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ENRON LIQUIDS PIPELINE RECEIVES APPROVAL TO PURCHASE CORA COAL TRANSFER TERMINAL

 HOUSTON, Sept. 27 /PRNewswire/ -- The board of directors of Enron Liquids Pipeline Company, the general partner of Enron Liquids Pipeline, L.P. (NYSE: ENP), has approved a proposed acquisition of the Cora Terminal (a coal transfer facility) and related assets from Cora Dock Corporation, a wholly owned subsidiary of Enron Corp. The acquisition will be effected through a newly-formed limited partnership in which Enron Liquids Pipeline, L.P. owns a 99 percent limited partner interest.
 The proposed acquisition, which already has received Hart-Scott- Rodino antitrust clearance from the Federal Trade Commission, is expected to close by the end of the month, subject to, among other things, the negotiation of a definitive written agreement and receipt of an opinion from an investment bank that the consideration paid is fair to the partnership.
 "We view the proposed acquisition of the Cora Terminal to be a natural extension of our Enron Liquids Pipeline, L. P. business base," said James E. Spencer, president of Enron Liquids Pipeline Company. "The proposed purchase supports our previously announced pledge to increase unitholder value through the continued growth of existing operations and through the purchase of appropriate assets that will potentially contribute to future earnings and cash flow growth."
 Originally constructed in 1980, the Cora Terminal is a modern, high speed rail-to-barge coal storage and transfer facility located on the Mississippi River approximately 80 miles south of St. Louis, near Cora, Ill. The terminal's customers include coal suppliers and power companies, with the majority of the coal being handled by the facility ultimately utilized as a primary fuel in electric power generation. The facility is capable of continuously unloading 100-car unit trains and transferring the coal directly to barges or to an adjacent 500,000-ton storage yard.
 "Cora is situated on the mainline of the Union Pacific-Missouri Pacific Railroad, which serves coal mines in southern Illinois and in the Hanna and Powder River basins of Wyoming," Spencer said. "The major coal companies served by this railroad have substantial developed and undeveloped reserves, affording Cora excellent prospects for increasing tonnage in the years ahead."
 Enron Liquids Pipeline, L.P. operates two interstate common carrier natural gas liquids (NGL) pipeline systems and one carbon dioxide (CO2) pipeline system. The Partnership also owns an indirect interest in an NGL fractionator. The North System transports, stores and delivers a full range of NGLs and refined products from south central Kansas to markets in the Midwest and has interconnects, using third-party pipelines, to the eastern United States. The Cypress Pipeline transports ethane from Mont Belvieu, Texas, to the Lake Charles, La., area. The Central Basin Pipeline transports CO2 in West Texas. Enron Liquids Pipeline, L.P. trades on the New York Stock Exchange under the symbol, "ENP."
 -0- 9/27/93
 /CONTACT: Diane Bazelides of Enron Liquids Pipeline Company, 713-853-6285/
 (ENP)


CO: Enron Liquids Pipeline Company ST: Texas IN: OIL SU: TNM

SM -- NY098 -- 6115 09/27/93 17:33 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
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