Targa Resources Partners LP Prices $200 Million Offering of Additional 51/4% Senior Notes Due 2023

Targa Resources Partners LP Prices $200 Million Offering of Additional 51/4%
Senior Notes Due 2023

HOUSTON, Dec. 4, 2012 (GLOBE NEWSWIRE) -- Targa Resources Partners LP ("Targa
Resources Partners" or the "Partnership") (NYSE:NGLS) and its subsidiary Targa
Resources Partners Finance Corporation announced today the pricing of $200
million in aggregate principal amount of its 5¼% Senior Notes due 2023 (the
"Additional Notes"). The Additional Notes notes mature May 2023 and were
priced at 101 percent of the principal amount to yield 5.093 percent. The
Additional Notes are being offered as additional notes to the Partnership's
existing $400 million aggregate principal amount of 5¼% Senior Notes due 2023
that the Partnership sold in a private placement on October 25, 2012.The
Additional Notes and the notes issued on October 25, 2012 will be treated as a
single class of debt securities and will have identical terms, other than the
issue date.

The offering is expected to close on December 10, 2012, subject to customary
closing conditions. The Partnership intends to use the net proceeds from the
offering for general partnership purposes, which may include working capital
and funding acquisitions.

The securities offered have not been registered under the Securities Act, or
any state securities laws, and unless so registered, the securities may not be
offered or sold in the United States except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The senior unsecured
notes are expected to be eligible for trading by qualified institutional
buyers under Rule 144A. This announcement shall not constitute an offer to
sell or a solicitation of an offer to buy any of these securities, except as
required by law.

Forward-Looking Statements

Certain statements in this release are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical facts, included in this release that address
activities, events or developments that the Partnership expects, believes or
anticipates will or may occur in the future are forward-looking statements.
These forward-looking statements rely on a number of assumptions concerning
future events and are subject to a number of uncertainties, factors and risks,
many of which are outside Targa Resources Partners' control, which could cause
results to differ materially from those expected by management of Targa
Resources Partners. Such risks and uncertainties include, but are not limited
to, weather, political, economic and market conditions, including a decline in
the price and market demand for natural gas and natural gas liquids, the
timing and success of business development efforts; and other uncertainties.
These and other applicable uncertainties, factors and risks are described more
fully in the Partnership's Annual Report on Form 10-K for the year ended
December 31, 2011 and other reports filed with the Securities and Exchange
Commission. Targa Resources Partners undertakes no obligation to update or
revise any forward-looking statement, whether as a result of new information,
future events or otherwise.

CONTACT: Investor contact:
         Matt Meloy
         Senior Vice President, Chief Financial Officer and Treasurer
         Joe Brass
         Director, Finance
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