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NORTHERN BORDER PARTNERS, L.P., REPORTS 17 PERCENT INCREASE IN THIRD QUARTER PRO FORMA NET INCOME TO $13.5 MILLION

 HOUSTON, Nov. 5 /PRNewswire/ -- Northern Border Partners, L.P. (NYSE: NBP), today reported pro forma net income of $13.5 million for the third quarter of 1993, a 17 percent increase over $11.5 million in pro forma net income for the comparable period in 1992. Pro forma net income per common unit for the three months ended Sept. 30, 1993, amounted to 50 cents compared to 43 cents per common unit in the third quarter period of 1992. Comparative revenues for the periods were $50.4 million for the most recent quarter and $40.9 million a year ago.
 The 1993 year-to-date pro forma net income amounted to $40.0 million, compared to $34.2 million on a pro forma basis for the first nine months a year ago. Per unit net income for the nine month period was $1.49 vs. $1.28 per unit on a pro forma basis for the first three quarters of 1992. Year-to-date revenues amounted to $152.1 million vs. $119.9 million for the comparable period last year.
 Because the initial public offering of Northern Border Partners, L.P., was not completed until Oct. 1, 1993, the earnings for the third quarter and year-to-date periods are reported on a pro forma basis.
 Most of the increase in pro forma net income for the third quarter and year-to-date can be attributed to a 313 million cubic feet per day expansion/extension of Northern Border Pipeline's transportation capacity completed during the fourth quarter of 1992. The expanded capacity of the transportation only pipeline is approximately 1.7 billion cubic feet per day, 100 percent of which currently is contractually committed.
 "We are very pleased with the third quarter results and the enthusiastic reception our offering has received since the units were initially priced on the New York Stock Exchange at the end of September," said Larry L. DeRoin, chief executive officer of Northern Border Partners, L.P., and chairman of Northern Border Pipeline Company management committee.
 Northern Border Partners, L.P., owns a 70 percent general partner interest in Northern Border Pipeline, a 969-mile U.S. interstate pipeline system that transports about 20 percent of all Canadian gas imported into the United States and approximately 55 percent of all Canadian gas consumed in the Midwestern part of the United States. The remaining interest in Northern Border Pipeline is held by subsidiaries of TransCanada PipeLines Limited. Northern Border Partners is listed on the New York Stock Exchange under the symbol "NBP."
 -0- 11/5/93
 /CONTACT: A.H. Davis of Northern Border Partners, L.P., 713-853-6941/


CO: Northern Border Partners, L.P. ST: Texas IN: OIL SU: ERN

TW -- NY020 -- 1154 11/05/93 10:23 EST
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Publication:PR Newswire
Date:Nov 5, 1993
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