Icahn Enterprises L.P. Comments on its Proposal Regarding Dell

        Icahn Enterprises L.P. Comments on its Proposal Regarding Dell

PR Newswire

NEW YORK, March 25, 2013

NEW YORK, March 25, 2013 /PRNewswire/ --Icahn Enterprises L.P. ("Icahn
Enterprises") (NASDAQ: IEP) today announced that Icahn Enterprises is pleased
that the Special Committee of Dell Inc.'s Board has responded positively to
our proposal regarding Dell.

Icahn Enterprises believes that the February 5th merger agreement entered into
among Michael S. Dell, Silver Lake and Dell significantly undervalues Dell.
As set forth in our March 22^nd letter to the Special Committee, a copy of
which was attached to the press release issued by Dell earlier today, Icahn
Enterprises' proposal allows for substantial ongoing participation in Dell by
those shareholders that believe, like us, that the future for Dell is bright,
while at the same time providing $15 per share in cash to those Dell
shareholders that wish to exit Dell (up to an aggregate of $15.650 billion),
an increase of $1.35 per share in excess of the Michael Dell/Silver Lake

Icahn Enterprises' proposal, which involves an equity commitment of $2 billion
by Icahn Enterprises (including its existing approximately $1 billion holdings
of Dell stock) and $3 billion by Carl C. Icahn, reflects our desire to
continue to hold a significant position in Dell in the future. We have had
preliminary discussions with Blackstone and note that, like our proposal, the
Blackstone letter also contemplates the possibility of existing Dell holders
continuing as Dell shareholders, thereby having the opportunity to participate
in the potential for increased value at Dell, as well as the opportunity to
receive cash, and we plan to review the Blackstone proposal in greater detail.

We look forward to speaking with other holders of Dell stock in order to
garner their support for our proposal as we continue our diligence efforts and
negotiations with the Special Committee.

About Icahn Enterprises L.P.

Icahn Enterprises L.P. (NASDAQ: IEP), a master limited partnership, is a
diversified holding company engaged in nine primary business segments:
Investment, Automotive, Energy, Gaming, Railcar, Food Packaging, Metals, Real
Estate and Home Fashion.

Caution Concerning Forward-Looking Statements

This release contains certain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995, many of which are
beyond our ability to control or predict. Forward-looking statements may be
identified by words such as "expects," "anticipates," "intends," "plans,"
"believes," "seeks," "estimates," "will" or words of similar meaning and
include, but are not limited to, statements about the expected future business
and financial performance of Icahn Enterprises L.P. and its subsidiaries.
Among these risks and uncertainties are risks related to economic downturns,
substantial competition and rising operating costs; risks related to our
investment activities, including the nature of the investments made by the
private funds in which we invest, losses in the private funds and loss of key
employees; risks related to our automotive activities, including exposure to
adverse conditions in the automotive industry, and risks related to operations
in foreign countries; risks related to our energy business, including the
volatility and availability of crude oil, other feed stocks and refined
products, unfavorable refining margin (crack spread), interrupted access to
pipelines, significant fluctuations in nitrogen fertilizer demand in the
agricultural industry and seasonality of results; risk related to our gaming
operations, including reductions in discretionary spending due to a downturn
in the local, regional or national economy, intense competition in the gaming
industry from present and emerging internet online markets and extensive
regulation; risks related to our railcar activities, including reliance upon a
small number of customers that represent a large percentage of revenues and
backlog, the health of and prospects for the overall railcar industry and the
cyclical nature of the railcar manufacturing business; risks related to our
food packaging activities, including competition from better capitalized
competitors, inability of its suppliers to timely deliver raw materials, and
the failure to effectively respond to industry changes in casings technology;
risks related to our scrap metals activities, including potential
environmental exposure; risks related to our real estate activities, including
the extent of any tenant bankruptcies and insolvencies; risks related to our
home fashion operations, including changes in the availability and price of
raw materials, and changes in transportation costs and delivery times; and
other risks and uncertainties detailed from time to time in our filings with
the Securities and Exchange Commission. Past performance in our Investment
segment is not necessarily indicative of future performance. We undertake no
obligation to publicly update or review any forward-looking information,
whether as a result of new information, future developments or otherwise.

SOURCE Icahn Enterprises L.P.

Contact: Investor: SungHwan Cho, Chief Financial Officer, +1-212-702-4300
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