COMPANY OVERVIEW

At Energy Transfer we believe a company is only as good as its people. That is why we strive to ensure that our employees across the country believe in the company’s core values -- integrity, honesty and a steadfast commitment to doing what is right for those with whom we do business.

A Texas-based energy company that began in 1995 as a small intrastate natural gas pipeline company, Energy Transfer is now one of the country’s fastest-growing natural gas transportation companies with widespread business operations that are highly regarded throughout the energy industry and the investment community.

Energy Transfer owns and operates a diversified portfolio of energy assets. Our operations include the gathering, treating, processing, marketing and transportation of natural gas.

Energy Transfer offers two separate publicly-traded securities on the New York Stock Exchange (NYSE):

• Energy Transfer Partners, L.P. (ETP)  - a Master Limited Partnership; and
• Energy Transfer Equity, L.P. (ETE)  - a "GP" Master Limited Partnership

Both offer a distinct opportunity for investors to participate in the attractive growth of the energy sector. ETP offers greater distribution income but less accelerated growth; ETE offers less distribution income but faster growth.

ENERGY TRANSFER PARTNERS, L.P. (NYSE: ETP)

Energy Transfer Partners, L.P. (NYSE:ETP) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arkansas, Arizona, Colorado, Louisiana, Mississippi, New Mexico, Utah, and West Virginia and owns the largest intrastate pipeline system in Texas. ETP currently has natural gas operations that include more than 17,500 miles of gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP also holds a 70% interest in Lone Star NGL LLC, joint venture that owns and operates natural gas liquids storage, fractionation and transportation assets in Texas, Louisiana, and Mississippi.

ENERGY TRANSFER EQUITY, L.P. (NYSE: ETE)

Energy Transfer Equity, L.P. (NYSE:ETE) is a publicly traded partnership, which owns the general partner of Energy Transfer Partners and approximately 50.2 million ETP limited partner units; and the general partner of Regency Energy Partners and approximately 26.3 million Regency limited partner units.

Both securities (ETP and ETE) are publicly traded partnerships in the energy sector and are each committed to building value and growth for their respective unitholders.