PAA Declares Distribution on Common and Subordinated Units
(Houston – April 25, 2000) Plains All American Pipeline, L.P. (NYSE:PAA) today announced a cash distribution of $0.45 per unit on its outstanding Common Units, Class B Common Units and Subordinated Units. The distribution will be payable on May 15, 2000, to holders of record of such units at the close of business on May 5, 2000. “We are pleased to declare the distribution on all of Plains All American’s outstanding limited partnership units,” said Harry N. Pefanis, President and COO of Plains All American Inc. “This action evidences the Partnership’s strong earnings capacity and excellent financial condition.” Plains All American Pipeline, L.P. is engaged in interstate and intrastate crude oil transportation, terminalling and storage, as well as crude oil gathering and marketing activities, primarily in California, Texas, Oklahoma, Louisiana and the Gulf of Mexico. Plains All American Inc., a wholly owned subsidiary of Plains Resources Inc., holds an effective 54% interest in the Partnership and serves as its General Partner. The Partnership’s common units are traded on the New York Stock Exchange under the symbol “PAA.” Plains Resources Inc.’s common shares are traded on the American Stock Exchange under the symbol “PLX.” The Partnership is headquartered in Houston, Texas.