Valero L.P. and Valero GP Holdings, LLC To Announce Fourth Quarter 2006 Earnings Results January 29th.

SAN ANTONIO -- Valero L.P. (NYSE:VLI) and Valero GP Holdings, LLC (NYSE:VEH) today announced that they will host a joint conference call Monday, January 29, 2007 at 1:30 p.m. CT to discuss fourth quarter earnings results, which will be released earlier that day, and provide an update on the operations of the companies. The conference call may be accessed by dialing 800-622-7620, reservation passcode 5994994. International callers may access the conference call by dialing 706-645-0327, passcode 5994994. The companies intend to have a playback available following the conference call, which may be accessed by calling 800-642-1687, reservation passcode 5994994. International callers may access the playback by calling 706-645-9291, reservation passcode 5994994.

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 or Valero GP Holdings, LLC's web site at www.valerogpholdings.com.

Valero L.P. is a publicly traded, limited partnership based in San Antonio, with 9,303 miles of pipeline, 86 terminal facilities and five 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 80 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.

Valero GP Holdings, LLC is a publicly traded limited liability company that owns the two percent general partner interest, a 21.4 percent limited partner interest and the incentive distribution rights in Valero L.P., one of the largest independent terminal and petroleum liquids pipeline operators in the nation with operations in the United States, the Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom. For more information, visit Valero GP Holdings, LLC's web site at www.valerogpholdings.com.