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TEPPCO PARTNERS REPORTS RESULTS OF OPERATIONS

             TEPPCO PARTNERS REPORTS RESULTS OF OPERATIONS
    HOUSTON, Jan. 27 /PRNewswire/ -- TEPPCO Partners, L.P. (NYSE: TPP)


today reported fourth quarter 1991 net income of $7.4 million, or $0.51 per unit, compared with 1990 net income of $13.3 million, or $0.91 per unit, for the same period.
    Operating revenues of $45.2 million for the fourth quarter of 1991 were $5.4 million less than the $50.6 million reported for the 1990 period due to lower demand for refined products and liquefied petroleum gases (LPGs) transportation as a result of depressed economic conditions, mild weather and product prices that favored Midwest producers.  Operating revenues were positively impacted by increased storage and shuttle revenue at the partnership's Mont Belvieu facilities.
    Fourth quarter 1991 operating expenses of $23.3 million were $0.4 million lower when compared with the 1990 fourth quarter.  The expense reduction is primarily attributable to lower power costs as a result of decreased transportation volumes, which were offset somewhat by increased ad valorem taxes.
    Net income for the year ended Dec. 31, 1991, was $19.9 million, or $1.36 per unit, compared with 1990 pro forma net income of $24.1 million, or $1.65 per unit, for the same period.
    Operating revenues of $163.3 million for the year ended Dec. 31, 1991, were $3.6 million less than pro forma $166.9 million for the comparable 1990 period.  The full-year benefits of tariff increases in 1990 and increased storage at Mont Belvieu were more than offset by lower demand for refined products transportation due to the depressed economy and unfavorable product prices and high inventory levels in the Midwest, as well as lower demand for propane transportation in the Midwest and the Northeast due to weather conditions.
    Operating expenses of $89.2 million for the year ended Dec. 31, 1991, were relatively unchanged when compared to 1990.
    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 pipeline common carriers of refined petroleum products and liquefied petroleum gases in the United States.
                         TEPPCO PARTNERS, L.P.
                          Financial Highlights
           (Unaudited - In Millions, Except Per Unit Amounts)
                               Three Months Ended   Twelve Months Ended
                                  December 31           December 31
                                                              Pro Forma
                                  1991     1990       1991      1990
    Operating revenues           $45.2    $50.6      $163.3    $166.9
    Operating expenses            23.3     23.7        89.2      89.3
    Depreciation                   5.8      5.1        21.4      20.1
    Operating income              16.1     21.8        52.7      57.5
    Interest expense              (9.3)    (9.3)      (37.3)    (37.2)
    Other income-net               0.6      0.8         4.5       3.8
    Net income                    $7.4    $13.3       $19.9     $24.1
    Net income per unit           $0.51    $0.91       $1.36     $1.65
    Number of units               14.5     14.5        14.5      14.5
                                OPERATING DATA
    Barrels Delivered
         Refined Products         21.3     23.9        89.2      94.5
         LPGs                     10.5     13.7        34.7      36.9
         Mont Belvieu Operations   7.9      7.3        23.4      25.7
         Total                    39.7     44.9       147.3     157.1
    Average Tariff Per Barrel
         Refined Products         $0.82    $0.80       $0.77     $0.74
         LPGs                      1.89     1.67        1.64      1.62
         Mont Belvieu Operations   0.16     0.15        0.15      0.15
    Average System Tariff
         Per Barrel               $0.97    $0.96       $0.88     $0.85
    -0-                         1/27/92
    /CONTACT:  William G. Nikolis, 713-759-3861, or Eric W. Thode, 713-759-3635, or investors contact, Brenda J. Peters, 713-759-3954, all of TEPPCO Partners, L.P./
    (TPP) CO:  TEPPCO Partners, L.P. ST:  Texas IN:  OIL SU:  ERN KD -- NY074 -- 3818 01/27/92 13:51 EST
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Date:Jan 27, 1992
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