ENERGY TRANSFER PARTNERS REPORTS QUARTERLY RESULTS FOR THE PERIOD ENDED JUNE 30th

Dallas, Texas — August 11, 2008 — VIew Accompanying Charts

Energy Transfer Partners, L.P. (NYSE:ETP) today reported EBITDA, as adjusted, and net income for the second quarter ended June 30, 2008. EBITDA, as adjusted, for the three months ended June 30, 2008 totaled $292.0 million, an increase of $47.3 million over the three months ended May 31, 2007. Net income for the three months ended June 30, 2008 totaled $165.7 million, an increase of $8.2 million over the three months ended May 31, 2007.

For the six months ended June 30, 2008, EBITDA, as adjusted, totaled $732.4 million, an increase of $82.5 million over the six months ended May 31, 2007. Net income for the six months ended June 30, 2008 totaled $494.0 million, an increase of $25.4 million over the six months ended May 31, 2007.

“We are extremely pleased with second quarter results as each of our operating segments met or exceeded our expectations,” said Martin Salinas, Energy Transfer Partners’ Chief Financial Officer. “Our core intrastate assets continue to generate strong earnings due principally to increasing demand for transportation capacity on our extensive network of pipelines out of the Barnett Shale and Bossier Sands. As we turn our attention to the remainder of the year, we will continue to bring into service many of the announced natural gas pipeline projects which we expect will provide increased earnings and cash flow during the remainder of 2008 and into 2009,” added Mr. Salinas.

ETP also announced that it has filed its quarterly report on Form 10-Q for the period ended June 30, 2008 with the Securities and Exchange Commission. ETP has posted a copy of this Form 10-Q on its website at www.energytransfer.com.

The Partnership has scheduled a conference call for 10:00 a.m. Central Time, Tuesday, August 12, 2008 to discuss the second quarter results. The dial-in number is 1-888-428-4479, participant code: Energy Transfer. The call will be available for replay on the Partnership’s website for a limited time.

EBITDA, as adjusted, is a non-GAAP financial measure used by industry analysts, investors, lenders, and rating agencies to assess the financial performance and the operating results of the Partnership’s fundamental business activities and should not be considered in isolation or as a substitute for net income, income from operations, or other measures of cash flow. A table reconciling EBITDA, as adjusted, with appropriate GAAP financial measures is included in the summarized financial information included in this release.

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 Arizona, Colorado, Louisiana, New Mexico, and Utah, and owns the largest intrastate pipeline system in Texas. ETP’s natural gas operations include intrastate natural gas gathering and transportation pipelines, natural gas treating and processing assets and three natural gas storage facilities located in Texas. These assets include approximately 14,450 miles of intrastate pipeline in service, with approximately 350 miles of intrastate pipeline under construction. In addition, ETP owns 2,400 miles of interstate pipeline in service, with approximately 250 miles of interstate pipeline under construction. ETP is also one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.

Energy Transfer Equity, L.P. (NYSE:ETE) is a publicly traded partnership, which owns the general partner of Energy Transfer Partners and approximately 62.5 million ETP limited partner units.

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