EPL Repurchases EIF Shares with Proceeds from Stock Offering

Energy Partners, Ltd. (NYSE:EPL) intends to offer 3,467,144 shares of common stock to the public pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission.

EPL also will enter into a stock purchase agreement with Energy Income Fund, L.P. ("EIF") concurrent with this offering, pursuant to which EPL will purchase 3,467,144 shares of common stock owned by EIF at a price per share equal to the net proceeds per share received in the offering, before expenses. EPL expects that it will purchase these shares immediately after the closing of the offering.

The securities may not be sold nor any offers to buy be accepted prior to the time that the prospectus supplement is final. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering may be made only by means of a prospectus and related prospectus supplement.

The common stock offering will be lead managed by Credit Suisse First Boston LLC and Raymond James & Associates, Inc. with Credit Suisse First Boston acting as sole book-running manager. A copy of the preliminary prospectus supplement for the offering may be obtained from the offices of Credit Suisse First Boston, Eleven Madison Avenue, New York, NY 10010.
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