Inergy, L.P. (NRGY)

[Pro-Life]

Inergy Acquires Pennington Gas Service
Expands Retail Propane Operations in Core Markets

http://investor.inergypropane.com/phoenix.zhtml?c=132026&p=irol-newsArticle&ID=1498823&highlight=

KANSAS CITY, Mo., Nov 19, 2010 (BUSINESS WIRE) --

Inergy, L.P. (NYSE:NRGY) announced today that its wholly-owned subsidiary, Inergy Propane, LLC (the "Company") has purchased all of the propane assets of Pennington Gas Service ("Pennington"), headquartered in Morenci, Michigan. Pennington delivers propane to nearly 15,000 customers from seven locations in Michigan and northwestern Ohio and would rank among the top 35 retail propane companies in the United States.


Also, in a separate transaction, the Company has acquired the propane assets of Schenck Gas Services, LLC ("Schenck"), based in East Hampton, New York. Schenck delivers propane to nearly 2,000 customers from Montauk to East Hampton Bays.

The acquisitions of Pennington and Schenck represent the Company's 88th and 89th acquisitions since its founding in 1996. Both transactions are expected to be immediately accretive to Inergy unitholders on a distributable cash flow per unit basis.

"We have much respect for the way Mark Pennington and his family have grown Pennington Gas Service over many years," said John Sherman, President and CEO of Inergy. "These transactions represent an attractive opportunity for Inergy to further strengthen its operations. We welcome the employees of both companies to the Inergy team."