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Crosstex Energy, Inc.
Trades on the NASDAQ Exchange under the symbol XTXI.
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Crosstex Energy, Inc. Reports First Quarter Results

DALLAS, May 16, 2005 /PRNewswire-FirstCall via COMTEX/ -- Crosstex Energy, Inc. (Nasdaq: XTXI) (the Corporation) today reported net income of $1.6 million for the first quarter of 2005, compared to net income of $2.2 million for the comparable period in 2004. The Corporation's income before income taxes and interest of non-controlling partners in Crosstex Energy, L.P. (the Partnership) net income was $3.2 million in 2005 and $5.5 million in 2004.

The Corporation's share of Partnership distributions, including distributions on its ten million limited partner units, its two percent general partner interest, and the incentive distribution rights, was $6.8 million in the first quarter of 2005, compared to $5.1 million in the first quarter of 2004, an increase of 33 percent. The recently announced increase in the Partnership's distribution increased the Corporation's share of the distribution by $0.3 million, from $6.5 million in the fourth quarter of 2004 to $6.8 million for the first quarter of 2005.

About the Crosstex Energy Companies

Crosstex Energy, Inc. owns the general partner, a 54 percent limited partner interest and the incentive distribution rights of Crosstex Energy, L.P.

Crosstex Energy, L.P., a mid-stream natural gas company headquartered in Dallas, operates over 4,500 miles of pipeline, five processing plants, and over 90 natural gas amine treating plants. Crosstex currently provides services for approximately 1.9 BCF/day of natural gas.

Additional information about the Crosstex companies can be found at http://www.crosstexenergy.com .

(table to follow)



                            CROSSTEX ENERGY, INC.
                    Selected Financial and Operating Data
             (All amounts in thousands except per share numbers)

                                                     Three Months Ended
                                                           March 31,
                                                      2005           2004

    Revenues
      Midstream                                     $539,564       $318,214
      Treating                                         9,907          7,144
      Profit on Energy Trading Activities                 45            421
                                                     549,516        325,779
    Cost of Gas
      Midstream                                      516,416        302,876
      Treating                                         1,493          1,376
                                                     517,909        304,252

    Gross Margin                                      31,607         21,527

    Operating Expenses                                11,500          6,225
    General and Administrative                         6,452          3,865
    Stock Based Compensation                             276            209
    (Gain) Loss on Sale of Property                      (44)           296
    Depreciation and Amortization                      6,946          4,418

      Total                                           25,130         15,013

    Operating Income                                   6,477          6,514

    Interest Expense                                  (3,288)        (1,117)
    Other Income                                          26             92

      Total Other Income (Expense)                    (3,262)        (1,025)

    Income Before Income Taxes and Interest of
     Non-controlling Partners in the Partnership's
     Net Income                                        3,215          5,489
    Interest of Non-controlling Partners in the
     Partnership's Net Income                           (656)        (2,110)
    Income Tax Provision                                (987)        (1,182)

    Net Income                                        $1,572         $2,197

    Preferred Stock Dividends                           $---           $132

    Net Income Available to Common                    $1,572         $2,065
    Basic Earnings per Common Share                    $0.13          $0.19
    Diluted Earnings per Common Share                  $0.12          $0.17

    Weighted Average Shares Outstanding:
      Basic                                           12,346         10,946
      Diluted                                         12,949         12,759


     Contact:  Barry E. Davis, President and Chief Executive Officer
               William W. Davis, Executive V.P. and Chief Financial Officer
     Phone:    (214) 953-9500

SOURCE Crosstex Energy, Inc.

Barry E. Davis, President and Chief Executive Officer, or William W. Davis, Executiv
V.P. and Chief Financial Officer, both of Crosstex Energy, Inc., +1-214-953-9500
http://www.prnewswire.com

 
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