Enterprise Declares Quarterly Cash Distribution to Partners; Invites Investors to Fourth Quarter 2002 Conference Call.

Business/Energy Editors

HOUSTON--(BUSINESS WIRE)--Jan. 13, 2003

Enterprise Products Partners L.P. (NYSE:EPD) declared its quarterly cash distribution of $0.345 per common and subordinated partnership unit ($1.38 per unit on an annualized basis). The distribution will be paid on Feb. 12, 2003 to unitholders of record at the close of business on Jan. 31, 2003.

Enterprise will announce its earnings for the fourth quarter of 2002 on Monday, Feb. 3, 2003 before the New York Stock Exchange opens. Following the announcement, the company will host a conference call to discuss fourth quarter earnings at 9:00 a.m. Central Time. The call will be broadcast live over the Internet and may be accessed at the company's Web site, http://www.epplp.com. O.S. "Dub" Andras, president and chief executive officer, will lead the call.

To access the webcast, participants should visit the "Investor Information" section of the company's Web site at least fifteen minutes prior to the start of the conference call to download and install any necessary audio software. A replay of the webcast will be available for one week following the conference call and can be accessed one hour after the completion of the call.

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 North American 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 terminalling.

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.