VLI Valero Lp

Valero L.P. (NYSE:VLI) today announced that it has successfully completed the purchase of the St. James Crude Oil facility located in Louisiana from Koch Supply and Trading, L.P. for $140 million. The acquisition will be financed with a borrowing under the partnership�s revolving credit facility. The acquisition includes 17 crude oil tanks and three heated refined product tanks with a total capacity of approximately 3.3 million barrels. Additionally, the facility has a rail-loading facility and three docks with barge and ship access. The facility is located on approximately 220 acres of land on the west bank of the Mississippi River approximately 60 miles west of New Orleans and has an additional 585 acres of undeveloped land. As previously mentioned, the acquisition is expected to be immediately accretive to the partnership�s distributable cash flow per unit. �We�re excited that we�ve completed the acquisition of the St. James facility, which we believe is a strategic fit with our existing terminal business and will provide excellent growth opportunities,� said Curt Anastasio, President and CEO of Valero L.P. �We look forward to starting several major expansion projects we have planned for this facility in the near future.� Valero L.P. is a publicly traded, limited partnership based in San Antonio, with 9,303 miles of pipeline, 86 terminal facilities and four crude oil storage facilities. One of the largest independent terminal and petroleum liquids pipeline operators in the nation, the partnership has operations in the United States, the Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom. The partnership�s combined system has approximately 77 million barrels of storage capacity, and includes crude oil and refined product pipelines, refined product terminals, a petroleum and specialty liquids storage and terminaling business, as well as crude oil storage tank facilities. For more information, visit Valero L.P.'s website at www.valerolp.com. Cautionary Statement Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995 regarding future events and the future financial performance of Valero L.P. All forward-looking statements are based on the partnership's beliefs as well as assumptions made by and information currently available to the partnership. These statements reflect the partnership's current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in Valero L.P.'s 2005 annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Valero L.P. (NYSE:VLI) today announced that it has successfully completed the purchase of the St. James Crude Oil facility located in Louisiana from Koch Supply and Trading, L.P. for $140 million. The acquisition will be financed with a borrowing under the partnership's revolving credit facility. The acquisition includes 17 crude oil tanks and three heated refined product tanks with a total capacity of approximately 3.3 million barrels. Additionally, the facility has a rail-loading facility and three docks with barge and ship access. The facility is located on approximately 220 acres of land on the west bank of the Mississippi River approximately 60 miles west of New Orleans and has an additional 585 acres of undeveloped land. As previously mentioned, the acquisition is expected to be immediately accretive to the partnership's distributable cash flow per unit. "We're excited that we've completed the acquisition of the St. James facility, which we believe is a strategic fit with our existing terminal business and will provide excellent growth opportunities," said Curt Anastasio, President and CEO of Valero L.P. "We look forward to starting several major expansion projects we have planned for this facility in the near future." Valero L.P. is a publicly traded, limited partnership based in San Antonio, with 9,303 miles of pipeline, 86 terminal facilities and four crude oil storage facilities. One of the largest independent terminal and petroleum liquids pipeline operators in the nation, the partnership has operations in the United States, the Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom. The partnership's combined system has approximately 77 million barrels of storage capacity, and includes crude oil and refined product pipelines, refined product terminals, a petroleum and specialty liquids storage and terminaling business, as well as crude oil storage tank facilities. For more information, visit Valero L.P.'s website at www.valerolp.com. Cautionary Statement Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995 regarding future events and the future financial performance of Valero L.P. All forward-looking statements are based on the partnership's beliefs as well as assumptions made by and information currently available to the partnership. These statements reflect the partnership's current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in Valero L.P.'s 2005 annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission.