Inergy, L.P. (NYSE:NRGY) announced today that its wholly-owned subsidiary, Inergy Propane, LLC (the ?Company?) has purchased all of the propane assets of Pennington Gas Service (?Pennington?), headquartered in Morenci, Michigan. Pennington delivers propane to nearly 15,000 customers from seven locations in Michigan and northwestern Ohio and would rank among the top 35 retail propane companies in the United States.

Also, in a separate transaction, the Company has acquired the propane assets of Schenck Gas Services, LLC (?Schenck?), based in East Hampton, New York. Schenck delivers propane to nearly 2,000 customers from Montauk to East Hampton Bays.

The acquisitions of Pennington and Schenck represent the Company's 88th and 89th acquisitions since its founding in 1996. Both transactions are expected to be immediately accretive to Inergy unitholders on a distributable cash flow per unit basis.

?We have much respect for the way Mark Pennington and his family have grown Pennington Gas Service over many years,? said John Sherman, President and CEO of Inergy. ?These transactions represent an attractive opportunity for Inergy to further strengthen its operations. We welcome the employees of both companies to the Inergy team.?

About Inergy, L.P.

Inergy, L.P., with headquarters in Kansas City, MO, is among the fastest growing master limited partnerships in the country. Inergy's operations include the retail marketing, sale, and distribution of propane to residential, commercial, industrial, and agricultural customers. Today, Inergy serves over 700,000 retail customers from over 300 customer service centers throughout the United States. Inergy also operates a natural gas storage business; a supply logistics, transportation, and wholesale marketing business that serves independent dealers and multi-state marketers in the United States and Canada; and a solution-mining and salt production company.

This news release contains forward-looking statements, which are statements that are not historical in nature such as the expectation that the acquisitions will be immediately accretive on a distributable cash flow per unit basis. Forward-looking statements are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or any underlying assumption proves incorrect, actual results may vary materially from those anticipated, estimated, or projected. Among the key factors that could cause actual results to differ materially from those referred to in the forward-looking statements are: weather conditions that vary significantly from historically normal conditions, the demand for high deliverability natural gas storage capacity in the Northeast, the general level of petroleum product demand and the availability of supplies, our ability to successfully implement our midstream business plan, whether necessary regulatory approvals will be obtained, our ability to generate available cash for distribution to unitholders, and the costs and effects of legal and administrative proceedings against us or which may be brought against us. These and other risks and assumptions are described in Inergy's annual report on Form 10-K and other reports that are available from the United States Securities and Exchange Commission.

Corporate news, unit prices, and additional information about Inergy, including reports from the United States Securities and Exchange Commission, are available on the Company's web site, www.InergyLP.com. For more information, contact Mike Campbell in Inergy's Investor Relations Department at 816-842-8181 or via e-mail at investorrelations@inergyservices.com.

Inergy
Mike Campbell, 816-842-8181
investorrelations@inergyservices.com