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Crosstex Energy, L.P.
Trades on the NASDAQ Exchange under the symbol XTEX.
Press Release

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Crosstex Energy, L.P. Prices Offering of 1.5 Million Common Units at $35.97

DALLAS--(BUSINESS WIRE)--Sept. 3, 2003--Crosstex Energy, L.P. (NasdaqNM:XTEX), a Texas-based midstream natural gas company, today announced that it has priced its offering of 1.5 million newly issued common units at a price of $35.97 per unit. The common units represent a limited partner interest in Crosstex. Net proceeds from this offering will be used to repay a portion of the borrowings incurred in connection with recent acquisitions and capital projects, including the recent acquisition of assets from Duke Energy Field Services, L.P.

A.G. Edwards & Sons Inc. acted as lead manager and Raymond James and RBC Capital Markets acted as co-managers. Crosstex has granted the underwriters a 30-day option to purchase up to 225,000 additional units to cover over-allotments, if any.

Crosstex Energy, L.P., a mid-stream natural gas company headquartered in Dallas, operates approximately 2,500 miles of pipeline, three processing plants and approximately 40 natural gas amine treating plants. Crosstex currently provides services for over 1,000,000 MMBtu/day of natural gas.

This news release contains forward-looking statements, which are statements that are not historical in nature such as our plan to repay borrowings with the proceeds from the offering. Forward-looking statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or any underlying assumption proves incorrect, actual results may vary materially from those anticipated, estimated or projected. Among the key factors that could cause actual results to differ materially from those referred to in the forward-looking statements, are: (1) the amount of natural gas transported in our gathering and transmission lines may decline as a result of competition for supplies, reserve declines and reduction in demand from key customers and markets; (2) the level of our processing and treating operations may decline for similar reasons; (3) fluctuations in natural gas and NGL prices may occur due to weather and other natural and economic forces; (4) there may be a failure to successfully integrate new acquisitions; (5) our credit risk management efforts may fail to adequately protect against customer nonpayment; and (6) we may not adequately address construction and operating risks. These and other risks and assumptions are described in the prospectus relating to the offering and other reports that are available from the United States Securities and Exchange Commission.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy the common units, which is being made only pursuant to the prospectus relating to the offering. Copies of the final prospectus relating to this offering may be obtained from the offices of A.G. Edwards & Sons Inc., One North Jefferson Avenue, St. Louis, Missouri 63103.


    CONTACT: Crosstex Energy, Dallas
             Barry E. Davis, 214-953-9500
             or
             William W. Davis, 214-953-9500

    SOURCE: Crosstex Energy

 
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