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Pacific Energy Partners, L.P. (NYSE:PPX) ("Pacific
Energy" or the "Partnership") announced that it has set the close of
business on September 18, 2006, as the record date for determining the
unitholders entitled to receive notice of, and to vote at, the special
meeting to be held to consider the proposed merger transaction with
Plains All American Pipeline, L.P. ("Plains"). The time, date and
location of the unitholder meeting will be announced at a later date.
In addition to the approval of the unitholders of Plains and
Pacific Energy, the completion of the transaction remains subject to
approvals of certain state utility commissions and other regulatory
bodies. Pacific Energy anticipates closing the transaction in the
fourth quarter of 2006.
About Pacific Energy:
Pacific Energy Partners, L.P. is a master limited partnership
headquartered in Long Beach, California. Pacific Energy is engaged
principally in the business of gathering, transporting, storing and
distributing crude oil, refined products and other related products.
Pacific Energy generates revenues by transporting such commodities on
its pipelines, by leasing capacity in its storage facilities and by
providing other terminaling services. Pacific Energy also buys and
sells crude oil, activities that are generally complementary to its
crude oil operations. Pacific Energy conducts its business through two
business units, the West Coast Business Unit, which includes
activities in California and the Philadelphia, PA, area, and the Rocky
Mountain Business Unit, which includes activities in five Rocky
Mountain states and Alberta, Canada.
For additional information about the partnership, please visit
www.PacificEnergy.com.
Investor Notice:
Pacific Energy and Plains have filed a joint proxy
statement/prospectus and other documents with the Securities and
Exchange Commission ("SEC") with respect to the proposed merger of
Pacific Energy with and into Plains. Upon being declared effective by
the SEC, a definitive joint proxy statement/prospectus will be sent to
security holders of Pacific Energy and Plains seeking their approval
of the merger and related transactions. Investors and security holders
are urged to carefully read the joint proxy statement/prospectus
because it contains important information, including detailed risk
factors, regarding Pacific Energy, Plains and the merger. Investors
and security holders may obtain a free copy of the definitive joint
proxy statement/prospectus, when it becomes available, and other
documents containing information about Pacific Energy and Plains,
without charge, at the SEC's web site at www.sec.gov. Copies of the
definitive joint proxy statement/prospectus, when it becomes
available, and the SEC filings that are incorporated by reference in
the joint proxy statement/prospectus may also be obtained free of
charge by directing a request to Pacific Energy or Plains. Pacific
Energy or Plains and the officers and directors of the respective
general partners of Pacific Energy or Plains may be deemed to be
participants in the solicitation of proxies from their security
holders in connection with the proposed transaction. Information about
these persons can be found in Pacific Energy's or Plains' respective
Annual Reports on Form 10-K filed with the SEC, and additional
information about such persons may be obtained from the joint proxy
statement/prospectus.