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| Williams Energy Partners L.P. |
| 141 Elm Street, Westfield, MA 01085 * (413) 568-1911 |
| Business Description | The company was recently formed to own, operate and acquire a diversified portfolio of complementary energy assets of The Williams Companies. The company is principally engaged in the storage, transportation and distribution of refined petroleum products and ammonia. |
| Offering Information Company has | |||
| Trading As | WEG (NYSE) | Industry | Transportation (SIC 4610) |
| Type of Stock Offered | Common Units | Filing Date | 10/30/2000 |
| Domestic Shares Offered | 3,600,000 | Offer Date | 2/5/2001 |
| Foreign Shares Offered | 0 | Filing Range | $20.00 - $22.00 |
| Company Shares | 3,600,000 | Offer Price | $21.50 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.400 |
| Gross Proceeds | $77,400,000 | Selling | $0.800 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 11,359,388 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| A.G. Edwards & Sons, Inc. | Co-manager | (314) 955-3039 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| UBS Warburg LLC | Co-manager |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1997 | 12/31/1998 | 12/31/1999 | 9/30/1999 | 9/30/2000 | ||
| Revenues | - | - | 19.526 | 20.846 | 44.388 | 27.217 | 53.608 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | 4.917 | 5.843 | 6.766 | 6.856 | 3.424 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 6.76 | 112.933 | 96.97 | ||
| Net Income Growth (%) | - | - | 18.83 | 15.80 | -50.06 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | 25.18 | 28.03 | 15.24 | 6.39 | 25.19 |
| Cash Flow - Oper. | 5.66 | 9.58 | 1.51 | ||||
| Cash Flow - Inv. | -237.73 | -234.33 | -36.44 | ||||
| Cash Flow - Fin. | 232.07 | 224.75 | 34.93 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/2000 | Financial Ratios | ||||
| Total Assets | 315.63 | Current Assets | - | Current Ratio | - |
| Total Liab. | 97.79 | Current Liab. | - | Debt Ratio | 30.98% |
| Total Equity | 217.84 | Working Cap. | - | Debt to Equity Ratio | 0.45 |
| Cash | - | Return on Assets | 1.08% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Vinson & Elkins |
| Bank's Law Firm | Andrews & Kurth |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Williams Energy Services, LLC | 23.90 | |
| Williams Natural Gas Liquids, Inc. | 5.70 | |
| Note: represents ownership of 5% or more prior to the offering. | ||