IPAA Annual Meeting 2007 San Antonio, Texas

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

2. Crosstex Overview

3. 200 treating plants / 4 fractionators in operation 12 Processing Plants 5,000 miles of pipeline 3.5 Bcf/day throughput/approximately 7% of U.S. daily production 650 (+) employees Crosstex Overview

4. 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

5. Evolution of Midstream MLP’s

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

7. Headlines from the News - 2000 Content Slide • 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

8. Stagnant SupplyGrowing Demand

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

10. MLP’s Build Midstream Infrastructure

11. Before It Got Hot...

12. Barnett Shale Early Stages

13. Barnett Shale Adds Takeaway Capacity

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