Enterprise Completes Acquisition of NGL Export Terminal.

Energy Editors/Business Editors

HOUSTON--(BUSINESS WIRE)--March 3, 2003

Enterprise Products Partners L.P. (NYSE:EPD) announced that its operating subsidiary, Enterprise Products Operating L.P., has completed the acquisition of 50% of the EPIK natural gas liquid (NGL) export terminal from Idemitsu LPG USA Corporation for $19 million. Enterprise now owns 100% of this export terminal.

The EPIK NGL export terminal serves world-scale NGL tankers through its deepwater berth on the Houston Ship Channel. The terminal has the capacity to load refrigerated propane and butane at rates of up to 5,000 barrels per hour, which are the highest loading rates for any NGL export terminal in the United States. The terminal is connected through Enterprise-owned pipelines to the company's fractionation and storage complex in Mont Belvieu, Texas.

"I am pleased to announce this purchase of the remaining interest in the EPIK NGL export terminal," said O.S. "Dub" Andras, president and chief executive officer. "We developed, designed and constructed the facility in 1999 and have been the commercial and physical operator from its inception. This facility gives NGL producers in North America access to international NGL markets and maximizes the value of their production. This purchase is expected to be accretive in terms of cash flow to our limited partners," continued Andras.

Enterprise Products Partners L.P. is the second largest publicly traded, midstream energy partnership with an enterprise value of approximately $6 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:

-- Competitive practices in the industries in which the Company competes;

-- Fluctuations in oil, natural gas and NGL prices and production due to weather and other natural and economic forces;

-- Operational and systems risks;

-- Environmental liabilities that are not covered by indemnity or insurance;

-- The impact of current and future laws and governmental regulations (including environmental regulations) affecting the midstream energy industry in general and the Company's NGL and natural gas operations in particular;

-- The loss of a significant customer;

-- The use of financial instruments to hedge commodity and other risks that prove to be economically ineffective; and

-- Failure to complete one or more new projects on time or within budget.

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.