##### 



Execution Copy
  
 SECURITIES PURCHASE AGREEMENT
 By and Between
 ENTERPRISE GP HOLDINGS L.P.,
 and
 DFI GP HOLDINGS, L.P.
 and
 DUNCAN FAMILY INTERESTS, INC.,
 as the Sellers
 May 7, 2007




---



##### 



TABLE OF CONTENTS
 PageARTICLE I
DEFINITIONS
    
    
    1Section 1.1 Definitions
    
    
    1Section 1.2 Rules of Construction
    
    
    7ARTICLE II
PURCHASE AND SALE
    
    
    8Section 2.1 Closing
    
    
    8ARTICLE III
REPRESENTATIONS AND WARRANTIES
    
    
    9Section 3.1 Representations and Warranties of the Sellers
    
    
    9Section 3.2 Representations and Warranties of EPE
    
    
    12Section 3.3 Representations and Warranties Concerning TEPPCO GP and TEPPCO MLP
    
    
    15ARTICLE IV
COVENANTS AND AGREEMENTS
    
    
    27Section 4.1 Commercially Reasonable Efforts; Further Assurances
    
    
    27Section 4.2 No Public Announcement
    
    
    27Section 4.3 Expenses
    
    
    27Section 4.4 Tax Matters
    
    
    27Section 4.5 Unitholder Approval of Amendment to EPE Partnership Agreement
    
    
    27ARTICLE V
REMEDIES FOR DEFAULT
    
    
    27Section 5.1 Indemnity Regarding Section 3.1 and Section 3.3 Representations and Covenants
    
    
    27Section 5.2 Indemnity Regarding Section 3.2 Representations and Covenants
    
    
    28Section 5.3 Survival of Representations
    
    
    28Section 5.4 Calculation of Damages
    
    
    29Section 5.5 Enforcement of this Agreement
    
    
    29Section 5.6 Exclusive Remedy
    
    
    29Section 5.7 Limitation on Damages
    
    
    29Section 5.8 No Waiver Relating to Claims for Fraud/Willful Misconduct
    
    
    29ARTICLE VI
MISCELLANEOUS
    
    
    30Section 6.1 Notices
    
    
    30Section 6.2 Governing Law; Jurisdiction; Waiver of Jury Trial
    
    
    31Section 6.3 Entire Agreement; Amendments and Waivers
    
    
    31Section 6.4 Binding Effect and Assignment
    
    
    31Section 6.5 Severability
    
    
    32
 i




---



##### 



PageSection 6.6 Execution
    
    
    32Section 6.7 Disclosure Letters
    
    
    32
 Exhibits
  ii




---



##### 



SECURITIES PURCHASE AGREEMENT
 Agreement Execution
Date EPE DFIGP DFI Sellers
 W I T N E S S E T H:
 TEPPCO GP TEPPCO MLP
 Common Units
 Membership Interest Offered Units Class B Units Class C Units Exhibit A
  ARTICLE I
DEFINITIONS
 Section 1.1 Definitions
 2006 10-K
 affiliate
 Agreement
 Amendment to EPE Partnership Agreement Exhibit A




---



##### 



Business Day
 Closing Section 2.1(a)
 Class B Units
 Class C Units
 Closing Date Section 2.1(a)
 Code
 Common Units
 Damages
 DFIGP
 DFI Indemnified Parties Section 5.2
 Encumbrances
 Enterprise GP
 Enterprise Material Adverse Effect
 Enterprise MLP
 Enterprise Partnership Group Entities
 Environmental Laws
 2




---



##### 



et seq et seq et seq et seq et
seq et seq et seq et seq et seq et seq
 EPCO
 EPE
 EPE Holdings
 EPE Indemnified Parties Section 5.1
 EPE Partnership Agreement
 ERISA
 Exchange Act
 Execution Date
 GAAP Section 1.2
 governing documents
 Governmental Entity
 Hazardous Substances
 3




---



##### 



holders
 Individual Threshold Section 5.1
 Investments Section 2.1(d)
 IRS
 knowledge, known
 Laws
 LP Units
 Materiality Requirement
 Membership Interest
 Notice Section 6.1
 NYSE
 Offered Units
 Open TEPPCO Position Section 3.3(w)
 Partially Owned Entity
 Permitted Encumbrances
 4




---



##### 



provided
 person
 Purchase Price Section 2.1(b)
 Release
 Representative
 SEC
 Securities Act
 Sellers
 subsidiary
 Tax Taxes
 5




---



##### 



Tax Return
 TEPPCO Disclosure Letter
 TEPPCO Easements Section 3.3(p)(iii)
 TEPPCO Environmental Permits Section 3.3(j)
 TEPPCO GP
 TEPPCO GP Financial Statements Section 3.3(g)(iv)
 TEPPCO GP Balance Sheet
 TEPPCO GP LLC Agreement
 TEPPCO Intellectual Property Rights Section 3.3(o)(i)
 TEPPCO Limited Partner Units
 TEPPCO Material Adverse Effect provided however
 6




---



##### 



TEPPCO MLP
 TEPPCO MLP Balance Sheet
 TEPPCO MLP Partially Owned Entities
 TEPPCO Operating Partnerships
 TEPPCO Parties
 TEPPCO Partnership Agreement
 TEPPCO Partnership Group Entities
 TEPPCO Permits Section 3.3(j)(ii)
 TEPPCO Pipeline Assets
 TEPPCO Plans
 TEPPCO SEC Reports
 Texas Courts
 Units
 Section 1.2 Rules of Construction
 7




---



##### 



GAAP
 ARTICLE II
 PURCHASE AND SALE
 Section 2.1 Closing
 Closing Date Closing Section 2.1 Closing Date
 Purchase of Membership Interest and Offered Units; Issuance of Class B and Class C
Units
    8




---



##### 



Purchase Price
   FIRPTA Certificate
 ARTICLE III
REPRESENTATIONS AND WARRANTIES
 Section 3.1 Representations and Warranties of the Sellers
 Formation and Standing
 Authority and No Conflicts
  9




---



##### 



No Consents
 Membership Interest and General Partner Interest; Offered Units
  10




---



##### 



General Partner Interest
 No Defaults
 Brokerage and Finders Fee
 Independent Investigation
 Investment Intent; Investment Experience; Restricted Securities
  11




---



##### 



Section 3.2 Representations and Warranties of EPE
 Organization and Standing
 Authority and No Conflicts
       12




---



##### 



No Consents
 No Defaults
 Brokerage and Finders Fee
 Independent Investigation
 Investment Intent; Investment Experience; Restricted Securities
  13




---



##### 



Amendment to EPE Partnership Agreement; Class B Units; Class C Units
    14




---



##### 



Section 3.3 Representations and Warranties Concerning TEPPCO GP and TEPPCO MLP
 Organization and Standing
 No Defaults
 No Conflicts
   15




---



##### 



Capitalization of TEPPCO MLP and Subsidiaries
 Subsidiaries
 16




---



##### 



Derivative Securities; Rights provided
 Reports; Financial Statements
 TEPPCO SEC Reports
 17




---



##### 



2006
10-K
  TEPPCO GP Financial Statements
 Controls
  18




---



##### 



Absence of Certain Changes or Events
   Compliance; Permits
  19




---



##### 



TEPPCO Permits
 Litigation
 Environmental Matters TEPPCO Environmental Permits 20
        Contracts
 Restrictions on Business Activities
 21




---



##### 



Intellectual Property
 TEPPCO Intellectual Property
Rights Section
3.3(o)
  22




---



##### 



Property
   TEPPCO Easements
 23




---



##### 



Intentionally Omitted
 Labor Matters; Employees
   Insurance
 Taxes
 Schedule 3.3(t)
 24




---



##### 



25




---



##### 



Regulatory Proceedings
 Regulation as an Investment Company
 Futures Trading and Fixed Price Exposure Open TEPPCO Position
 Customers and Suppliers
 Books and Records
   26




---



##### 



ARTICLE IV
COVENANTS AND AGREEMENTS
 Section 4.1 Commercially Reasonable Efforts; Further Assurances
 Section 4.2 No Public Announcement
 Section 4.3 Expenses
 Section 4.4 Tax Matters
 Section 4.5 Unitholder Approval of Amendment to EPE Partnership Agreement
 ARTICLE V
REMEDIES FOR DEFAULT
 Section 5.1 Indemnity Regarding Section 3.1 and Section 3.3 Representations and Covenants EPE Indemnified Parties Section 3.1 Section 3.3 provided
 27




---



##### 



Section 5.1(a) Section 5.1(a) Individual Threshold provided, however Section 5.1(a) Section 3.1 Section 5.1(a) Section 5.1 Section
3.1 Section 3.3 Section
5.1
 Section 5.2 Indemnity Regarding Section 3.2 Representations and Covenants DFI Indemnified Parties Section 3.2 provided that Section 5.2(a) Section 5.2(a)
 Section 5.3 Survival of Representations Section 3.1 Section 3.2 Section 3.3 provided however Section 3.1(d) Section 3.3(l) Section
3.3(q) Section 3.3(t) Section
5.1 Section 5.2
 28




---



##### 



Section 5.4 Calculation of Damages
   Section 5.5 Enforcement of this Agreement provided
 Section 5.6 Exclusive Remedy Section 5.5 Section 5.8
 Section 5.7 Limitation on Damages PROVIDED THAT
 Section 5.8 No Waiver Relating to Claims for Fraud/Willful Misconduct
 29




---



##### 



ARTICLE VI
MISCELLANEOUS
 Section 6.1 Notices Notice provided
  th
  th
  th
 30




---



##### 



Section 6.2 Governing Law; Jurisdiction; Waiver of Jury Trial Texas Courts
 Section 6.3 Entire Agreement; Amendments and Waivers
 Section 6.4 Binding Effect and Assignment
 31




---



##### 



Section 6.5 Severability
 Section 6.6 Execution
 Section 6.7 Disclosure Letters
 [ ]
 32




---



##### 



ENTERPRISE GP HOLDINGS L.P
  By:
    /s/ Michael A. CreelName:
    Michael A. CreelTitle:
    President and Chief Executive OfficerDUNCAN FAMILY INTERESTS, INC.By:
    /s/ Darryl E. SmithName:
    Darryl E. SmithTitle:
    Treasurer DFI GP HOLDINGS, L.P.
   By:
    /s/ Richard H. BachmannName:
    Richard H. BachmannTitle:
    Executive Vice President