Ferrellgas Partners, L.P. Announces Completion of Its Previously Announced Tender Offer for the 8.75% Senior Notes Due 2012

OVERLAND PARK, Kan., April 27 /PRNewswire-FirstCall/ -- Ferrellgas Partners, L.P. (NYSE: FGP) (the "Company") announced today the completion of the previously announced tender offer for the 8.75% Senior Notes due 2012 issued by the Company and Ferrellgas Partners Finance Corp. (the "Notes") (CUSIP No. 31529MAA6).

On April 13, 2010, the Company accepted for purchase and payment $233,764,000 of the Notes that were validly tendered and not withdrawn at or prior to the early tender date of 5:00 p.m., New York City time, on April 12, 2010.  The Company announced today that $133,000 of additional Notes were validly tendered and not validly withdrawn after the early tender date but prior to the expiration date of 11:59 p.m., New York City time, on April 26, 2010.  On April 27, 2010, the Company accepted for purchase and payment the $133,000 of additional Notes tendered after the early tender date but prior to the expiration date.  Payment for the additional Notes tendered was made today.  In total, the Company repurchased $233,897,000 of Notes in the tender offer, representing 87% of the outstanding Notes prior to the launch of the tender offer.

Wells Fargo Securities and J.P. Morgan served as joint dealer managers for the tender offer, and D.F. King & Co. served as the depositary and information agent for the tender offer.

This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other securities and is neither an offer to sell nor a solicitation of an offer to purchase the Company's proposed senior notes due 2020.  The tender offer is made only by and pursuant to the terms of the Offer to Purchase and the related Letter of Transmittal.  None of the Company, the dealer managers, the depositary or the information agent makes any recommendations as to whether holders should tender their Notes pursuant to the tender offer.  Holders must make their own decisions as to whether to tender Notes, and, if so, the principal amount of Notes to tender.

Statements in this release concerning expectations for the future are forward-looking statements. A variety of known and unknown risks, uncertainties and other factors could cause results, performance and expectations to differ materially from anticipated results, performance and expectations. These risks, uncertainties and other factors are discussed in the Form 10-K of Ferrellgas Partners, L.P., Ferrellgas Partners Finance Corp., Ferrellgas, L.P., and Ferrellgas Finance Corp. for the fiscal year ended July 31, 2009, and other documents filed from time to time by these entities with the Securities and Exchange Commission.

SOURCE Ferrellgas Partners, L.P.