Energy Transfer Partners, L.P. (NYSE: ETP) today announced that its previously announced public offering of 15,525,000 common units representing limited partner interests at $44.57 per common unit, which includes 2,025,000 common units purchased pursuant to the full exercise of the underwriters’ option to purchase additional common units, has closed. Net proceeds from the offering will be used by ETP to repay amounts outstanding under its amended and restated revolving credit facility, to fund capital expenditures related to pipeline construction projects and for general partnership purposes.

BofA Merrill Lynch, Barclays, Morgan Stanley, UBS Investment Bank, Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan, and Wells Fargo Securities acted as joint book-running managers. Raymond James and RBC Capital Markets acted as senior co-managers and Stifel Nicolaus Weisel and Simmons & Company International acted as junior co-managers. A copy of the prospectus supplement and prospectus relating to the offering may be obtained from the following addresses:

You may also obtain these documents for free by visiting EDGAR on the SEC web site at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The offering has been made pursuant to an effective shelf registration statement and prospectus filed by ETP with the SEC.

Energy Transfer Partners, L.P. (NYSE: ETP) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Alabama, Arizona, Arkansas, Colorado, Florida, Louisiana, Mississippi, New Mexico, Utah and West Virginia and owns the largest intrastate pipeline system in Texas. ETP currently has natural gas operations that include approximately 24,000 miles of gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP also holds a 70 percent interest in Lone Star NGL, a joint venture that owns and operates NGL storage, fractionation and transportation assets in Texas, Louisiana and Mississippi. ETP’s general partner is owned by Energy Transfer Equity, L.P. (NYSE: ETE).

Statements about the offering may be forward-looking statements. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of ETP, and a variety of risks that could cause results to differ materially from those expected by management of ETP. ETP undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.