<PAGE> 1
EXHIBIT 99.1 Presentation materials for use at meeting with analysts and
others on November 6, 2000
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<PAGE> 2
SLIDE: "KINDER MORGAN
OVERVIEW OF KMI & KMP
NOVEMBER 2000
Forward looking statements are not guarantees of performance. They
involve risks, uncertainties and assumptions. The future results and
securities values of Kinder Morgan Inc. and Kinder Morgan Energy
Partners, L.P. (collectively known as "Kinder Morgan") may differ
materially from those expressed in the forward-looking statements
contained throughout this presentation. Many of the factors that will
determine these results and values are beyond Kinder Morgan's ability
to control or predict. These statements are necessarily based upon
various assumptions involving judgments with respect to the future,
including, among others, the ability to achieve synergies and revenue
growth; national, international, regional and local economic,
competitive and regulatory conditions and developments; technological
developments; capital markets conditions; inflation rates; interest
rates; the political and economic stability of oil producing nations;
energy markets; weather conditions; business and regulatory or legal
decisions; the pace of deregulation of retail natural gas and
electricity and certain agricultural products; the timing and success
of business development efforts; and other uncertainties. You are
cautioned not to put undue reliance on any forward-looking statement."
SLIDE: [Kinder Morgan logo]
"TABLE OF CONTENTS
I. OVERVIEW
II. SYSTEM MAP
III. DISTRIBUTION MECHANISM
IV. KMP OVERVIEW & STRATEGY
- Segment Overview
- Internal Growth Strategy
- Acquisition Strategy
V. KMI OVERVIEW STRATEGY
- Segment Overview
- Internal Growth Strategy
- Acquisition Strategy"
SLIDE: "KINDER MORGAN
I. OVERVIEW"
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SLIDE: [Kinder Morgan logo]
"UNIQUE FINANCIAL STRUCTURE
o RICH KINDER AND BILL MORGAN HAVE LARGEST EQUITY STAKE
IN ENERGY INDUSTRY
- $1/yr in salary
- no bonus, no options
o KMI TARGETS 20-30% EPS GROWTH
- half internal growth
- half from acquisitions at KMP
o KMP GENERATES GROWTH AND INCOME
- approximately 7% tax deferred yield
- increased per unit distributions at over 30% CAGR (c)
[Chart depicting:
-ownership of KMI (corporation) as Management - 25%, Public
Shareholders, 75%
-KMI (a)
-Market Equity $4.6bn
-Debt 3.6
----
-Enterprise Value $8.2bn
-KMI as 100% owner of General Partner of KMP (partnership)
-General Partner of KMP as having a 2% GP Interest,
GP Incentive Distributions, and 17% LP Units
-81% Public LP Unitholders of KMP
-KMP (b)
-Market Equity $3.1bn
-Debt 1.3
----
-Enterprise Value $4.4bn]
(a) Market equity and enterprise values assume 116M shares o/s
and a price of $40. The debt balance is as of 6/30 per
form 10Q
(b) Market equity and enterprise values assume 64.2M shares
o/s and a unit price of $48.75. The debt balance is as of
6/30 per form 10Q
(c) Calculated since 2/97 when current management assumed
control"
SLIDE: "KINDER MORGAN
II. SYSTEM MAP"
SLIDE: [Kinder Morgan logo]
"KINDER MORGAN
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<PAGE> 4
SYSTEM MAP"
[Chart: U.S. Map charting Natural Gas Operations (pipelines, storage
and processing plants) and Products Operations (pipelines, bulk
terminals and transmix facilities) with legend]
SLIDE: "KINDER MORGAN
III. HOW KMP'S GROWTH AFFECTS KMI"
SLIDE: [Kinder Morgan logo]
"GP INCENTIVE DISTRIBUTION CALCULATION
Under KMP's unique structure, as unitholder distributions are
increased, the General Partner gets an increasingly larger share of the
upside (a)
[Chart:]
<TABLE>
<CAPTION>
LP Distribution/Unit LP% GP% LP Share GPShare
-------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Tier 1 $0.00 to $1.21 98% 2% $81.7 $1.7
Tier 2 1.21 to 1.43 85 15 14.9 2.6
Tier 3 1.43 to 1.87 75 25 29.7 9.9
Tier 4 > 1.87 50 50 103.3 103.3
----- -----
Total Distribution to Partners @ $3.40/Unit $229.6 $117.5
Percent of Total 66% 34%
</TABLE>
A $0.10 INCREASE IN KMP'S DISTRIBUTION PER UNIT PRODUCES $8.2MM OF PRE
TAX CASH FLOW FOR KMI (a)
(a) Based on $3.40 annual LP distribution per unit. Assumes completion
of the previously announced transfer of approximately $300M of assets
from KMI to KMP in 4Q 2000, after which KMI will own 14M units of a
total of 67.5M - transfer expected to take place in 4Q 2000"
SLIDE: [Kinder Morgan logo]
"HOW KMP IMPACTS KMI
As the per-unit KMP distributions have increased, the GP's
percentage of total cash flow has grown dramatically
[Chart:]
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<PAGE> 5
<TABLE>
<CAPTION>
KMP DISTRIBUTION/UNIT KMI% OF KMP CASH FLOW (a)
--------------------- -------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$1.26 $1.88 $2.47 $2.85 $3.40 2% 15% 25% 29% 34%
----- ----- ----- ----- ----- -- --- --- --- ---
1996 1997 1998 1999 2000(e) 1996 1997 1998 1999 2000(e)
</TABLE>
(a) Includes only the 2% GP Interest - does not include L.P. units
owned by the GP/KMI"
SLIDE: [Kinder Morgan logo]
"HOW KMP IMPACTS KMI
The combination of growth in both KMP's total cash flow and
KMI's share of that total has produced dramatic cash flow
growth for KMI's GP interest
[Chart:]
<TABLE>
<CAPTION>
KMP TOTAL CASH FLOW KMI'S 2% OF G.P. INTEREST (a)
------------------- -----------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$16.8M $30.1M $152.9M $198.3M $330.0M $0.4M $4.5M $38.0M $58.4M $111.7M
------ ------ ------- ------- ------- ----- ----- ------ ------ -------
2% 15% 25% 29% 34%
1996 1997 1998 1999 2000(e) 1996 1997 1998 1999 2000(e)
</TABLE>
(a) Includes only the 2% GP Interest - does not include L.P.
units owned by the G.P. (KMI)"
SLIDE: "KINDER MORGAN
IV. KMP - OVERVIEW & STRATEGY"
SLIDE: [Kinder Morgan logo]
"KINDER MORGAN ENERGY PARTNERS
SEGMENT OVERVIEW
[Chart:]
MARKET POSITION (a)
o Largest pipeline MLP
o Largest independent refined products pipeline system
[Chart:]
FINANCIAL PROFILE (b)
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<PAGE> 6
o Market Cap: $3.1bn
o Enterprise Value: $4.4bn
o Cash Distribution: $3.40
o Distribution Yield: 7.0%
[Chart:]
SEGMENT EARNINGS FOR THE FIRST 9 MONTHS OF 2000
Bulk Terminals 9%
CO2 Pipelines 14%
Natural Gas Pipelines 27%
Product Pipelines 50%
(a) Based on an enterprise value of approximately $4.4 billion
(b) Based on $48.75 unit price and 64.2M units o/s"
SLIDE: [Kinder Morgan logo]
"PRODUCT PIPELINES
KMP SEGMENT PROFILE
o 8,100 MILE MULTIPLE PRODUCT AND JV PIPELINE SYSTEMS
o PREDOMINANT MARKET SHARE IN WEST, TRANSPORTING BULK
OF REFINED PRODUCTS USED IN CA, AZ AND NV
o RAPID POPULATION GROWTH DRIVING CONSUMPTION OF
REFINED PETROLEUM PRODUCTS IN WESTERN AND SOUTHEAST
REGION OF U.S.
- 9 mos YTD - Pacific over 4% volume growth
- 9 mos YTD - Plantation over 2% volume growth
o REFINERY HUB TO POPULATION CENTER STRATEGY
o FAVORABLE REGULATORY ENVIRONMENT"
[Map of West U.S. showing route of pipeline systems]
[Map of Western and Southeast region of U.S. showing route of
pipeline systems]
SLIDE: [Kinder Morgan logo]
"NATURAL GAS PIPELINES
KMP SEGMENT PROFILE
o KMIGT (FORMERLY KN INTERSTATE)
- Transports gas from Rockies and mid-continent to
end users
- Pony Express connects to Kansas City and pipes
moving east
o RED CEDAR
- 650 mmcf/day gathering in North San Juan basin
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<PAGE> 7
- 49% partner with Southern Utes
o TRAILBLAZER
- KMP owns 67%; Enron owns 33%
- Moves Rockies gas east
- Completed open season for approx. 300mmcf/day
expansion"
[Map of central U.S. showing pipeline routes]
SLIDE: [Kinder Morgan logo]
"CO2 PIPELINES
KMP SEGMENT PROFILE
o PREMIER INTEGRATED CO2 TRANSPORTER AND MARKETER IN
NORTH AMERICA
o MOST REVENUES FROM LONG-TERM CONTRACTS WITH MINIMUM
DELIVERY GUARANTEES
o NEW ACQUISITIONS AT UNDER 5X CASH FLOW
- Approx. $200M for remaining 80% of Shell CO2
- Approx. $55mm for CRC pipeline/SACROC unit
o FUTURE GROWTH DRIVEN BY MATURATION OF DOMESTIC OIL
BASINS"
[Map of south central U.S. showing pipelines]
SLIDE: [Kinder Morgan logo]
"BULK TERMINALS
KMP SEGMENT PROFILE
o 25 OWNED OR OPERATED BULK TERMINALS
- Coal
- Petroleum Coke
- Cement and other
o LONG-TERM CONTRACTS AND GEOGRAPHIC DIVERSITY LEAD TO
STABLE CASH FLOWS
o GROWTH FROM:
- Low sulfur western coal
- Increased coking of heavy crude
- Inadequate domestic cement capacity"
[Photo of bulk terminal]
SLIDE: [Kinder Morgan logo]
"KMP INTERNAL GROWTH STRATEGY
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<PAGE> 8
o ENHANCE UTILIZATION OF EXISTING ASSETS TO CAPTURE
UPSIDE OF FIXED COST ECONOMICS
- Southern California expansions
- Plantation mainline expansion
o CONTINUE TO REDUCE COSTS
- Plantation operations
- Enhanced productivity in field operations
o STAY FOCUSED ON MIDSTREAM ASSET OPERATION TO REDUCE
RISK
- Pipelines and terminals
- Fee-based
- Limit exposure to commodity price risk"
SLIDE: [Kinder Morgan logo]
"KMP - HISTORICAL GROWTH
KMP EXISTING OPERATIONS SHOULD PROVIDE A PLATFORM FOR GROWTH*
[Chart:]
<TABLE>
<CAPTION>
EARNINGS BEFORE DD&A
BUSINESS LAST 12 MONTHS GROWTH OUTLOOK
-------- -------------- --------------
<S> <C> <C>
Products Pipelines $255M(a) 7% growth for 9 months ended
9/30/00 - expect growth to
continue at or above that
level - fueled by population
growth in the west
Natural Gas Pipelines 117M(b) Segment composed of assets
acquired 12/31/99 - growth
expected to be 1-3% annually
CO2 Pipelines 95M(c) Growth of 3-5% expected as
additional CO2 projects are
developed
Bulk Terminals 46M(a) 9% growth for 9 months ended
9/30/00 - expect greater
growth in 2001
</TABLE>
TARGET $27-36M OF ANNUAL INTERNAL GROWTH
a) Amount refers to segment earnings before DD&A for the 9
months ended 9/30/00 + 3 months ended 12/31/99
b) Amount refers to annualized segment earnings before DD&A
based on the 9 months ended 9/30/00 (segment earnings before
DD&A multiplied by 1.33)
c) Amount refers to annualized segment earnings before DD&A
based on the 6 months ended 9/30/00 (segment earnings before
DD&A multiplied by 2)
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<PAGE> 9
* The above figures regarding growth potential are based on
various forward-looking assumptions made by the management of
Kinder Morgan. While Kinder Morgan believes that these
assumptions are reasonable, it can give no assurance that such
results will materialize."
SLIDE: [Kinder Morgan logo]
"KMP ANNUAL INTERNAL GROWTH POTENTIAL
[Chart:]
<TABLE>
<CAPTION>
BUSINESS SEGMENT (GROWTH DRIVER) GROWTH POTENTIAL ($MM)
-------------------------------- ----------------------
<S> <C>
Total Internal Cash Flow Growth Potential $27-36
KMP/DISTRIBUTION PER UNIT (a) $0.20-$0.27
KMI/AFTER TAX EARNINGS PER SHARE (b) $0.08-$0.11
</TABLE>
* The above figures regarding growth potential are based on
various forward-looking assumptions made by the management of
Kinder Morgan. While Kinder Morgan believes that these
assumptions are reasonable, it can give no assurance that such
results will materialize.
(a) Based on 67.5M units outstanding
(b) Assumes 14M units owned by the GP, 40% tax rate, and 116M
shares outstanding"
SLIDE: [Kinder Morgan logo]
"KMP ACQUISITION STRATEGY
o RATIONALIZATION BY MAJOR OIL COMPANIES - FTC
requirements - Internal restructuring - Other oil
companies following suit
o LIQUIDS PIPELINES AND TERMINALS CONSOLIDATION OPPORTUNITIES
o BULK TERMINALS ACQUISITION OPPORTUNITIES
o CONTINUED RESTRUCTURING IN THE NATURAL GAS INDUSTRY
KMP: 16 TRANSACTIONS FOR APPROXIMATELY $3.4 BN IN LAST 3.5
YEARS"
SLIDE: [Kinder Morgan logo]
"ACQUISITIONS PROVIDE CASH ACCRETION
CASH ACCRETION TO KMP UNITHOLDERS OR ACQUISITIONS BASED ON
VARIOUS MULTIPLES OF DISTRIBUTABLE CASH FLOW (a)
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<PAGE> 10
[Chart:]
<TABLE>
<CAPTION>
5.0X 6.5X 8.0X 9.5X
---- ---- ---- ----
<S> <C> <C> <C> <C>
Purchase Price $1,000.0M $1,000.0M $1,000.0M $1,000.0M
Debt Issued @ 7.4% $400.0M $400.0M $400.0M 400.0M
Units Issues @ $48.75 12.3M 12.3M 12.3M 12.3M
PRETAX CASH FLOW $200.0M $153.8M $125.0M $105.3M
Less:
Interest ($29.6)M ($29.6)M ($29.6)M ($29.6)M
$3.40 Dist on New Units ($41.8)M ($41.8)M ($41.8)M ($41.8)M
GP Dist on New Units ($21.4)M ($21.4)M ($21.4)M ($21.4)M
-------------------- -------- -------- -------- --------
Excess Cash Flow $107.2M $61.0M $32.2M $12.5M
Less:
GP Share of Excess ($53.6)M ($30.5)M ($16.1)M ($6.3)M
------------------ -------- -------- -------- -------
Cash Accretion $53.6M $30.5M $16.1M $6.3M
CASH ACCRETION/UNIT $0.67 $0.38 $0.20 $0.08
</TABLE>
(a) Assumes acquisition financed 60% equity / 40% debt,
pre-tax debt cost of 7.4%, a $3.40 annual distribution, a unit
price of $48.75, and outstanding units of 79,812,000
(67,512,000 + 12,300,000 for the acquisitions)"
SLIDE: [Kinder Morgan logo]
"ACQUISITION MATRIX
For a given dollar amount of acquisitions, KMP unitholders
realize a significant amount of cash accretion per unit (a)*
[Chart:]
<TABLE>
<CAPTION>
VALUE OF
ACQUISITIONS 5.0X 6.5X 8.0X 9.5X
------------ ---- ---- ---- ----
<S> <C> <C> <C> <C>
$1000M $0.67 $0.38 $0.20 $0.08
$750M $0.52 $0.30 $0.16 $0.06
$500M $0.36 $0.21 $0.11 $0.04
</TABLE>
TARGET $0.20 - 0.30
(a) Assumes acquisition financed 60% equity / 40% debt,
pre-tax debt cost of 7.4%, a $3.40 annual distribution, a unit
price of $48.75, and outstanding units of 79,812,000
(67,512,000 + 12,300,000 for the acquisitions)"
*The above figures regarding growth potential are based on
various forward-looking assumptions made by the management of
Kinder Morgan. While Kinder Morgan
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<PAGE> 11
believes that these assumptions are reasonable, it can give no
assurance that such results will materialize."
SLIDE: "KINDER MORGAN
V. KMI - OVERVIEW & STRATEGY"
SLIDE: [Kinder Morgan logo]
"KINDER MORGAN, INC.
SEGMENT OVERVIEW
[Chart:]
MARKET POSITION
o One of the largest midstream energy companies in U.S.
o 30,000 miles of natural gas and products pipelines
[Chart:]
FINANCIAL PROFILE (a)
---------------------
o Market Cap: $4.6bn
o Enterprise Value: $8.2bn
[Chart:]
SEGMENT EARNINGS FOR THE FIRST 9 MONTHS OF 2000(b)
Power 5%
KMTP 4%
Retail 7%
KMP 24%
NGPL 60%
(a) Based on $40.00 price per share and $3.6Bn debt
outstanding
(b) Excludes amortization of excess investment for KMP"
SLIDE: [Kinder Morgan logo]
"NATURAL GAS PIPELINE OF AMERICA
KMI SEGMENT PROFILE
o TRANSPORT NATURAL GAS TO CHICAGO AND OTHER MIDWEST
MARKETS
o OVER 10,000 MILES OF PIPE AND 200 BCF OF STORAGE WITH
PEAK DELIVERABILITY OF 5.7 BCF/DAY
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<PAGE> 12
o RECENT 3-5 YEAR CONTRACT EXTENSIONS WITH LARGEST LDC
CUSTOMERS
o 3RD PARTY CONSTRUCTION OF GAS-FIRED POWER PLANTS IS
EXPECTED TO DRIVE LONG-TERM GROWTH
- Over 3,000 MW attached in 2000
- Expect 3,000-4,000 MW annually for '01-'03
o HUB AMERICA - DISTRIBUTE CANADIAN GAS THROUGHOUT U.S.
VIA BACKHAUL
o HORIZON PIPELINE - JV WITH NICOR-EXTENSION TO
N. ILLINOIS
o ADDITIONAL MARKET AREA EXTENSIONS EXPECTED"
[Map of central U.S. showing midwest markets]
SLIDE: [Kinder Morgan logo]
"POWER
SEGMENT PROFILE
o PLAN TO DEVELOP POWER GENERATING PLANTS ALONG GAS
PIPELINES
o ORION CONFIGURATION - INNOVATIVE PLANT DESIGN THAT
CAN BE RAMPED UP OR DOWN QUICKLY
- Little Rock, AK project with Southern Company
(under construction)
- Jackson, MI project to serve Detroit (under
construction)
- Additional sites in TX, CO, IL
o BENEFICIAL GE CONTRACT AND IMPACT OF DEVELOPMENT FEES
o INTERESTS IN FOUR EXISTING PLANTS IN COLORADO"
[Map of central U.S. with Colorado, Nebraska and Wyoming
shaded]
SLIDE: [Kinder Morgan logo]
"RETAIL
KMI SEGMENT PROFILE
o PROVIDES NATURAL GAS TO APPROXIMATELY 225,000
RESIDENTIAL, COMMERCIAL, INDUSTRIAL AND AGRICULTURAL
CUSTOMERS IN NEBRASKA, COLORADO AND WYOMING
o PROMOTE CHOICE GAS, WHICH UN-BUNDLES SUPPLIER OF GAS
FROM TRANSPORTER
o 6-8% LOAD GROWTH ON WESTERN SLOPE OF COLORADO
MITIGATED BY SLOWER GROWTH IN WY AND NE"
[Map of mid U.S. showing Retail]
SLIDE: [Kinder Morgan logo]
"KINDER MORGAN TEXAS PIPELINE
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<PAGE> 13
KMI SEGMENT PROFILE
EXPECTED TO BE CONTRIBUTED TO KMP IN 4Q 2000
o PROCESSES, TRANSPORTS AND SELLS NATURAL GAS WITHIN
THE TEXAS MARKET
o MORE THAN 2,600 MILES OF PIPE
o PRIMARILY SERVES UTILITIES AND INDUSTRIAL CUSTOMERS
IN THE HOUSTON AND SOUTHEAST TEXAS AREA
o PROVIDES 35% OF ALL DELIVERIES INTO HOUSTON
METROPOLITAN AREA
o POSITIONED TO BENEFIT FROM TREMENDOUS GROWTH IN
GAS-FIRED GENERATION; RECENTLY AGREED TO PROVIDE
CALPINE 375,000 MMBTU/DAY FOR 10 YEARS"
[Map of Texas showing expected pipeline]
SLIDE: [Kinder Morgan logo]
"KMI GROWTH OVERVIEW
o GENERAL PARTNER INCENTIVE STRUCTURE WILL DRIVE
EARNINGS GROWTH IN FUTURE - Internal growth on KMP's
pipes and terminals - Acquisition opportunities
o GROWTH IN GAS-FIRED POWER GENERATION - Near-term
opportunities for KMI Power earnings growth -
Longer-term growth for NGPL"
SLIDE: [Kinder Morgan logo]
"KMI INTERNAL GROWTH
KMI BUSINESS SEGMENTS PROVIDE GROWTH GOING FORWARD*
[Chart:]
<TABLE>
<CAPTION>
BUSINESS SEGMENT COMMENTS
---------------- --------
<S> <C>
KMP Internal KMI is expected to realize
approximately 60% of KMP's
internal growth ($27-$36M per Page
17)
Power & Other 9 Months YTD growth of 25% (vs.
99YTD) - future growth will meet
or exceed if 2 Orion plants are
built per year
NGPL Expect modest near-term growth as
Alliance Pipeline
</TABLE>
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<PAGE> 14
<TABLE>
<S> <C>
comes online -
long-term growth driven by new
power generation
Retail Long-term growth of 2-3%, expect
better growth in '01 reflecting
new weather hedges
</TABLE>
*The above figures regarding growth potential are based on
various forward-looking assumptions made by the management of
Kinder Morgan. While Kinder Morgan believes that these
assumptions are reasonable, it can give no assurance that such
results will materialize."
SLIDE: [Kinder Morgan logo]
"KMI BENEFITS FROM KMP ACQUISITIONS
[Chart:]
KMP ACQUISITION ECONOMICS*
<TABLE>
<CAPTION>
8.0X
----
<S> <C>
Purchase Price $1,000.0M
Debt Issued @ 7.4% $400.0M
Units Issued @ $48.75 12.3M
PRETAX CASH FLOW $125.0M
Less:
Interest ($29.6)M
$3.40 Dist. on New Units ($41.8)M
GP Dist. on New Units ($21.4)M
--------------------- --------
Excess Cash Flow $32.2M
Less:
GP Share of Excess ($16.1)M
------------------ --------
Cash Accretion $16.1M
CASH ACCRETION/UNIT $0.20
[Chart:]
KMI IMPACT*
GP Dist. on New Units $21.4M
GP Share of Excess $16.1M
</TABLE>
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<PAGE> 15
GP Accretion on Units Owned (a) $2.8M
Less:
Cost of Capital on 2% Contribution ($1.0M)
---------------------------------- ------
Pre Tax Earnings Benefit $39.3M
Tax @ 40% ($15.7M)
--------- ------
After tax earnings benefit $23.6M
-------------------------- ------
Avg Shares Outstanding - Q3 116M
--------------------------- ------
NET EPS EFFECT/SHARE $0.20
(a) Includes cash accretion on 14M L.P. units owned by KMI;
assumes earnings accretion on L.P. units equals cash accretion
*The above figures regarding growth potential are based on
various forward-looking assumptions made by the management of
Kinder Morgan. While Kinder Morgan believes that these
assumptions are reasonable, it can give no assurance that such
results will materialize."
SLIDE: [Kinder Morgan logo]
"KMI - ACQUISITION MATRIX
For acquisitions completed at KMP, KMI stockholders receive a
significant EPS contribution (a)*
[Chart:]
<TABLE>
<CAPTION>
VALUE OF
ACQUISITIONS 5.0X 6.5X 8.0X 9.5X
------------ ---- ---- ---- ----
<S> <C> <C> <C> <C>
$1000M $0.43 $0.29 $0.20 $0.14
$750M $0.33 $0.22 $0.15 $0.11
$500M $0.22 $0.15 $0.10 $0.07
</TABLE>
TARGET $0.20 - 0.30
(a) Assumes acquisition financed 60% equity / 40% debt,
pre-tax debt cost of 7.4%, a $3.40 annual distribution, a unit
price of $48.75, and outstanding units of 79,812,000
(67,512,000 + 12,300,000 for the acquisitions)
*The above figures regarding growth potential are based on
various forward-looking assumptions made by the management of
Kinder Morgan. While Kinder Morgan believes that these
assumptions are reasonable, it can give no assurance that such
results will materialize."
SLIDE: [Kinder Morgan logo]
"KMI GOING FORWARD
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<PAGE> 16
o COMFORTABLE WITH ANALYST CONSENSUS OF APPROXIMATELY $1.25
EPS FOR 2000
o NOW TARGETING HIGHER END OF PREVIOUSLY ANNOUNCED 20 - 30%
EPS GROWTH FOR 2001
* The above figures regarding growth potential are based on
various forward-looking assumptions made by the management of
Kinder Morgan. While Kinder Morgan believes that these
assumptions are reasonable, it can give no assurance that such
results will materialize."
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