HOUSTON, Mar 08, 2006 (BUSINESS WIRE) -- Enterprise GP Holdings L.P., ("Enterprise GP Holdings")(NYSE:EPE) announced today that it made a capital contribution of approximately $8.6 million to Enterprise Products Partners L.P. ("Enterprise")(NYSE:EPD) to maintain its 2% general partner equity ownership interest in Enterprise following Enterprise's issuance of 18.4 million new common units that priced on March 2, 2006.
As a result of Enterprise issuing these additional common units, the quarterly cash distribution that Enterprise GP Holdings receives from Enterprise will increase by approximately $1.1 million, or 3.7%, based on Enterprise's current quarterly cash distribution rate.
Enterprise GP Holdings owns Enterprise Products GP, LLC, which manages the business affairs of Enterprise. Enterprise is a leading North American midstream energy company that 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 Gulf of Mexico.
SOURCE: Enterprise GP Holdings L.P.
Enterprise GP Holdings L.P., Houston Randy Burkhalter, 713-426-4504 www.enterprisegp.com