Enterprise Management to Recommend Distribution Increases to Board of Directors

Enterprise Management to Recommend Distribution Increases to Board of Directors

HOUSTON--(BUSINESS WIRE)-- Enterprise Products Partners L.P. (NYS: EPD) today announced that its management will recommend to the board of directors of its general partner increases in its cash distributions with respect to the third and fourth quarters of 2012, which would result in increases of 6.1 percent and 6.5 percent, respectively, compared to the cash distributions paid with respect to the third and fourth quarters of 2011.

With respect to the third quarter of 2012, management will recommend that the board consider and approve an increase in the cash distribution of $0.01 per unit, or $0.04 per unit annualized, plus a special distribution increase of $0.005 per unit, or $0.02 per unit annualized, for a total cash distribution of $0.65 per unit, or $2.60 per unit annualized. This would represent a 6.1 percent increase compared to the cash distribution of $0.6125 per unit, or $2.45 per unit annualized, that was paid with respect to the third quarter of 2011. The cash distribution with respect to the third quarter of 2012 would be paid in November 2012 to unitholders of record at the close of business on October 31, 2012.

Management also intends to recommend that the board consider an additional $0.01 per unit, or $0.04 per unit annualized, increase in the cash distribution to $0.66 per unit, or $2.64 per unit annualized, with respect to the fourth quarter of 2012. This would represent a 6.5 percent increase compared to the cash distribution of $0.62 per unit, or $2.48 per unit annualized, that was paid with respect to the fourth quarter of 2011. The cash distribution with respect to the fourth quarter of 2012 would be paid in February 2013 to unitholders of record at the close of business on January 31, 2013.

"We are pleased to make these recommendations to increase our cash distribution growth rate to our board of directors," said Michael A. Creel, president and chief executive officer of Enterprise's general partner. "These increases are supported by the successful completion and start of commercial operations on over $2 billion of growth capital projects thus far in 2012. These projects are fee-based projects serving the Eagle Ford Shale in South Texas. Overall, the initial volumes on these assets have exceeded our expectations. Our two natural gas processing plants at Yoakum were immediately full and processing up to 10 percent more natural gas than name plate capacity. In addition, we are also generally on time and on or below budget on another $1.1 billion of fee-based capital projects, which should begin operations later this year."

"We continue to take a disciplined approach in balancing distribution growth with the financial flexibility provided by retaining cash flow to reinvest in the growth of our partnership. We currently have approximately $7.5 billion of growth projects under construction. Retaining a portion of our cash flow to invest in the construction of new assets is an accretive use of partnership capital and reduces our reliance on the capital markets," stated Creel.

The amount of the actual distributions declared with respect to the third quarter and fourth quarter of 2012 remain subject to final approval by the board of directors of Enterprise's general partner.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. The partnership's assets include approximately 50,700 miles of onshore and offshore pipelines; 190 million barrels of storage capacity for NGLs, petrochemicals, refined products and crude oil; and 14 billion cubic feet of natural gas storage capacity. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and import and export terminals; crude oil and refined products transportation, storage and terminals; offshore production platforms; petrochemical transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. Additional information is available at www.enterpriseproducts.com.

This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner expect, believe or anticipate will or may occur in the future are forward-looking statements.These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise's reports filed with the Securities and Exchange Commission.Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.Except as required by law, Enterprise does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Enterprise Products Partners L.P.
Randy Burkhalter, Investor Relations, 713-381-6812
Rick Rainey, Media Relations, 713-381-3635

KEYWORDS: United States North America Texas

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