Energy Transfer Declares Increase in Unitholder Distributions

DALLAS--(BUSINESS WIRE)--Energy Transfer Partners, L.P. (NYSE:ETP) and Energy Transfer Equity, L.P. (NYSE:ETE) today announced the Board of Directors of each Partnership has approved respective quarterly distribution increases. ETP has approved the previously announced management-recommended increase in its quarterly distribution to $0.89375 per unit ($3.575 annualized) on ETP’s outstanding common units for the quarter ended June 30, 2008. The new quarterly distribution of $0.89375 per common unit will be paid on August 14, 2008 to Unitholders of record as of the close of business on August 7, 2008.

ETE has also approved an increase in its quarterly distribution to $0.48 per unit ($1.92 annualized) on ETE’s outstanding common units for the quarter ended June 30, 2008. The new quarterly distribution of $0.48 per common unit will be paid on August 19, 2008 to Unitholders of record as of the close of business on August 7, 2008.

“We started 2008 with strong first quarter results and expect our second quarter results to follow that trend,” said Martin Salinas, Energy Transfer Partners’ Chief Financial Officer. “The increase in the quarterly distribution for both ETP and ETE reflects our continued confidence in the performance of our existing asset base and ETP’s growth opportunities,” added Mr. Salinas.

Both Partnerships expect to release earnings for the second quarter 2008 ended June 30, 2008 on Monday, August 11, 2008, after the market closes. A conference call has been scheduled for 10:00 a.m. Central Time, Tuesday, August 12th to discuss these quarterly results. The dial-in number is 1-888-428-4479, participant code: Energy Transfer. The call will be available for replay on the company website (www.energytransfer.com) for a limited time.

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 Arizona, Colorado, Louisiana, New Mexico and Utah, and owns the largest intrastate pipeline system in Texas. ETP’s natural gas operations include intrastate natural gas gathering and transportation pipelines, natural gas treating and processing assets and three natural gas storage facilities located in Texas. These assets include approximately 14,300 miles of intrastate pipeline in service, with approximately 500 miles of intrastate pipeline under construction, and 2,400 miles of interstate pipeline. ETP is also one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.

Energy Transfer Equity, L.P. (NYSE:ETE) owns the general partner of Energy Transfer Partners and approximately 62.5 million ETP limited partners units.

The information contained in this press release is available on our website at www.energytransfer.com.

Company:		Energy Transfer Partners, L.P. (NYSE:ETP)
Record Date:		August 7, 2008
Ex Date:		August 5, 2008
Payment Date:		August 14, 2008
Amount Paid:		$0.89375 per Common Unit
Company:		Energy Transfer Equity, L.P. (NYSE:ETE)
Record Date:		August 7, 2008
Ex Date:		August 5, 2008
Payment Date:		August 19, 2008
Amount Paid:		$0.48 per Common Unit