Energy Transfer Partners, L.P. Declares Increase in Quarterly Distribution.

DALLAS -- Energy Transfer Partners, L.P. (NYSE:ETP) announced today an increase in the quarterly cash distribution paid on the Partnership's outstanding limited partner units to $0.4875 per common unit (an annualized rate of $1.95 per common unit) for the quarter ended May 31, 2005. This latest

The Partnership's business operations continue to experience growth, and coupled with the recently announced expansion projects, have allowed the Partnership to meet its expectations. The Partnership's consistent record of consecutive quarterly increases reinforces the Partnership's commitment to improving returns to its investors while maintaining a strong balance sheet and common unit distribution coverage ratio.

The Partnership anticipates holding an earnings call on July 12, 2005, following the filing of its third quarter Form 10-Q. The Partnership's third quarter EBITDA is expected to be in the range of $105 million to $108 million, which includes the benefit of an accrual taken into income during the quarter for minimum demand fees payable by a customer for not meeting its annual minimum transportation requirements under a eight-year contract for the contract year beginning June 2004. Third quarter EBITDA does not include any results from the operation of the Fort Worth Basin Pipeline which became operational immediately before the period end.

Energy Transfer Partners, L.P. is a publicly traded partnership owning and operating a diversified portfolio of energy assets. The Partnership's natural gas transportation and storage operations include approximately 11,700 miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. The Partnership is the fourth largest retail marketer of propane in the United States, serving more than 700,000 customers from 312 customer service locations in 33 states extending from coast to coast, with concentration in the western, upper midwestern, northeastern, and southeastern regions of the United States.

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. An extensive list of factors that can affect future results are discussed in the Partnership's Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

The information contained in this press release is available on the Partnership's website at www.energytransfer.com. For more information, please contact H. Michael Krimbill, President and Chief Financial Officer at 918-492-7272.

Company       : Energy Transfer Partners, L.P. (NYSE:ETP)
Record Date   : July 8, 2005
Payment Date  : July 15, 2005
Amount Paid   : $0.4875 per Limited Partner Unit