Release Details

STAMFORD, CT (August 14, 2001) -- Star Gas Partners, L.P. (the "Partnership") (NYSE: SGU, SGH), a diversified home energy distributor and services provider, specializing in heating oil, propane, electricity and natural gas, announced today that it has officially completed the purchase of Meenan Oil, Inc. of Syosset, NY, the third largest retail home heating oil company in the country.

Star Gas Chairman and Chief Executive Officer Irik Sevin, stated, "The Meenan acquisition is a virtually seamless fit for Star, providing us with 110,000 new retail heating oil customers in two new contiguous markets and six of our existing geographic operating areas. Meenan's impressive historical operating performance and long-term track record of success allows us to operate it as a separate business unit under the current management team. Approximately half of the purchase was financed with the net proceeds from our most recent equity offering, and the remainder with a private placement of institutional debt. The finalization of the Meenan acquisition maintains Star's position as the nation's pre-eminent retail heating oil consolidator and we will continue to evaluate additional heating oil as well as propane acquisitions that meet our disciplined requirements."

Star Gas Partners, L.P., is a leading distributor of home heating oil, propane and deregulated natural gas and electricity. Through its wholly owned Petro subsidiary, Star is the nation's largest retail distributor of home heating oil, serving approximately 385,000 customers in the Northeast and Mid-Atlantic. Star is the nation's eighth largest retail propane distributor, serving approximately 260,000 customers throughout the Midwest and Northeast. Star owns a controlling 72.7% interest in Total Gas and Electric, which sells natural gas and electricity in the Northeast and Mid Atlantic to 55,000 customers.

This news announcement contains certain forward-looking information that is subject to certain risks and uncertainties as indicated from time to time in the Partnership's 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission. Included risks and uncertainties are the effects of the weather on the Partnership's financial results, competitive and propane and heating oil pricing pressures and other factors impacting the propane, home heating oil, natural gas and electricity distribution industries.