Press Release

NORTHERN BORDER PARTNERS, L. P. ANNOUNCES SALE OF 1.9 MILLION COMMON UNITS

OMAHA -- Northern Border Partners, L. P. (NYSE – NBP) announced today that it has offered 1.875 million common units at $29.00 per unit under a shelf registration statement. The public offering is being managed by PaineWebber Incorporated, Salomon Smith Barney, and Lehman Brothers and is scheduled to close on Nov. 7, 2000.

The net proceeds from the offering will be used to repay debt outstanding under the Partnership’s bank credit agreements. Funds borrowed under the credit agreements were used to finance the acquisition of the Crestone Energy Ventures businesses from Enron North America in Sept. 2000.

Northern Border Partners has also granted the underwriters an option to purchase up to an additional 281,250 common units to cover over-allotments under the same terms and conditions as the offering.

Copies of the final prospectus relating to this offering may be obtained from the offices of PaineWebber Incorporated, 1285 Avenue of the Americas, New York, N.Y., 10019.

Northern Border Partners, L. P. owns a 70 percent general partner interest in Northern Border Pipeline Company, which owns a 1,214-mile interstate pipeline system that transports approximately 23 percent of all Canadian natural gas imports into the United States. Through Crestone Energy Ventures, the partnership owns interests in Crestone Gathering Services (100 percent), Bighorn Gas Gathering (49 percent), Fort Union Gas Gathering (33.33 percent), and Lost Creek Gathering (35 percent) in the Powder River and Wind River Basins in Wyoming. In addition, the partnership owns the Black Mesa Pipeline, a 273-mile, coal-water slurry pipeline extending from Kayenta, Arizona to the Mohave Power Station in Laughlin, Nevada.

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For additional information please contact:

Public Relations Contact:

Beth Jensen

(402) 398-7806

Investor Relations Contact:

Ellen Konsdorf

(402) 398-7840