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EOTT ENERGY PARTNERS, L.P. DECLARES QUARTERLY CASH DISTRIBUTION
FOR IMMEDIATE RELEASE: Tuesday, January 19, 1999
HOUSTON - EOTT Energy Partners, L.P. (the Partnership) announced today a distribution of $0.475 per common and special unit for the fourth quarter of 1998, or $1.90 on an annualized basis. The fourth quarter distribution is payable February 12, 1999, to unitholders of record as of January 29, 1999.
A portion of the distribution to common and special unitholders may be paid from funds provided by Enron Corp., the indirect parent of the general partner, pursuant to its existing distribution support agreement.
A Special Meeting of Unitholders will be held February 12, 1999. If certain proposals are approved, Enron will increase its distribution support to $29 million and extend it through 2001. Enron is currently committed to provide cash distribution support through the first quarter of 1999, with $7.1 million available after the third quarter 1998 distribution.
EOTT Energy Partners, L.P. is a major independent marketer of crude oil in the United States and Canada. Both EOTT Energy Corp. and the Partnership are headquartered in Houston, Texas. The common units of EOTT Energy Partners, L.P. trade on the New York Stock Exchange under the symbol “EOT.”
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For additional information please contact:
A. H. Davis
(713) 853-6941
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