Plains All American Expands and Extends Credit Facilities

Plains All American Pipeline has increased the committed borrowing capacity on its principal revolving credit facility from $900 million to $1 billion. The credit facility includes a sub-facility for Canadian borrowings that was increased from $360 to $400 million. In addition, the amendment increased the aggregate capacity of the facility to $1.5 billion at the option of the Partnership, subject to obtaining additional commitments from lenders. The facility, as amended, has a final maturity of November 2010.

The Partnership also extended the maturity of its $800 million, uncommitted hedged inventory facility to November 2006. This facility is used to finance the purchase of hedged crude oil inventory for storage when market conditions warrant.

Al Swanson, Vice President -- Finance and Treasurer of the Partnership, noted that the amendments are part of the Partnership's ongoing efforts to preserve and increase the Partnership's liquidity and financial flexibility.