IPAA Annual Meeting 2007 San Antonio, Texas Barry E. Davis President & Chief Executive Officer

Crosstex Overview

5,000 miles of pipeline 12 Processing Plants 3.5 Bcf/day throughput/approximately 7% of U.S. daily production 650 (+) employees 200 treating plants / 4 fractionators in operation

Strategically Located Assets Strategically focused in prolific production areas with access to high-volume markets – South Texas, North Texas, Louisiana, and Mississippi Largest intrastate transmission lines in both Louisiana and Mississippi

Evolution of Midstream MLP’s

Content Slide Growth of Midstream MLP’s $12.5B $44B $25B $14B $20B $32B $55B

Content Slide Headlines from the News Billions spent on the Y2K catastrophe that wasn’t SOX were just something we wore Dot.com....Dot.bust Hanging Chad’s Hang-up Gore Mad cow panic spreads

Stagnant Supply Growing Demand

New Natural Gas Sources in the United States RM 9.0/11.0/13.0 BS 0.3/2.0/3.0 GOM 13.0/9.0/9.0 LNG 0.6/2.0/15.0+

MLP’s Build Midstream Infrastructure

Before It Got Hot...

Barnett Shale Early Stages

Barnett Shale Adds Takeaway Capacity

Quote “It’s about imagination: If you’re constrained by what was, you can miss what can be.”