Plains All American Acquires Louisiana Assets from Shell

Plains All American Pipeline has acquired south Louisiana crude oil pipeline assets from Shell Pipeline Company LLC. The purchase price for the assets was approximately $12 million and was funded with cash on hand and borrowings under the Partnership's revolving credit facility. The effective date of the acquisition is January 1, 2005.

"The Capline and Link acquisitions that we completed in 2004 have established a strong platform for further growth and consolidation of Gulf Coast crude oil assets," said George R. Coiner, Senior Group Vice President of the Partnership. "These Shell assets fit extremely well with our existing operations in the area and enhance our ability to service our producer and refinery customers in south Louisiana." Coiner also stated that the Partnership intends to spend approximately $8 million during 2005 to make modifications and improvements to the acquired assets and to integrate them into Plains All American's existing asset base.

The primary assets that are included in the acquisition are as follows:

     * Terrebonne Bay Gathering System     * Golden Meadow Gathering System
     * Bay St. Elaine Pipeline             * Turtle Bayou Gathering System
     * Cocodrie to Houma Pipeline          * Patterson Station
     * Cocodrie Station


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