Exhibit 99.1

FOR IMMEDIATE RELEASE
NOVEMBER 7, 2008

Investor Contact:		Crystal C. Bell, Investor Relations Specialist
		Phone: (214) 721-9407
Media Contact:		Jill McMillan, Manager of Public & Industry Affairs
		Phone: (214) 721-9271

CROSSTEX ENERGY REPORTS THIRD-QUARTER 2008 FINANCIAL RESULTS

DALLAS, November 7, 2008 — The Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) and Crosstex Energy, Inc. (NASDAQ: XTXI) (the Corporation) today reported earnings for the third quarter of 2008.

Third-Quarter 2008 — Crosstex Energy, L.P. Financial Results

The Partnership reported a net loss of $5.2 million in the third quarter of 2008, compared with net income of $2.1 million in the third quarter of 2007. The Partnership’s distributable cash flow in the third quarter of 2008 was $30.3 million, 1.02 times the amount required to cover its quarterly distribution of $0.50 per unit. Distributable cash flow in the third quarter of 2007 was $31.9 million. Distributable cash flow is a non-GAAP financial measure and is explained in greater detail under “Non-GAAP Financial Information” below. There is a reconciliation of this non-GAAP measure to net income in the tables at the end of this news release.

“Our third quarter results were negatively impacted by the effects of Hurricanes Gustav and Ike and continued volume delays in North Texas, our key growth area,” said Barry E. Davis, Crosstex Chairman, President and Chief Executive Officer. “However, we still have strong underlying long-term business fundamentals, great assets and excellent customer relationships across all our assets.”

Third-quarter 2008 gross margin was $110.2 million, compared to $97.2 million in the corresponding 2007 period, a 13 percent increase. Gross margin from the Midstream segment rose 14 percent to $97.3 million in the third quarter of 2008 versus gross margin of $85.7 million in the third quarter last year. The improvement is due to higher system throughput from continued expansion of gathering and transportation systems in the Barnett Shale in North Texas and system expansion projects on the Crosstex LIG system in Louisiana. The Midstream increase was offset by the negative impact of Hurricanes Gustav and Ike and decreases in the processing business due to a less favorable natural gas liquids market.

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Crosstex Reports Third-Quarter 2008 Financial Results
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Third-quarter 2008 gross margin from the Treating segment increased 12 percent to $12.9 million, compared with gross margin of $11.5 million in the third quarter of 2007. Although the Partnership had 195 treating and dew point control plants in service at the end of both quarters, Treating gross margin increased due to increased fees per plant due to larger plants in service and throughput on its volume-based plants for the quarter.

Operating expenses were $47.0 million in the third quarter of 2008, compared with $31.7 million in the third quarter of 2007. The increase was related to expansion of gathering assets primarily in North Texas, East Texas and Louisiana and maintenance and repairs associated with the recent hurricanes. In the third quarter of 2008, general and administrative expenses rose to $16.9 million from $16.1 million in the third quarter of 2007 primarily due to an increase in bad debt expense of $1.6 million associated with SemGroup, L.P., which was partially offset by a decrease in stock-based compensation. Interest expense was $17.1 million in the third quarter of 2008 versus $20.7 million in the third quarter of 2007 due to lower interest rates between the periods.

Income from discontinued operations was $1.3 million in the third quarter of 2008, compared with $1.6 million in the third quarter of 2007. As part of our strategy to increase liquidity, the Partnership began marketing a nonstrategic asset for sale in September 2008 and the income generated by this asset is reflected in income from discontinued operations.

The net loss per limited partner unit in the third quarter of 2008 was $0.25 per unit versus a net loss of $0.10 per unit in the corresponding quarter of 2007. The loss per limited partner unit was impacted by the $5.8 million preferential allocation of net income to the general partner in the third quarter of 2008, which represented the general partner’s incentive distribution rights less certain stock-based compensation costs. This allocation further increased the limited partners’ net loss to $11.1 million in the third quarter of 2008.

Third Quarter 2008 — Crosstex Energy, Inc. Financial Results

The Corporation reported net income of $0.5 million for the third quarter of 2008, compared with net income of $2.2 million in the comparable 2007 period. The Corporation’s net loss from continuing operations before income taxes, gain on issuance of units of the Partnership and interest of noncontrolling partners in the net income of the Partnership was $5.5 million in the third quarter of 2008, compared with net income of $0.2 million in the third quarter of 2007.

The Corporation’s share of Partnership distributions, including distributions on its approximately 16.4 million participating limited partner units, its two percent general partner interest and the incentive distribution rights, was $15.5 million in the third quarter of 2008. Its share of Partnership distributions in the third quarter of 2007 was $12.6 million.

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Crosstex to Hold Conference Call Today

The Partnership and the Corporation will hold their quarterly conference call to discuss third quarter 2008 financial results today, November 7, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). The dial-in number for the call is 1-888-713-4211, and the passcode is 82267047. Callers outside the United States should dial 1-617-213-4864, and the passcode is 82267047. Investors are advised to dial in to the call at least 10 minutes prior to the call time to register. Participants may preregister for the call at https://www.theconferencingservice.com/prereg/key.process?key=PTUAMRWFE. Preregistrants will be issued a pin number to use when dialing in to the live call, which will provide quick access to the conference by bypassing the operator upon connection. Interested parties also can access a live Web cast of the call on the Investors page of Crosstex’s Web site at www.crosstexenergy.com.

After the conference call, a replay can be accessed until December 7, 2008, by dialing 1-888-286-8010. International callers should dial 1-617-801-6888 for a replay. The passcode for all callers listening to the replay is 40501936. Interested parties also can visit the Investors page of Crosstex’s Web site to listen to a replay of the call.

About the Crosstex Energy Companies

Crosstex Energy, L.P., a midstream natural gas company headquartered in Dallas, operates approximately 5,700 miles of pipeline, 12 processing plants, four fractionators, and approximately 195 natural gas amine-treating plants and dew point control plants. The Partnership currently provides services for over 4.0 Bcf/day of natural gas, or approximately eight percent of marketed U.S. daily production.

Crosstex Energy, Inc. owns the two percent general partner interest, a 34 percent limited partner interest, and the incentive distribution rights of Crosstex Energy, L.P.

Additional information about the Partnership and the Corporation can be found at www.crosstexenergy.com.

Non-GAAP Financial Information

This press release contains a non-generally accepted accounting principle financial measure that we refer to as Distributable Cash Flow. Distributable cash flow includes earnings before noncash charges, less maintenance capital expenditures and amortization of costs of certain derivatives (puts). The amounts included in the calculation of these measures are computed in accordance with generally accepted accounting principles (GAAP), with the exception of maintenance capital expenditures and the amortization of put premiums. Maintenance capital expenditures are capital expenditures made to replace partially or fully depreciated assets in order to maintain the existing operating capacity of our assets and to extend their useful lives. The puts were acquired to hedge the future price of certain natural gas liquids. The net cost of the puts is being amortized against Distributable Cash Flow over their life.

We believe this measure is useful to investors because it may provide users of this financial information with meaningful comparisons between current results and prior reported results and a

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meaningful measure of the Partnership’s cash flow after it has satisfied the capital and related requirements of its operations. Distributable Cash Flow is not a measure of financial performance or liquidity under GAAP. It should not be considered in isolation or as an indicator of the Partnership’s performance. Furthermore, it should not be seen as a measure of liquidity or a substitute for metrics prepared in accordance with GAAP. Our reconciliation of this measure to net income is included among the following tables.

This press release contains forward-looking statements within the meaning of the federal securities laws. These statements are based on certain assumptions made by the Partnership and the Corporation based upon management’s experience and perception of historical trends, current conditions, expected future developments and other factors the Partnership and the Corporation believe are appropriate in the circumstances. These statements include, but are not limited to, statements with respect to the Partnership’s and the Corporation’s future financial condition, liquidity and results of operations. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Partnership and the Corporation, which may cause the Partnership’s and the Corporation’s actual results to differ materially from those implied or expressed by the forward-looking statements. These risks include the following: (1) the amount of natural gas transported in the Partnership’s gathering and transmission lines may decline as a result of competition for supplies, reserve declines and reduction in demand from key customers and markets; (2) the level of the Partnership’s processing and treating operations may decline for similar reasons; (3) fluctuations in natural gas and NGL prices may occur due to weather and other natural and economic forces; (4) there may be a failure to successfully integrate new acquisitions; (5) the Partnership’s credit risk management efforts may fail to adequately protect against customer nonpayment; (6) the Partnership may not adequately address construction and operating risks; and (7) other factors discussed in the Partnership’s and the Corporation’s Annual Reports on Form 10-K for the year ended December 31, 2007, and other filings with the Securities and Exchange Commission. The Partnership and the Corporation have no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

(Tables follow)

Crosstex Reports Third-Quarter 2008 Earnings
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CROSSTEX ENERGY, L.P.
Selected Financial & Operating Data
(All amounts in thousands except per unit numbers)

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2008				2007				2008				2007
		(Unaudited)								(Unaudited)
Revenues
Midstream		$	1,310,226			$	926,726			$	4,087,683			$	2,721,193
Treating			19,036				13,080				48,106				40,160
Profit from Energy Trading Activities			648				587				2,332				2,180
			1,329,910				940,393				4,138,121				2,763,533
Cost of Gas
Midstream			1,213,547				841,580				3,796,074				2,503,523
Treating			6,164				1,617				11,618				6,208
			1,219,711				843,197				3,807,692				2,509,731
Gross Margin			110,199				97,196				330,429				253,802
Operating Expenses			46,997				31,690				127,408				87,645
General and Administrative			16,897				16,127				49,695				43,010
(Gain) Loss on Sale of Property			68				2				(1,591	)			(1,819	)
(Gain) Loss on Derivatives			1,295				526				(7,193	)			(3,969	)
Depreciation and Amortization			32,828				27,465				96,927				76,845
Total			98,085				75,810				265,246				201,712
Operating Income			12,114				21,386				65,183				52,090
Interest Expense and Other			(16,964	)			(20,481	)			(46,703	)			(56,159	)
Income (Loss) from continuing operations before Minority Interest and Taxes			(4,850	)			905				18,480				(4,069	)
Minority Interest in Subsidiary			(44	)			(136	)			(238	)			(186	)
Income Tax Provision			(1,683	)			(236	)			(2,352	)			(655	)
Income (Loss) from Continuing Operations			(6,577	)			533				15,890				(4,910	)
Income from Discontinued Operations			1,334				1,597				4,320				4,652
Net Income (Loss)		$	(5,243	)		$	2,130			$	20,210			$	(258	)
General Partner Share of Net Income (Loss)		$	5,810			$	4,737			$	27,861			$	13,444
Limited Partners’ Share of Net Income (Loss)		$	(11,053	)		$	(2,607	)		$	(7,651	)		$	(13,702	)
Net Income (Loss) per Limited Partners’ Unit
Basic and diluted Common Unit		$	(0.25	)		$	(0.10	)		$	(3.11	)		$	(0.51	)
Basic and Diluted Sr. Sub Series C Unit		$	—			$	—			$	9.44			$	—
Weighted Average Limited Partners’
Units Outstanding:
Basic and diluted			44,869				26,718				41,466				26,682

Crosstex Reports Third-Quarter 2008 Financial Results
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CROSSTEX ENERGY, L.P.
Reconciliation of Net Income to Distributable Cash Flow
(All amounts in thousands except ratios and distributions per unit)

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2008				2007				2008				2007
		(Unaudited)								(Unaudited)
Net Income (Loss)		$	(5,243	)		$	2,130			$	20,210			$	(258	)
Depreciation and Amortization (1)			33,322				27,999				98,434				78,351
Stock-based Compensation			1,885				3,549				8,251				8,635
Financial Derivatives Mark-to-Market			5,134				2,460				(1,980	)			439
Other (2)			425				44				(654	)			133
Cash Flow			35,523				36,182				124,261				87,300
Amortization of Put Premiums			—				(2,708	)			—				(6,176	)
Maintenance Capital Expenditures			(5,249	)			(1,609	)			(12,816	)			(6,165	)
Distributable Cash Flow		$	30,274			$	31,865			$	111,444			$	74,959
Actual Distribution		$	29,708			$	22,796			$	111,389			$	65,318
Distribution Coverage			1.02				1.40				1.00				1.15
Distributions per Limited Partner Unit		$	0.50			$	0.59			$	1.75			$	1.72

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CROSSTEX ENERGY, L.P.
Operating Data

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2008				2007				2008				2007
Pipeline Throughput (MMBtu/d)
South Texas (1)			423,000				429,000				423,000				396,000
LIG Pipeline and Marketing (1)			895,000				1,023,000				973,000				921,000
North Texas — Gathering			762,000				393,000				653,000				312,000
North Texas — Transmission			342,000				296,000				337,000				225,000
Other Midstream			221,000				202,000				208,000				186,000
Total Gathering and Transmission Volume			2,643,000				2,343,000				2,594,000				2,040,000
Natural Gas Processed (MMBtu/d)
South Louisiana (1)			1,037,000				1,473,000				1,289,000				1,439,000
LIG System (1)			262,000				314,000				325,000				317,000
South Texas			184,000				219,000				200,000				221,000
North Texas			200,000				150,000				191,000				102,000
Total Gas Volumes Processed			1,683,000				2,156,000				2,005,000				2,079,000
Weighted Average Natural Gas Liquids Price ($/gallon)			1.36				1.18				1.43				1.07
Weighted Average Natural Gas Liquids to Gas Ratio			210	%			222	%			193	%			180	%
Commercial Services Volume (MMBtu/d)			74,000				92,000				81,000				95,000
North Texas Gathering (2)
Wells Connected			46				57				135				157
Treating Plants in Service and GPM
Treating and DPC plants in service (3)			195				195				195				195
Total GPM of treating plants in service (4)			10,718				9,863				10,718				9,863

Crosstex Reports Third-Quarter 2008 Financial Results
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CROSSTEX ENERGY, INC.
Selected Financial & Operating Data
(All amounts in thousands except per share numbers)

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2008				2007				2008				2007
		(Unaudited)								(Unaudited)
Revenues
Midstream		$	1,310,226			$	926,726			$	4,087,683			$	2,721,193
Treating			19,036				13,080				48,106				40,160
Profit from Energy Trading Activities			648				587				2,332				2,180
			1,329,910				940,393				4,138,121				2,763,533
Cost of Gas
Midstream			1,213,547				841,580				3,796,074				2,503,523
Treating			6,164				1,617				11,618				6,208
			1,219,711				843,197				3,807,692				2,509,731
Gross Margin			110,199				97,196				330,429				253,802
Operating Expenses			46,998				31,706				127,415				87,678
General and Administrative			17,613				16,886				51,767				45,074
(Gain) Loss on Derivatives			1,295				526				(7,193	)			(3,969	)
(Gain) Loss on Sale of Property			68				2				(1,591	)			(1,819	)
Depreciation and Amortization			32,848				27,477				97,039				76,880
Total			98,822				76,597				267,437				203,844
Operating Income			11,377				20,599				62,992				49,958
Interest Expense and Other			(16,903	)			(20,390	)			(46,542	)			(55,826	)
Income (Loss) from Continuing Operations before Income Taxes, Gain on Issuance of Units of the Partnership and Interest of Noncontrolling Partners in the Partnership’s Net Income (Loss)			(5,526	)			209				16,450				(5,868	)
Gain on Issuance of Units of the Partnership			—				—				14,748				—
Income Tax Provision			(2,061	)			(914	)			(10,731	)			(2,111	)
Interest of Noncontrolling Partners in the Partnership’s Net Income (Loss)			7,833				2,533				7,280				11,402
Income from Continuing Operations			246				1,828				27,747				3,423
Income from Discontinued Operations, net of Taxes and Minority Interest			294				352				951				1,024
Net Income		$	540			$	2,180			$	28,698			$	4,447
Net Income per Common Share
Basic Earnings per Common Share		$	0.01			$	0.05			$	0.62			$	0.10
Diluted Earnings per Common Share		$	0.01			$	0.05			$	0.62			$	0.10
Weighted Average Shares Outstanding:
Basic			46,299				45,996				46,285				45,978
Diluted			46,649				46,655				46,626				46,591
Dividends per Common Share		$	0.32			$	0.24			$	1.06			$	0.69