News Releases

Enbridge Energy Partners, L.P. Completes Common Units and Notes Offerings

Enbridge Energy Partners, L.P. (EEP), in May 2003, completed a public offering of 3,852,500 Class A common units and a Rule 144A/Regulation S offering of $200 million 4.75% Notes due 2013 and $200 million 5.95% Notes due 2033.

The joint book-running managers for the common units public offering were UBS Warburg LLC and Lehman Brothers Inc. Citigroup Global Markets Inc. and Banc of America Securities LLC served as joint book-running managers for the Rule 144A/Regulation S notes offering. The combined net proceeds of the offerings were approximately $561 million.

EEP is a publicly traded Delaware limited partnership that owns and operates crude oil and liquid petroleum transportation assets and natural gas gathering, treating, processing, transmission and marketing assets in the United States. EEP was formed in 1991 by Enbridge Energy Company to own and operate the U.S. portion of a crude oil and liquid petroleum pipeline system extending from western Canada through the upper and lower Great Lakes region of the United States to eastern Canada. Enbridge Inc. owns the Canadian portion of the system. EEP has recently diversified its operations by acquiring a crude oil gathering and transportation system in North Dakota and natural gas gathering, treating, processing and transmission assets, located in the Gulf Coast and Mid-continent regions of the United States.

Team: Joe Poff, Felix Phillips, Stan Beyer, Mark Robeck, Chris Arntzen, Paul Perea, Steve Lindsey, Bill Moss, Jeff Starzec, Scott Janoe, Joe Yu and Jason Jean, all of Houston; Cindy Smiley of Austin; and Mark Cook of Washington D.C., represented the underwriters for the common units offering and the initial purchasers for the notes offering.