ICAHN ENTERPRISES L.P. COMMENTS ON ITS PROPOSAL REGARDING DELL

(The following press release from Icahn Enterprises L.P. was received by 
e-mail. The sender verified the statement.) 
Icahn Enterprises L.P. Comments on its Proposal Regarding Dell 
(New York, New York, March 25, 2013) – 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 22nd 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 offer.   
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.                            
Investor Contact:
SungHwan Cho
Chief Financial Officer
(212) 702-4300 
(bjh) NY
 
 
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