PAA Declares Distribution on Common and Subordinated Units
(Houston – October 24, 2002) Plains All American Pipeline, L.P. (NYSE: PAA) today
announced a cash distribution of $0.5375 per unit on its outstanding limited partner units, which include Common Units, Class B Common Units and Subordinated Units. The distribution will be payable on November 14, 2002, to holders of record of such units at the close of business on November 4, 2002. The distribution represents an effective annualized distribution rate of $2.15 per unit.
Plains All American Pipeline, L.P. is engaged in interstate and intrastate crude oil
transportation, terminalling and storage as well as crude oil and LPG gathering and marketing activities, primarily in Texas, California, Oklahoma and Louisiana and the Canadian Provinces of Alberta, Saskatchewan and Manitoba. The Partnership’s common units are traded on the New York Stock Exchange under the symbol “PAA.” The Partnership is headquartered in Houston, Texas.
# # #