Inergy, L.P. Declares Increase in Quarterly Cash Distribution

The Board of Directors of Inergy GP, LLC, managing general partner of Inergy, L.P. (Nasdaq:NRGY), today announced an increase in the Company’s quarterly cash distribution to $0.685 per limited partner unit ($2.74 annually) for the quarter ended December 31, 2009. This represents the 33rd consecutive quarterly increase and an approximate 6.2% increase over the distribution for the same quarter of the prior year. The distribution will be paid on February 12, 2010, to unitholders of record as of February 5, 2010.

Inergy plans to release its 2010 fiscal first quarter earnings on February 2, 2010. Inergy will host a live conference call and internet webcast on February 2, 2010, at 10:00 a.m. Central Time to discuss the results of operations for the quarter ended December 31, 2009, and its business outlook. The call-in number for the earnings call is 1-877-405-3427, and the conference name is Inergy. The live internet webcast and the replay can be accessed on Inergy’s website, www.inergylp.com. A digital recording of the call will be available for one week following the call by dialing 1-800-642-1687 and entering the pass code 52323599.

Inergy, L.P., with headquarters in Kansas City, Mo., is among the fastest growing master limited partnerships in the country. The Company’s operations include the retail marketing, sale, and distribution of propane to residential, commercial, industrial, and agricultural customers. Today, Inergy serves nearly 800,000 retail customers from over 300 customer service centers throughout the United States. The Company also operates a natural gas storage business and a supply logistics, transportation, and wholesale marketing business that serves independent dealers and multi-state marketers in the United States and Canada.

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 website, 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.

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent of Inergy’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Inergy’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Inergy Holdings, L.P. (MM) (NASDAQ:NRGP)
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