DALLAS--(BUSINESS WIRE)--July 28, 2004--The Crosstex Energy
companies, Crosstex Energy, L.P. (NasdaqNM:XTEX) (the Partnership) and
Crosstex Energy Inc. (NasdaqNM:XTXI) (the Corporation), today
announced second quarter distributions and dividends:
-- Quarterly distributions on the Partnership's common and
subordinated units will increase from $0.40 per unit to $0.42
per unit, payable Aug. 19 to unitholders of record on Aug. 6.
-- Quarterly dividends on the Corporation's common stock will
increase from $0.30 per common share to $0.33 per common
share, payable Aug. 19 to shareholders of record on Aug. 6.
"This increase in cash distributions and dividends is based on our
second quarter operating results, which includes the successful
integration of the LIG Pipeline Company transaction that closed in
April," said Barry E. Davis, president and chief executive officer of
the Crosstex Energy companies. "It is our intention to directly share
the companies' operating success with our unitholders and shareholders
through growth in cash distributions, which we have done every quarter
since the Partnership's initial public offering in December 2002, and
growth in dividends."
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company
headquartered in Dallas, operates approximately 4,500 miles of
pipeline, five processing plants and over 60 natural gas amine
treating plants. The Partnership currently provides services for over
1.5 BCF/day of natural gas.
Crosstex Energy Inc. owns the general partner, a 54.3 percent
limited partner interest and the incentive distribution rights of
Crosstex Energy, L.P.
Additional information about the companies can be found at
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements.
Although the companies believe that the expectations reflected in the
forward-looking statements are reasonable, they can give no assurance
that such expectations will prove to be correct.
CONTACT: Crosstex Energy, L.P., Dallas
Barry E. Davis, 214-953-9500
William W. Davis, 214-953-9500
SOURCE: Crosstex Energy, L.P.