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NORTHERN BORDER PARTNERS, L.P. ANNOUNCES EXTENSION OF NOTE EXCHANGE
FOR IMMEDIATE RELEASE: Friday, November 17, 2000
OMAHA -- Northern Border Partners, L.P. (NYSE: NBP) announced today that it has extended to 5:00 p.m., EST, Nov. 30, 2000 its offer to exchange up to $250,000,000 of new 8.875% Senior Notes, Series A due 2010, which have been registered for public trading, for a like amount of outstanding notes which were originally sold under Rule 144A. As of 5:00 p.m. EST, Nov. 16, 2000, $231.5 million of the notes had been tendered for exchange.
The Exchange Agent for the exchange offer is Bank One Trust Company, National Association, 1 Bank One Plaza, Suite 1L1-0126, Chicago, Illinois 60670.
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 natural gas from the Montana-Saskatchewan border to natural gas markets in the midwestern 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 from Kayenta, Arizona to the Mohave Power Station in Laughlin, Nevada. Northern Border Partners, L.P. information may be found at http://www.northernborderpartners.com/.
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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
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