subsidiaries holding the Acadian Gas, Sabine Propylene and Lou-Tex Propylene pipeline systems; the South Texas NGL pipeline system; and the Mont Belvieu NGL storage facilities. Together, these assets will include:

* 33 salt dome storage caverns in Mont Belvieu, Texas with the capacity to store approximately 100 million barrels of NGLs and petrochemicals;

* over 1,000 miles of Louisiana intrastate natural gas pipelines with an aggregate capacity of approximately one billion cubic feet per day;

* a 284-mile petrochemical pipeline system on the U.S. Gulf Coast that transports chemical-grade and polymer-grade propylene; and

* a 290-mile pipeline system that will transport NGLs produced in South Texas to Mont Belvieu.

Duncan Energy Partners will use the net proceeds from the offering to (1) distribute approximately $212.3 million, subject to adjustments, 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 IPO; and (3) pay other estimated net expenses associated with the IPO and related formation transactions. In addition, Duncan Energy Partners will borrow approximately $200 million under its $300 million credit agreement and distribute $198.9 million of these borrowings to an affiliate of Enterprise in partial consideration for the assets contributed to Duncan Energy Partners upon the closing of the IPO. If the underwriters exercise their option to purchase additional common units, Duncan Energy Partners will use all of the net proceeds from the sale of those common units to redeem an equal number of common units from an affiliate of Enterprise.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

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]).