Energy Transfer Partners, L.P. Announces Common Units Offering

DALLAS–(EMWNews)–Energy Transfer Partners, L.P. (NYSE:ETP)

today announced that it has commenced a public offering of 7,750,000

common units representing limited partner interests, with an option for

the underwriters to purchase up to an additional 1,162,500 common units.

Net proceeds from the offering will be used by ETP to repay borrowings

outstanding under its revolving credit facility.

Citi, Wachovia Securities, Credit Suisse and Lehman Brothers are acting

as joint book-running managers, and JPMorgan, Merrill Lynch & Co.,

Morgan Stanley, UBS Investment Bank, Deutsche Bank Securities, Morgan

Keegan & Company, Inc., Oppenheimer & Co., RBC Capital Markets and

Sanders Morris Harris are acting as co-managers. A copy of the

preliminary prospectus supplement and prospectus relating to the

offering may be obtained from the following addresses:

You may also obtain these documents for free when they are

available by visiting EDGAR on the SEC web site at www.sec.gov.

This offering is made pursuant to an effective shelf registration

statement and prospectus filed by ETP with the Securities and Exchange

Commission. This press release shall not constitute an offer to sell or

the solicitation of an offer to buy the securities described herein, nor

shall there be any sale of these securities in any state or jurisdiction

in which such an offer, solicitation or sale would be unlawful prior to

registration or qualification under the securities laws of any such

jurisdiction. The offering may be made only by means of a prospectus and

related prospectus supplement meeting the requirements of Section 10 of

the Securities Act of 1933, as amended.

Energy Transfer Partners, L.P. (NYSE:ETP)

is a publicly traded partnership owning and operating a diversified

portfolio of energy assets. ETP has pipeline operations in Arizona,

Colorado, Louisiana, New Mexico and Utah, and owns the largest

intrastate pipeline system in Texas. ETP’s

natural gas operations include intrastate natural gas gathering and

transportation pipelines, natural gas treating and processing assets and

three natural gas storage facilities located in Texas. These assets

include approximately 14,300 miles of intrastate pipeline in service,

with approximately 500 miles of intrastate pipeline under construction,

and 2,400 miles of interstate pipeline. ETP is also one of the three

largest retail marketers of propane in the United States, serving more

than one million customers across the country.

Energy Transfer Equity, L.P. (NYSE:ETE) owns the general partner

of ETP and approximately 62.5 million ETP limited partner units.

Statements about the offering may be forward-looking statements as

defined under federal law. These forward-looking statements rely on a

number of assumptions concerning future events and are subject to a

number of uncertainties and factors, many of which are outside the

control of ETP, and a variety of risks that could cause results to

differ materially from those expected by management of ETP. ETP

undertakes no obligation to update or revise forward-looking statements

to reflect changed assumptions, the occurrence of unanticipated events

or changes to future operating results over time.

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