OVERLAND PARK, Kan., July 29 /PRNewswire-FirstCall/ -- Ferrellgas Partners, L.P. (NYSE: FGP) today announced the closing of the sale of certain non-strategic storage and terminal assets from its operating partnership to Enterprise Products Partners L.P. (NYSE: EPD).

In accordance with the terms of the asset purchase agreement, which was announced on June 23, 2005, the assets were sold for $144 million in cash, plus a post-closing payment for, among other things, accounts receivable and inventories. Included in the sale were the company's underground storage facilities in Adamana, Arizona; Hutchinson, Kansas; and Moab, Utah; along with rail and pipeline-to-truck terminals and storage facilities in Inver Grove Heights, Minnesota; Jackson, Minnesota; Sylva, North Carolina; and Aberdeen, North Carolina.

Ferrellgas will maintain a certain level of storage volume and terminal throughput with Enterprise Products Partners at the storage and terminal facilities for a period of five years, with the option to extend for an additional five years.

Ferrellgas Partners, L.P., through its operating partnership, Ferrellgas, L.P., currently serves more than one million customers in all 50 states, Puerto Rico, the U.S. Virgin Islands and Canada. Ferrellgas employees indirectly own more than 18 million common units of Ferrellgas Partners through an employee stock ownership plan.

Statements in this release concerning expectations for the future are forward-looking statements. A variety of known and unknown risks, uncertainties and other factors could cause results, performance and expectations to differ materially from anticipated results, performance and expectations. These risks, uncertainties and other factors are discussed in the Annual Report on Form 10-K of Ferrellgas Partners, L.P., Ferrellgas Partners Finance Corp., Ferrellgas, L.P. and Ferrellgas Finance Corp. for the fiscal year ended July 31, 2004, the Quarterly Report on Form 10-Q of these entities for the fiscal quarter ended April 30, 2005, and other documents filed from time to time by these entities with the Securities and Exchange Commission.

Contact:

Ryan VanWinkle, Investor Relations, 913-661-1528

Scott Brockelmeyer, Media Relations, 913-661-1830

SOURCE Ferrellgas Partners, L.P.

CONTACT: Ryan VanWinkle, Investor Relations, +1-913-661-1528
Scott Brockelmeyer, Media Relations, +1-913-661-1830
both of Ferrellgas Partners, L.P.
Web site: http://www.ferrellgas.com