Crosstex Completes Sale of Seminole Gas Processing Plant and Another Asset for $105.0 Million; Amends Debt Covenants

Crosstex Energy, L.P. announced that it continues to execute its near-term operating strategy to increase liquidity, reduce leverage and improve profitability. The Partnership has completed the sale of its undivided 12.4 percent interest in the Seminole gas processing plant to plant operator Hess Corporation for $85.0 million. In addition to the Seminole transaction, the Partnership completed the sale of another nonstrategic asset for $20.0 million, which resulted in total proceeds from both transactions of $105.0 million. Crosstex also completed the amendment of its existing debt covenants to create additional room to operate.

“In these times of challenging capital markets and a continually changing business environment, we are pushing ahead to execute our strategy,” said Barry E. Davis, Crosstex Chairman, President and Chief Executive Officer. “We have said that one of our primary actions to improve liquidity is to divest nonstrategic assets. We have completed the first steps in our plan – the agreement to sell the Seminole plant, the closing of the second asset sale and the completion of the amendment with our lenders. We will use the proceeds from the asset sales to pay down debt.”

The Seminole plant is a tertiary recovery facility operated to reinject carbon dioxide into the San Andres unit in Gaines County, Texas. Crosstex’s interest in the facility was accounted for as part of the Treating Division.

About the Crosstex Energy Companies

Crosstex Energy, L.P., a midstream natural gas company headquartered in Dallas, operates approximately 5,700 miles of pipeline, 12 processing plants, four fractionators, and approximately 195 natural gas amine-treating plants and dew-point control plants. Crosstex currently provides services for 4.0 billion cubic feet per day of natural gas, or approximately eight percent of marketed U.S. daily production.

Crosstex Energy, Inc. (NASDAQ: XTXI) (the Corporation) owns the two percent general partner interest, a 34 percent limited partner interest, and the incentive distribution rights of Crosstex Energy, L.P.

Additional information about the Crosstex companies can be found at www.crosstexenergy.com.