DALLAS--(BUSINESS WIRE)--Aug. 29, 2008--Crosstex Energy, L.P.
(NASDAQ: XTEX) (the Partnership) announced today that the Partnership
received a NASDAQ Staff Deficiency Letter on August 27, 2008
indicating that the Partnership no longer complies with the audit
committee composition requirements as set forth in Marketplace Rule
4350(d), which requires the general partner of the general partner of
the Partnership to have an audit committee of at least three
independent members. As of August 13, 2008, the audit committee of
Crosstex Energy GP, LLC, the general partner of Crosstex Energy GP,
L.P., the general partner of the Partnership, consisted of only two
independent members. In accordance with Marketplace Rule 4350(d)(4),
NASDAQ has provided the Partnership a cure period to regain compliance
until the earlier of the Partnership's next annual unitholders'
meeting or August 13, 2009, or, if the next annual unitholders'
meeting is held before February 9, 2009, then the Partnership must
evidence compliance no later than February 9, 2009.
About Crosstex Energy, L.P.
Crosstex Energy, L.P., a midstream natural gas company
headquartered in Dallas, operates over 5,000 miles of pipeline, 12
processing plants, four fractionators, and approximately 190 natural
gas amine-treating plants and dew point control plants. Crosstex
currently provides services for over 3.5 Bcf/day of natural gas, or
approximately seven percent of marketed U.S. daily production.
Additional information about the Partnership can be found at
CONTACT: Crosstex Energy, L.P.
Crystal C. Bell, 214-721-9407
Investor Relations Specialist
Jill McMillan, 214-721-9271
Manager, Public & Industry Affairs
SOURCE: Crosstex Energy, L.P.