Valero L.P. To Announce Second Quarter 2006 Earnings Results July 31.

SAN ANTONIO -- Valero L.P. (NYSE:VLI) today announced that it will host a conference call Monday, July 31, 2006 at 1:30 p.m. CT to discuss second quarter 2006 earnings results, which will be released earlier that day, and provide an update on partnership operations. The conference call may be accessed by dialing 800-622-7620, reservation passcode 2888567. International callers may access the conference call by dialing 706-645-0327, passcode 2888567. The company intends to have a playback available following the conference call and may be accessed by calling 800-642-1687, reservation passcode 2888567. International callers may access the playback by calling 706-645-9291, reservation passcode 2888567.

Persons interested in listening to the presentation live via the internet may log on to Valero L.P.'s web site at www.valerolp.com.

Valero L.P. is a master limited partnership based in San Antonio, with 9,243 miles of pipeline, 88 terminal facilities and four crude oil storage facilities. One of the largest independent terminal and petroleum liquids pipeline operators in the nation, the partnership has operations in the United States, the Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom. The partnership's combined system has approximately 77 million barrels of storage capacity, and includes crude oil and refined product pipelines, refined product terminals, a petroleum and specialty liquids storage and terminaling business, as well as crude oil storage tank facilities. For more information, visit Valero L.P.'s web site at www.valerolp.com.