Texas Petrochemicals LP Announces Consent Solicitation and Special Conversion for Its 7-1/4% Senior Secured Convertible Notes Due 2009

Texas Petrochemicals LP (the "Company"), a subsidiary of Texas Petrochemicals, Inc. (OTC: TXPI) (the "Parent"), today announced that the Company and its subsidiary TP Capital Corp. (together, the "Issuers") have successfully completed the special conversion offer relating to the Issuers' $60,000,000 7-1/4% Senior Secured Convertible Notes due April 30, 2009 (the "Notes"). The special conversion offer and related consent solicitation both expired on December 28, 2005 at 5:00 p.m., New York City time (the "Expiration Time"). As of the Expiration Time, the holders of all of the issued outstanding Notes submitted their Notes for conversion in the special conversion offer. The settlement date for the special conversion is expected to be December 30, 2005.

This press release does not constitute an offer to purchase any securities or a solicitation of an offer to sell any securities. The special conversion and related consent solicitation are being made only pursuant to a notice of special conversion, a consent solicitation statement and related documents and only to such persons and in such jurisdictions as is permitted under applicable law.

Cautionary Information Regarding Forward-Looking Statements

Certain oral and written information that the Parent and the Issuers may make publicly available from time to time may constitute forward-looking statements. Such statements may relate to future operating results, existing and expected competition, financing and refinancing sources and availability, and plans related to acquisitions or other future expansion activities and capital expenditures. Forward-looking statements involve a number of risks and uncertainties that may significantly affect the Parent and the Issuers' liquidity and results in the future and, accordingly, actual results may differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, those related to effects of competition, leverage and debt service, financing and refinancing efforts, litigation and governmental investigations, environmental laws and regulations, general economic conditions and changes in laws or regulations.

CONTACT: Christopher Artzer PHONE: 713.475.5201