Inergy, L.P., Files With Securities and Exchange Commission; Kansas City-Based Propane Marketing and Distribution Firm Submits S-1 For Initial Public Offering

Business Wire, March 14, 2001

Business Editors

KANSAS CITY, Mo.--(BUSINESS WIRE)--March 14, 2001

Inergy, L.P., today announced it has filed with the Securities and Exchange Commission a registration statement on Form S-1 relating to an initial public offering of 1,500,000 common units. The partnership is principally engaged in retail and wholesale propane marketing and distribution.

Approximately 1,500,000 units, representing an aggregate ownership of 27.3 percent of the partnership, will be included in the proposed offering. Inergy intends to list the common units on the Nasdaq National Market under the symbol "NRGY." Management of the offering will be led by A.G. Edwards & Sons, Inc., and co-managed by First Union Securities and Raymond James & Associates. Inergy, L.P., is headquartered in Kansas City, Missouri.

Inergy's retail business includes the retail marketing, sale and distribution of propane, including the sale and lease of propane supplies and equipment, to residential, commercial, industrial and agricultural customers.

The partnership serves approximately 71,000 retail customers from 31 customer service centers, including approximately 1.8 million gallons of above-ground propane storage capacity in Georgia, Illinois, Indiana, Michigan, North Carolina, Ohio, Tennessee, Virginia and Wisconsin. The partnership also provides wholesale supply and distribution services to approximately 350 customers in 24 states, primarily in the Midwest and Southeast.

The registration statement filed with the Securities and Exchange Commission has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities law in any such state.

Portions of this document may constitute "forward-looking statements" as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "sage harbor" protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company's annual reports filed with the Securities and Exchange Commission.