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Aug 11, 2011
Plains All American Pipeline, L.P. Announces Pricing of Secondary Public Offering of Common Units By Vulcan Energy Corporation

Plains All American Pipeline, L.P. (NYSE:PAA) announced today that Vulcan Energy Corporation has priced a secondary public offering of 7,500,000 common units representing limited partner interests in PAA at $61.10 per common unit. The offering is expected to close on August 17, 2011, subject to customary closing conditions. Vulcan Energy Corporation also granted the underwriters a 30-day option to purchase up to 1,125,000 additional common units to cover over-allotments, if any. The Partnership will not receive any of the proceeds from the offering and the number of PAA common units outstanding will remain unchanged.

Citigroup, Barclays Capital, BofA Merrill Lynch, J.P. Morgan, and UBS Investment Bank are joint book-running managers of the offering.

When available, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the underwriters as follows:

Citigroup Global Markets Inc. Barclays Capital Inc.
Brooklyn Army Terminal c/o Broadridge Financial Solutions
Attention: Prospectus Delivery Dept. 1155 Long Island Avenue
140 58(th) Street, Brooklyn, NY 11220 Edgewood, New York 11717
Telephone: (800) 831-9146 Telephone: (888) 603-5847

batprospectusdept@citi.com

BofA Merrill Lynch J.P. Morgan Securities LLC
4 World Financial Center via Broadridge Financial Solutions
New York, New York 10080 1155 Long Island Avenue
Attn: Prospectus Department Edgewood, New York 11717

dg.prospectus_requests@baml.com

Telephone: (866) 803-9204
UBS Securities LLC
Attention: Prospectus Dept.
299 Park Avenue
New York, NY 10171
Telephone: (888) 827-7275

The common units were offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement.

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties. These risks and uncertainties include, among other things, the stability of the capital markets and other factors and uncertainties inherent in the marketing, transportation, terminalling, gathering and storage of crude oil and other petroleum-related products discussed in the Partnership's filings with the Securities and Exchange Commission.

Plains All American Pipeline, L.P. is a publicly-traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas related petroleum products. Through its general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE:PNG), PAA is also engaged in the development and operation of natural gas storage facilities. PAA is headquartered in Houston, Texas.

Plains All American Pipeline, L.P.
Roy I. Lamoreaux, 713-646-4222 800-564-3036
Director, Investor Relations
or
Al Swanson, 713-646-4455 800-564-3036
Executive Vice President & CFO


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