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TEPPCO PARTNERS, L.P. DECLARES QUARTERLY DISTRIBUTION AND REPORTS SECOND QUARTER RESULTS OF OPERATIONS

 TEPPCO PARTNERS, L.P. DECLARES QUARTERLY DISTRIBUTION AND REPORTS
 SECOND QUARTER RESULTS OF OPERATIONS
 HOUSTON, July 17, /PRNewswire/ -- TEPPCO Partners, L.P. (NYSE: TPP) has declared a quarterly cash distribution of $0.55 per unit, payable Aug. 17, 1992, to unitholders of record on July 31, 1992.
 This quarterly distribution covers the period from April 1 through June 30, 1992.
 TEPPCO Partners, L.P., is a publicly owned master limited partnership. TE Products Pipeline Company, Limited Partnership, the operating partnership, is one of the largest common carrier pipelines of refined petroleum products and liquefied petroleum gases in the United States.
 TEPPCO Partners, L.P. today reported second quarter 1992 net income of $2.9 million, or $0.19 per unit, compared with net income of $0.5 million, or $0.03 per unit, for the same period in 1991.
 The improved performance is due primarily to decreased second quarter operating expenses. Operating expenses were reduced $3.1 million to $20.3 million primarily as a result of cost containment and continued improvements in product measurement.
 Operating revenues of $37.1 million for the second quarter were relatively unchanged compared with the 1991 second quarter. The 1992 revenues reflect the benefits of increased storage revenues, greater long-haul versus short-haul deliveries for both refined products and liquefied petroleum gases (LPGs) and general tariff increases for both product categories, averaging 4 percent, effective April 1, 1992. These benefits were offset by decreased gains on the sale of product inventory, as well as lower deliveries of refined products and LPGs. Deliveries declined due to recession-related lower demand and unfavorable Gulf Coast/Midwest product price differentials.
 Net income for the six months ended June 30, 1992, was $10.0 million, or $0.68 per unit, compared with net income of $6.9 million, or $0.47 per unit, for the same period in 1991.
 Operating expenses of $40.0 million for the first six months of 1992 were $4.8 million lower than the 1991 period largely due to cost- containment efforts.
 Operating revenues of $78.3 million for the first six months of 1992 were relatively unchanged compared with the 1991 period. The factors affecting year-to-date revenues were substantially the same as those affecting the second quarter.
 Other income-net for both the six and three months ended June 30, 1992, includes a $0.6 million favorable settlement related to prior-year property taxes, which was offset by decreased interest income due to lower 1992 interest rates.
 TEPPCO Partners, L.P. is a publicly owned master limited partnership. TE Products Pipeline Company, Limited Partnership, the operating partnership, is one of the largest common carrier pipelines of refined petroleum products and liquefied petroleum gases in the United States.
 TEPPCO PARTNERS, L.P.
 Financial Highlights
 (Unaudited - In Millions, Except Per Unit and Per Barrel Amounts)
 Periods ended Three Months Six Months
 June 30 1992 1991 1992 1991
 Operating Revenues $37.1 $37.2 $78.3 $78.2
 Operating Expenses 20.3 23.4 40.0 44.8
 Depreciation 5.9 5.2 11.7 10.3
 Operating Income 10.9 8.6 26.6 23.1
 Interest Expense (9.3) (9.3) (18.6) (18.6)
 Other Income-Net 1.3 1.2 2.0 2.4
 Net Income $2.9 $ 0.5 $10.0 $ 6.9
 Net Income Per Unit $0.19 $0.03 $0.68 $0.47
 Number of Units 14.5 14.5 14.5 14.5
 OPERATING DATA
 Barrels Delivered

 Refined Products 21.5 23.4 41.8 44.6
 LPGs 5.5 6.6 16.0 17.5
 Mont Belvieu Operations 7.3 5.6 13.1 10.3
 TOTAL 34.3 35.6 70.9 72.4
 Average Tariff Per Barrel
 Refined Products $0.83 $0.74 $0.79 $0.75
 LPGs 1.58 1.31 1.74 1.50
 Mont Belvieu Operations 0.15 0.17 0.16 0.16
 Average System Tariff
 Per Barrel $0.80 $0.76 $0.89 $0.85 -0- 7/17/92
 /CONTACT: William G. Nikolis, 713-759-3861, or Eric W. Thode, (media relations), 713-759-3635, or Brenda J. Peters, (investor relations), 713-759-3954, all of TEPPCO Partners, L.P./
 (TPP) CO: TEPPCO Partners, L.P. ST: Texas IN: OIL SU: ERN DIV


AH -- NY050 -- 0320 07/17/92 14:44 EDT
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Date:Jul 17, 1992
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