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ENRON FILES REGISTRATION STATEMENT FOR PUBLIC OFFERING OF LIMITED PARTNERSHIP UNITS IN LIQUIDS PIPELINES

 ENRON FILES REGISTRATION STATEMENT FOR PUBLIC OFFERING OF
 LIMITED PARTNERSHIP UNITS IN LIQUIDS PIPELINES
 HOUSTON, June 1 /PRNewswire/ -- Enron Corp. (NYSE: ENE) today announced that Enron Liquids Pipeline, L.P., a newly formed limited partnership, has filed a registration statement with the Securities and Exchange Commission to offer 6.4 million limited partner units.
 The units will represent an approximately 85 percent interest in the partnership. If the underwriter's overallotment option is exercised in full, 7.04 million limited partner units will be issued in the offering, representing an approximately 86 percent interest. It is currently estimated that the initial public offering price per limited partner unit will be between $21 and $23 per unit. Enron will hold the remaining 14 percent to 15 percent interest in the partnership. The limited partnership also plans to issue $125 million of privately placed debt to provide additional consideration for the assets being acquired.
 The partnership intends to acquire at the closing of the offering assets consisting of a 1,600-mile interstate common carrier natural gas liquids (NGL) and refined petroleum products pipeline system that extends from Bushton, Kansas, to the Chicago area; the Cypress Pipeline, an interstate common carrier NGL pipeline that extends approximately 100 miles from Mont Belvieu, Texas, to Lake Charles, La.; the Dean Pipeline, an intrastate NGL pipeline system that extends approximately 300 miles along the Texas Gulf Coast from south of Corpus Christi, Texas to Mont Belvieu; and the Central Basin Pipeline, an intrastate pipeline that transports carbon dioxide in West Texas for use in enhanced oil
recovery operations in the Permian Basin of West Texas. The partnership assets also will include an indirect 25 percent interest in an NGL fractionation facility located at Mont Belvieu that is used to separate NGL products from mixed NGL streams.
 "We announced a few months ago that we planned to reduce debt by selling approximately $250 million in assets," said Kenneth L. Lay, chairman and CEO of Enron Corp. "We expect to achieve a large majority of this target through this liquids pipeline partnership in which we will maintain our active involvement in the liquids pipeline operations," he added. "We also are on target to complete the remaining asset sales by year-end as originally planned."
 The registration statement relating to the limited partner units and filed with the Securities and Exchange Commission has not yet become effective. Such units may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these units in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Lehman Brothers and Kidder, Peabody & Co. Incorporated will manage the underwriting syndicate for the offering of the partnership units.
 Enron Corp., America's leading natural gas company with more than $13 billion in revenues and about $10 billion in assets, operates the nation's largest natural gas transmission system; markets natural gas, natural gas liquids, crude oil and refined products nationally and worldwide; owns 84 percent of Enron Oil & Gas Company, one of the country's largest independent (non-integrated) natural gas exploration and production companies; is one of the largest independent developers and producers of electricity in the United States and the United Kingdom, with extensive experience in combined heat and power installations; and is a leading purchaser and long-term marketer of natural gas.
 -0- 6/1/92
 /CONTACT: Diane Bazelides, director, media relations of Enron Corp., 713-853-6285/
 (ENE) CO: Enron Corp.; Enron Liquids Pipeline, L.P. ST: Texas IN: OIL SU: OFR


PS -- NY095 -- 5948 06/01/92 17:48 EDT
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Date:Jun 1, 1992
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