EXHIBIT 99 Excerpt from Notes 1 and 8 to Fiscal Year 2008 Consolidated Financial Statements of
UGI Corporation and Subsidiaries
 Stock-Based Compensation.
  UGI Stock Option and Incentive Plans.
   1




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##### 



UGI Stock Option Awards
 WeightedWeighted
    
    
    Total
    
    
    AverageAverage
    
    
    Intrinsic
    
    
    Contract TermShares
    
    
    Option Price
    
    
    Value
    
    
    (Years)Shares under option  September 30, 2005
    
    
    4,953,018
    
    
    $
    15.95Granted
    
    
    1,159,100
    
    
    $
    20.67Exercised
    
    
    (232,766
    )
    
    $
    11.09
    
    
    $
    2.7Forfeited
    
    
    (35,500
    )
    
    $
    19.26Shares under option  September 30, 2006
    
    
    5,843,852
    
    
    $
    17.06Granted
    
    
    1,326,800
    
    
    $
    27.12Exercised
    
    
    (812,573
    )
    
    $
    13.20
    
    
    $
    11.8Shares under option  September 30, 2007
    
    
    6,358,079
    
    
    $
    19.65Granted
    
    
    1,423,800
    
    
    $
    27.25Cancelled
    
    
    (147,300
    )
    
    $
    27.03Exercised
    
    
    (982,334
    )
    
    $
    15.64
    
    
    $
    11.2Shares under option  September 30, 2008
    
    
    6,652,245
    
    
    $
    21.71
    
    
    $
    30.9
    
    
    
    6.6Options exercisable  September 30, 2006
    
    
    3,146,952
    
    
    $
    14.56Options exercisable  September 30, 2007
    
    
    3,568,746
    
    
    $
    16.75Options exercisable  September 30, 2008
    
    
    3,960,778
    
    
    $
    18.93
    
    
    $
    27.9
    
    
    
    5.6Non-vested options  September 30, 2008
    
    
    2,691,467
    
    
    $
    25.79
    
    
    $
    3.0
    
    
    
    8.2
   2




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##### 



Range of exercise prices$6.88 -
    
    
    $15.65 -
    
    
    $21.73 -$12.81
    
    
    $20.48
    
    
    $28.02Options outstanding at September 30, 2008:Number of options
    
    
    775,875
    
    
    
    2,821,670
    
    
    
    3,054,700Weighted average remaining contractual life (in years)
    
    
    3.6
    
    
    
    5.7
    
    
    
    8.2Weighted average exercise price
    
    $
    11.12
    
    
    $
    19.29
    
    
    $
    26.63Options exercisable at September 30, 2008Number of options
    
    
    775,875
    
    
    
    2,260,003
    
    
    
    924,900Weighted average exercise price
    
    $
    11.12
    
    
    $
    18.99
    
    
    $
    25.33
 UGI Stock Option Fair Value Information.
  2008
    
    
    2007
    
    
    2006Expected life of option
    
    
    5.75 - 6.75 years
    
    
    
    6 - 6.75 years
    
    
    
    6 yearsWeighted average volatility
    
    
    20.9%
    
    
    
    21.5%
    
    
    
    21.3%Weighted average dividend
yield
    
    
    2.8%
    
    
    
    2.9%
    
    
    
    3.4%Expected volatility
    
    
    20.3% - 20.9%
    
    
    
    20.8% - 21.5%
    
    
    
    21.2% - 22.6%Expected dividend yield
    
    
    2.8% - 2.9%
    
    
    
    2.8% - 2.9%
    
    
    
    2.8% - 3.4%Risk free rate
    
    
    3.4% - 3.6%
    
    
    
    4.3% - 4.7%
    
    
    
    4.3% - 4.9%
 UGI Unit Awards
  3




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##### 



Grants Awarded in Fiscal2008
    
    
    2007
    
    
    2006Risk-free rate
    
    
    2.7
    %
    
    
    4.7
    %
    
    
    5.2
    %Expected life
    
    3 years
    
    
    3 years
    
    
    3 yearsExpected volatility
    
    
    20.5
    %
    
    
    19.6
    %
    
    
    19.8
    %Dividend yield
    
    
    3.1
    %
    
    
    2.6
    %
    
    
    2.8
    %
   Total
    
    
    Vested
    
    
    Non-VestedWeighted
    
    
    
    
    
    
    Weighted
    
    
    
    
    
    
    WeightedAverage
    
    
    
    
    
    
    Average
    
    
    
    
    
    
    AverageNumber of
    
    
    Grant Date
    
    
    Number of
    
    
    Grant Date
    
    
    Number of
    
    
    Grant DateUGI
    
    
    Fair Value
    
    
    UGI
    
    
    Fair Value
    
    
    UGI
    
    
    Fair ValueUnits
    
    
    (per Unit)
    
    
    Units
    
    
    (per Unit)
    
    
    Units
    
    
    (per Unit)September 30, 2007
    
    
    879,000
    
    
    $
    19.31
    
    
    
    487,231
    
    
    $
    16.30
    
    
    
    391,769
    
    
    $
    23.04Granted
    
    
    253,325
    
    
    $
    29.34
    
    
    
    
    
    
    $
    
    
    
    
    253,325
    
    
    $
    29.34Cancelled
    
    
    (21,850
    )
    
    $
    27.52
    
    
    
    
    
    
    $
    
    
    
    
    (21,850
    )
    
    $
    27.52Forfeited
    
    
    (4,067
    )
    
    $
    29.43
    
    
    
    
    
    
    $
    
    
    
    
    (4,067
    )
    
    $
    29.43Vested
    
    
    
    
    
    $
    
    
    
    
    264,563
    
    
    $
    23.29
    
    
    
    (264,563
    )
    
    $
    23.29Performance
criteria not met
    
    
    (184,733
    )
    
    $
    20.47
    
    
    
    (184,733
    )
    
    $
    20.47
    
    
    
    
    
    
    $
    Shares paid
    
    
    (40,000
    )
    
    $
    16.63
    
    
    
    (40,000
    )
    
    $
    16.63
    
    
    
    
    
    
    $
    September 30, 2008
    
    
    881,675
    
    
    $
    21.82
    
    
    
    527,061
    
    
    $
    18.32
    
    
    
    354,614
    
    
    $
    27.01
    4




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##### 



AmeriGas Partners Equity-Based Compensation Plans and Awards.
   Grants Awarded in Fiscal2008
    
    
    2007
    
    
    2006Risk-free rate
    
    
    3.1
    %
    
    
    4.7
    %
    
    
    5.2
    %Expected life
    
    3 years
    
    
    3 years
    
    
    3 yearsExpected volatility
    
    
    17.7
    %
    
    
    17.6
    %
    
    
    18.1
    %Dividend yield
    
    
    6.8
    %
    
    
    7.1
    %
    
    
    7.7
    %
   5




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##### 



Total
    
    
    Vested
    
    
    Non-VestedNumber of
    
    
    Weighted
    
    
    Number of
    
    
    Weighted
    
    
    Number of
    
    
    WeightedAmeriGas
    
    
    Average
    
    
    AmeriGas
    
    
    Average
    
    
    AmeriGas
    
    
    AveragePartners
    
    
    Grant Date
    
    
    Partners
    
    
    Grant Date
    
    
    Partners
    
    
    Grant DateCommon
    
    
    Fair Value
    
    
    Common
    
    
    Fair Value
    
    
    Common
    
    
    Fair ValueUnits
    
    
    (per Unit)
    
    
    Units
    
    
    (per Unit)
    
    
    Units
    
    
    (per Unit)September 30, 2007
    
    
    119,317
    
    
    $
    30.63
    
    
    
    12,583
    
    
    $
    29.87
    
    
    
    106,734
    
    
    $
    30.72Granted
    
    
    40,050
    
    
    $
    37.91
    
    
    
    
    
    
    $
    
    
    
    
    40,050
    
    
    $
    37.91Forfeited
    
    
    (750
    )
    
    $
    32.54
    
    
    
    
    
    
    $
    
    
    
    
    (750
    )
    
    $
    32.54Vested
    
    
    
    
    
    $
    
    
    
    
    59,900
    
    
    $
    31.10
    
    
    
    (59,900
    )
    
    $
    31.10Units paid
    
    
    (32,517
    )
    
    $
    29.49
    
    
    
    (32,517
    )
    
    $
    29.49
    
    
    
    
    
    
    $
    September 30, 2008
    
    
    126,100
    
    
    $
    33.44
    
    
    
    39,966
    
    
    $
    32.03
    
    
    
    86,134
    
    
    $
    34.10
    6