FOR IMMEDIATE RELEASE         Contact:  Genesis Energy, L.P.
                                        Ross A Benavides
                                        Chief Financial Officer
                                        (713) 860-2528

                                        GEL Acquisition Partnership, L.P.
                                        Dan Krausse
                                        President & Chief Executive Officer
                                        (214) 855-7813


    GEL ACQUISITION PARTNERSHIP, L.P. INTENDS TO REDUCE FUTURE DISTRIBUTIONS
      FOR GENESIS ENERGY, L.P. AFTER PLANNED ACQUISITION OF GENERAL PARTNER

     October 31, 2001 - GEL Acquisition Partnership, L.P. (GA Partnership) and
Genesis Energy, L.P. (AMEX:GEL) announced today that upon closing the
transaction to transfer ownership of Genesis Energy, L.L.C. (Genesis), the
general partner of Genesis Energy, L.P. (the Partnership), from Salomon Smith
Barney (Salomon) to GA Partnership, GA Partnership intends to reduce the
distribution from $0.20 to $0.10 effective with the fourth quarter distribution
to be made on February 14, 2002.

     On August 10, 2001, GA Partnership and Genesis previously announced that
Salomon and GA Partnership had executed a definitive agreement to transfer
ownership of Genesis to GA Partnership.  At that time, GA Partnership and
Genesis announced that the transaction was expected to close on or before
October 31, 2001.  At this time, the transaction is expected to close on or
before November 30, 2001.

     Mark Gorman, president and chief executive officer of Genesis, said,
"Salomon extended the expiration date of its $300 million credit support
obligation from March 31, 2001 to December 31, 2001 as part of the restructuring
approved by the Genesis unitholders in December 2000.  This extension eliminated
an estimated $2.5 million increase in trade credit costs for the last nine
months of 2001.

     "Based on the marketplace for credit facilities, the Partnership's
financial performance and the anticipated cost of replacing the Salomon credit
support obligation, we expect to replace the $300 million Master Credit Support
Agreement and our existing $25 million Credit Agreement with a third-party
facility in the amount of $100 million providing for letters of credit and
working capital borrowings.  As a result of the changes in the size and the cost
of the Partnership's credit facility, the level of bulk and exchange volumes in
the Partnership's gathering and marketing operations must be substantially
reduced.  We expect that these changes will result in decreased total gross
margins and less Available Cash for distribution to the Partnership's
unitholders."

     Dan Krausse, chairman and president of GA Partnership, said, "2002 will be
a transition year for the Partnership.  After closing the transaction with
Salomon, our strategy will be to grow the asset base quickly, but responsibly,
and to steadily increase cash flows and distributions.  We are confident that
our relationships with the energy industry and the capital markets will help to
facilitate growth opportunities for Genesis during the coming year.  However, we
believe that it is prudent to reduce the quarterly distribution until the
Partnership begins to benefit from the anticipated growth."

     Genesis Energy, L.P., operates crude oil common carrier pipelines and is an
independent gatherer and marketer of crude oil in North America, with operations
concentrated in Texas, Louisiana, Alabama, Florida, Mississippi, New Mexico,
Kansas and Oklahoma.

     This press release includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934.  Although Genesis believes that its expectations are based
upon reasonable assumptions, its goals may not be achieved.  Important factors
that could cause actual results to differ materially from those in the forward
looking statements herein include the timing and extent of changes in commodity
prices for oil, ability to obtain adequate credit facilities, ability to make
acquisitions, environmental risks, government regulation, the ability of the
Company to meet its stated business goals and other risks noted from time to
time in the Company's Securities and Exchange Commission filings.

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