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Boardwalk Prices Public Offering of Common Units.

OWENSBORO, Ky. -- Boardwalk Pipeline Partners, LP (NYSE: BWP) today announced that it has priced a public offering of 6,000,000 common units representing limited partner interests at a price of $29.65 per unit. The Partnership expects the offering to close on November 22, 2006. The Partnership will receive net proceeds after offering expenses in connection with this offering of approximately $172.5 million, including the general partner's proportionate capital contribution of $3.5 million. The Partnership has granted the underwriters a 30-day option to purchase an additional 900,000 additional common units.

The Partnership plans to use the proceeds from this offering to fund a portion of the cost of its expansion projects.

Citigroup Global Markets Inc., Lehman Brothers Inc. and UBS Securities LLC are acting as joint book-running managers for the offering. Co-managers for the offering are Morgan Stanley & Co. Incorporated and Wachovia Capital Markets, LLC, A.G. Edwards & Sons, Inc. and Raymond James & Associates, Inc.

A copy of the final prospectus relating to this offering - when available - may be obtained from any of the underwriters, including Citigroup Global Markets Inc., Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, N.Y., 11220, 718-765-6732, fax 718-765-6734; Lehman Brothers Inc., c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717, Email: monica_castillo@adp.com, Fax: (631) 254-7268 or from UBS Securities LLC, Prospectus Department, 299 Park Avenue, New York, N.Y., 10171, 212-821-3000.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the limited partner units described in this press release, nor shall there be any sale of these limited partner units in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offer is being made only through the prospectus, which is part of a registration statement that became effective on November 16, 2006.

Boardwalk Pipeline Partners, LP is a master limited partnership engaged through its subsidiaries, Texas Gas Transmission, LLC and Gulf South Pipeline Company, LP, in the interstate transportation and storage of natural gas. Boardwalk's two interstate natural gas pipeline systems have approximately 13,470 miles of pipeline and underground storage fields with aggregate working gas capacity of approximately 146 Bcf.

This press release contains forward-looking statements relating to expectations, plans or prospects for Boardwalk and its subsidiaries. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the company's control and the risk factors and other cautionary statements discussed in Boardwalk's and Texas Gas' filings with the U.S. Securities and Exchange Commission.
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Publication:Business Wire
Date:Nov 17, 2006
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