HOUSTON--(BUSINESS WIRE)--Oct. 20, 2005--Enterprise GP Holdings L.P., (NYSE:EPE) today announced that the Board of Directors of its general partner declared its initial quarterly cash distribution to partners of $0.265 per common unit, or $1.06 per unit on an annual basis. This is a 6.0% increase from the expected initial quarterly distribution rate of $0.25 per common unit, or $1.00 per unit on an annual basis, as stated in its prospectus dated August 23, 2005. The cash distribution will be paid on November 10, 2005 to unitholders of record as of the close of business on October 31, 2005. As described in the prospectus, the initial quarterly cash distribution will be prorated for the portion of the fiscal quarter after the closing date of the initial public offering ("IPO"), beginning on August 30, 2005, to the end of the quarter on September 30, 2005. The amount of the prorated distribution for the 32-day period is $0.092 per common unit.
Enterprise GP Holdings will announce its earnings for the third quarter of 2005 on Wednesday, October 26, 2005 before the New York Stock Exchange opens for trading. Following the announcement, the company will host a conference call at 10:00 A.M. Central Time with analysts and investors to discuss third quarter earnings. The call will be broadcast live over the Internet and may be accessed at the company's website, www.enterprisegp.com.
To access the webcast, participants should visit the "Investor Resources" section of the company's website at least fifteen minutes prior to the start of the conference call to download and install any necessary audio software. A replay of the webcast will be available for one week following the conference call and can be accessed one hour after the completion of the call.
Enterprise GP Holdings L.P. owns the general partner of Enterprise Products Partners L.P. (NYSE:EPD), a leading North American midstream energy company. The general partner manages the business affairs of Enterprise Products Partners L.P. which provides a wide range of services to producers and consumers of natural gas, natural gas liquids, and crude oil, and is an industry leader in the development of pipeline and other midstream infrastructure in the continental United States and deepwater trend of the Gulf of Mexico.
This press release contains various forward-looking statements and information that are based on Enterprise GP's beliefs and those of its general partner, as well as assumptions made by and information currently available to Enterprise GP. When used in this press release, words such as "anticipate," "project," "expect," "plan," "goal," "forecast," "intend," "could," "believe," "may," and similar expressions and statements regarding the plans and objectives of Enterprise GP for future operations, are intended to identify forward-looking statements. Although Enterprise GP and its general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither Enterprise GP nor its general partner can give assurances that such expectations will prove to be correct. Such statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, Enterprise GP's actual results may vary materially from those it anticipated, estimated, projected or expected. Among the key risk factors that may have a direct bearing on Enterprise GP's results of operations and financial condition are:
-- fluctuations in oil, natural gas and NGL prices and production due to weather and other natural and economic forces;
-- the effects of the combined company's debt level on its future financial and operating flexibility;
-- a reduction in demand for its products by the petrochemical, refining or heating industries;
-- a decline in the volumes of NGLs delivered by its facilities;
-- the failure of its credit risk management efforts to adequately protect it against customer non-payment;
-- terrorist attacks aimed at its facilities; and,
-- the failure to successfully integrate our operations with companies, if any that we may acquire in the future.
Enterprise GP has no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
CONTACT: Enterprise GP Holdings L.P.
Randy Burkhalter, 713-426-4504 (Investor Relations)
www.enterprisegp.com
SOURCE: Enterprise GP Holdings L.P.