AmeriGas tenders for 8 7/8% notes

New York, April 4 - AmeriGas Partners, LP said it has begun a cash tender offer for its $388 million of 8 7/8% series B senior notes due 2011.

The Valley Forge, Pa., propane distributor is also seeking consents to amend the note indenture.

The offer is subject to conditions including the tender of a majority of the notes along with consents and the receipt of enough proceeds for a private placement of debt securities to fund the offer.

For each $1,000 principal amount of notes tendered with consents by the consent deadline of 5 p.m. ET on April 13, AmeriGas is offering the present value minus accrued interest of the $1,044.38 call price on the first call date of May 20, 2006 plus interest up to the first call date, discounted using the yield of the 4.625% U.S. Treasury note due May 15, 2006 plus 62.5 basis points.

Noteholders who tender after the consent deadline will not receive the consent payment of $30 per $1,000 included in the total price.

Tenders must be made with consents and vice versa.

Holders will also receive accrued interest up to but excluding the date of payment.

The consent solicitation is to eliminate substantially all of the restrictive covenants in the indenture governing the notes and certain other provisions.

The tender ends at 5 p.m. ET on May 2.

Credit Suisse First Boston LLC is the dealer manager and solicitation agent (800 820-1653 or 212 538-0652). D.F. King & Co., Inc. is the information agent (800 848-2998 or 212 269-5550).

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