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

DALLAS, Aug. 9 /PRNewswire-FirstCall/ -- Crosstex Energy, Inc. (Nasdaq: XTXI) (the Corporation) today reported net income of $1.7 million for the second quarter of 2005, compared to net income of $2.4 million for the comparable period in 2004. The Corporation's net income before income taxes and interest of non-controlling partners in the net income of Crosstex Energy, L.P. (Nasdaq: XTEX) (the Partnership) was $4.4 million in the second quarter of 2005 and $5.9 million in the second quarter of 2004.

The Corporation's share of distributions, including distributions on its ten million limited partner units, its two percent general partner interest, and the incentive distribution rights, was $7.1 million for the second quarter. Its share of the distribution in the second quarter of 2004 was $5.7 million. The recently announced increase in the Partnership's distribution of $0.01 per unit increased the Corporation's share of distributions by $0.3 million, from $6.8 million in the first quarter of 2005 to $7.1 million in the second quarter of 2005.

About Crosstex

Crosstex Energy, Inc. owns the general partner, a 51 percent limited partner interest in 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 approximately 100 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)

                                    Quarter Ended          Six Months Ended
                                       June 30,                June 30,
                                   2005       2004         2005        2004
    Revenues
      Midstream                 $619,432   $507,744   $1,158,996   $825,957
      Treating                    11,040      7,568       20,947     14,712
      Profit on Energy Trading
       Activities                    399        826          444      1,246
                                 630,871    516,138    1,180,387    841,915
    Cost of Gas
      Midstream                  594,482    485,212    1,110,898    788,088
      Treating                     1,711      1,487        3,204      2,863

                                 596,193    486,699    1,114,102    790,951

    Gross Margin                  34,678     29,439       66,285     50,964

    Operating Expenses            12,183     10,377       23,731     16,653
    General & Administrative       8,144      5,213       14,824      9,234
    Loss (Gain) on Sale
     of Property                    (120)       (22)        (164)       274
    Depreciation and
     Amortization                  7,384      5,921       14,330     10,339

        Total                     27,591     21,489       52,721     36,500

    Operating Income               7,087      7,950       13,564     14,464

    Interest Expense              (3,057)    (2,180)      (6,345)    (3,297)
    Other Income                     320        112          346        204
          Total Other Expense     (2,737)    (2,068)      (5,999)    (3,093)
    Income Before Income Taxes
     and Interest of
     Non-controlling Partners
     in the Partnership's
     Net Income                    4,350      5,882        7,565     11,371
    Income Tax Provision          (1,047)    (1,365)      (2,034)    (2,547)
    Interest of Non-controlling
     Partners in the
     Partnership's Net Income     (1,557)    (2,101)      (2,213)    (4,211)
    Net Income                  $  1,746   $  2,416    $   3,318   $  4,613

    Preferred Stock Dividends   $    ---   $    ---    $     ---   $   (132)
    Net Income Available to
     Common
    Shareholders                $  1,746   $  2,416    $   3,318   $  4,481

    Basic Earnings per Common
     Share                      $   0.14   $   0.20    $    0.26   $   0.39

    Diluted Earnings per Common
     Share                      $   0.14   $   0.19    $    0.26   $   0.36

    Weighted Average Shares
     Outstanding:
       Basic                      12,736     12,096       12,542     11,521
       Diluted                    12,878     12,830       12,929     12,796



     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.
    -0-                             08/09/2005
    /CONTACT:  Barry E. Davis, President and Chief Executive Officer, or
William W. Davis, Executive V.P. and Chief Financial Officer, both of Crosstex
Energy, Inc., +1-214-953-9500/
    /Web site:  http://www.crosstexenergy.com /
    (XTXI XTEX)

CO:  Crosstex Energy, Inc.; Crosstex Energy, L.P.
ST:  Texas
IN:  OIL
SU:  ERN

KS-CD
-- DATU017A --
8500 08/09/2005 07:04 EDT http://www.prnewswire.com

 
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