Genesis Announces Salomon Smith Barney Extends Master Credit Support Agreement Through Dec. 31, 2000.HOUSTON--(BUSINESS WIRE)--June 1, 1999-- Genesis Energy L.P. (NYSE NYSE See: New York Stock Exchange :GEL) announced today that Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. has agreed to extend the Master Credit Support Agreement between Genesis and Salomon Smith Barney for one year through Dec. 31, 2000. Genesis anticipates no change in its gathering or marketing activities related to credit in light of the extension by Salomon Smith Barney. Genesis also announces that effective June 14, 1999, A. Richard Janiak will become Chairman of the Board, replacing Thomas W. Jasper who is leaving the Board. Mr. Janiak is a Managing Director at Salomon Smith Barney Inc. and has been with the firm for 29 years in various capacities in investment banking and international activities. This press release contains statements by the partnership that involve risks and uncertainties and may constitute 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 the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements reflect management's current views and are based upon certain assumptions relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc economic conditions in the crude gathering marketplace, anticipated pipeline throughput volumes, the cost and success of potential acquisitions, the future success of integrating any such acquisitions, the success of the partnership acquisition programs generally and the impact of financing any potential acquisitions. Actual results could differ materially from those currently anticipated as a result of market conditions, operational disruptions or a number of other factors. Given these uncertainties, current or prospective investors are cautioned not to place undue reliance on any such forward-looking statements. Furthermore, the partnership disclaims any obligation or intent to update any such forward-looking statement to reflect future events or developments. Genesis Energy L.P., operates crude oil common carrier pipelines and is one of the largest independent gatherers and marketers of crude oil in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , with operations concentrated in Texas, Louisiana, Alabama, Florida, Mississippi, New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , Kansas and Oklahoma. |
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