HOUSTON--(BUSINESS WIRE)--Oct. 12, 2006--Enterprise GP Holdings L.P., (NYSE:EPE) announced today that the Board of Directors of its general partner declared an increase in its quarterly cash distribution to partners to $0.335 per common unit, or $1.34 per common unit on an annual basis. The cash distribution will be paid on November 9, 2006, to unitholders of record as of the close of business on October 31, 2006. This distribution represents an 8.1 percent increase over the $0.31 per unit quarterly distribution paid with respect to the second quarter of 2006 and a 34 percent increase over the $0.25 per unit expected initial quarterly distribution as stated in the prospectus dated August 23, 2005.
Enterprise GP Holdings will announce its earnings for the third quarter of 2006 on Tuesday, October 24, 2006 before the New York Stock Exchange opens for trading. Following the announcement, the company will host a conference call at 11:00 A.M. Central Time with analysts and investors to discuss third quarter earnings. The call will be broadcast live on the Internet and may be accessed at the company's website, www.enterprisegp.com.
To listen to the webcast, participants should access 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. For more information on Enterprise GP Holdings L.P., visit its website at www.enterprisegp.com
This press release contains various forward-looking statements and information that are based on Enterprise GP Holdings' beliefs and those of its general partner, as well as assumptions made by and information currently available to Enterprise GP Holdings. 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 Holdings for future operations, are intended to identify forward-looking statements. Although Enterprise GP Holdings and its general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither Enterprise GP Holdings 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 Holdings' 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 Holdings' 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 Holdings 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., Houston
Investor Relations
Randy Burkhalter, 713-381-6812
or
Media Relations
Rick Rainey, 713-381-3635
SOURCE: Enterprise GP Holdings L.P.