TEPPCO’s Governance

• Our governance model is one of full disclosure

• Strong focus on protecting interests of limited partners and avoiding conflicts with general partner

  • TEPPCO general partner managed with high degree of independence
  • Management and employee incentives aligned with limited partners’ interest
  • Special Committee of outside directors utilized whenever potential conflicts arise
  • Demonstrated record of “win-win” relationship with DEFS

Strict governance ensures high degree ofinvestor confidence

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