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                                                                     Exhibit 99

Contact: Robert W. Krick
610-337-1000, Ext. 3141
For Immediate Release:
March 5, 2001

UGI AGREES TO ACQUIRE
20% STAKE IN ELF ANTARGAZ

VALLEY FORGE, PA, MARCH 5 -- UGI Corporation (NYSE:UGI) today announced it has
agreed to acquire a 20% interest in Elf Antargaz, the French propane
distribution business of Total Fina Elf, SA. As previously disclosed, UGI joins
a consortium consisting of Paribas Affaires Industrielles (PAI), a leading
Private Equity Fund Manager affiliated with BNP Paribas SA, which will own
approximately 70% of Antargaz and Medit Mediterranea GPL, a privately-held
company engaged in the propane business in Italy, which will own the remaining
10%. The consortium anticipates a closing in late March. UGI expects its
investment to be approximately $30 million.

Lon R. Greenberg, UGI chairman and chief executive officer, said, "We look
forward to closing this acquisition and working with our partners at PAI and
Medit to own one of the largest propane distributors in France. The combined
financial strength and business acumen of PAI and operational experience of UGI
and Medit will allow an independent Elf Antargaz to continue its admirable
record of financial success and marketing innovation." Greenberg noted that the
results of the investment would be accretive to earnings per share in the first
full year of ownership.

Total Fina Elf, one of the world's largest oil companies, is selling Elf
Antargaz in response to European regulatory concerns that arose over Total's
purchase of Elf Aquitaine. Antargaz markets approximately 400 million gallons of
propane and butane annually. UGI markets approximately 44 million gallons of
propane and butane in Europe, and UGI's AmeriGas Partners, L. P. (NYSE:APU)
unit, which is not a party to the proposal, markets approximately one billion
gallons annually in the U.S.

UGI's ongoing objective is to grow earnings six to ten percent per year,
increase the dividend three percent per year, grow its domestic propane and
utility operations and invest in related and complementary businesses. Since
July 1999, UGI has grown earnings significantly, raised the dividend twice, and
invested significantly in its core businesses. In addition, the company has
continued to invest in European propane distribution and in its regional gas
marketing and HVAC service businesses.

UGI is a holding company with propane marketing, utility and energy marketing
subsidiaries. Through subsidiaries, UGI owns 55 percent of AmeriGas Partners, L.
P. (NYSE:APU), one of the nation's largest retail propane marketers.

This press release contains certain forward-looking statements which management
believes to be reasonable as of today's date only. Actual results may differ
significantly because of risks and uncertainties which are difficult to predict
and many of which are beyond management's control. You should read UGI's Annual
Report for a list of factors that could affect results. Among them are adverse
weather conditions, price volatility and availability of all energy products,
including propane, natural gas, electricity and fuel oil. UGI undertakes no
obligation to release revisions to its forward-looking statements to reflect
events or circumstances occurring after today.

Comprehensive information about UGI Corporation is available on the Internet at
HTTP://WWW.UGICORP.COM.