Crestwood Equity Partners Announces Increase in Quarterly Cash Distribution

  Crestwood Equity Partners Announces Increase in Quarterly Cash Distribution

        Earnings Release and Conference Call Scheduled for November 7

Business Wire

HOUSTON -- October 24, 2013

The Board of Directors of Crestwood Equity GP LLC, general partner of
Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood Equity”) announced that
it has declared the partnership’s quarterly cash distribution of $0.135 per
limited partner unit ($0.54 annually) for the quarter ended September 30,
2013. The distribution will be paid on November 14, 2013, to unitholders of
record as of November 7, 2013.

Crestwood Equity and Crestwood Midstream Partners LP (NYSE: CMLP) each plan to
report financial results for the third quarter 2013 on Thursday, November 7,
2013, before the New York Stock Exchange opens for trading. Following the
announcement, management will host a joint conference call for investors and
analysts at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) that day to
discuss the operating and financial results. The call will be broadcast live
over the internet. Investors may participate either by phone or audio webcast.

              Dial 480-629-9678 at least 10 minutes before the call and ask
By Phone:    for the Crestwood Earnings Call. A replay will be available for
              7 days by dialing 303-590-3030 and using the access code
              4647444.

              Connect to the webcast via the “Presentations” page of
              Crestwood’s Investor Relations website at www.crestwoodlp.com.
By Webcast:   Please log in at least 10 minutes in advance to register and
              download any necessary software. A replay will be available
              shortly after the call for 90 days.
              

About Crestwood Equity Partners LP

Houston, Texas, based Crestwood Equity (NYSE: CEQP) is a master limited
partnership that owns the general partner interest (including the incentive
distribution rights) and an approximate 4% limited partner interest of
Crestwood Midstream. In addition, Crestwood Equity’s operations include a
natural gas storage business in Texas and an NGL and crude oil supply and
logistics business that serves customers in the United States and Canada.
Prior to the merger of Crestwood Midstream Partners LP into Inergy Midstream,
L.P., which was completed on October 7, 2013, Crestwood Equity Partners LP was
named Inergy, L.P. and was traded on the New York Stock Exchange under the
ticker symbol “NRGY.”

About Crestwood Midstream Partners LP

Houston, Texas, based Crestwood Midstream (NYSE: CMLP) is a master limited
partnership that owns and operates midstream businesses in multiple
unconventional shale resource plays across the United States. Crestwood
Midstream is engaged in the gathering, processing, treating and compression of
natural gas; transportation and storage of natural gas; transportation,
fractionation, storage, and terminalling of NGLs; and storage and terminalling
of crude oil. Prior to the merger of Crestwood Midstream Partners LP into
Inergy Midstream, L.P., which was completed on October 7, 2013, the
partnership was named Inergy Midstream, L.P. and was traded on the New York
Stock Exchange under the ticker symbol “NRGM.”

Forward-Looking Statements

This press release may include certain statements concerning expectations for
the future that are forward-looking statements as defined by federal law. Such
forward-looking statements are subject to a variety of known and unknown
risks, uncertainties, and other factors that are difficult to predict and many
of which are beyond management’s control. These risks and assumptions are
described in Crestwood Equity’s annual reports on Form 10-K and other reports
that are available from the United States Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on forward-looking
statements, which reflect management’s view only as of the date made. We
undertake no obligation to update any forward-looking statement, except as
otherwise required by law.

Tax Notice to Foreign Investors

This release serves as qualified notice to nominees under Treasury Regulation
Sections 1.1446-4(b)(4) and (d). Please note that 100% of Crestwood Equity’s
distributions to foreign investors are attributable to income that is
effectively connected with a United States trade or business. Accordingly, all
of Crestwood Equity’s distributions to foreign investors are subject to
federal income tax withholding at the highest effective tax rate for
individuals or corporations, as applicable. Nominees, and not Crestwood
Equity, are treated as the withholding agents responsible for withholding on
the distributions received by them on behalf of foreign investors.

Contact:

Investors:
Crestwood Equity Partners LP
Mark Stockard, 832-519-2207
mstockard@crestwoodlp.com
 
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