EXHIBIT 99.1

Crosstex Energy, L.P. Announces $75 Million Private Placement Offering
                            with Prudential

    DALLAS--(BUSINESS WIRE)--June 21, 2004--Crosstex Energy, L.P.
(NasdaqNM:XTEX) today announced that it has completed a private
placement offering of $75 million in senior secured notes with
Prudential Capital Group, an investment business of Prudential
Financial Inc. (NYSE:PRU). The notes mature in 10 years, with an
average life of eight years, have an annual coupon of 6.96 percent and
are callable after three years at 103.5 percent of par. The notes will
be used to repay borrowings under Crosstex's revolving credit
facility. The notes have not been registered under the Securities Act
of 1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements under the Securities Act of 1933.
    "Our strategy is to maintain a conservative capital structure.
Given the long-term nature of our assets, we will continue to use
long-term, fixed-rate debt for a majority of the debt portion of our
capital structure," stated Barry E. Davis, president and chief
executive officer. "Of course, we will also continue to maintain a
conservative debt to total capital ratio to finance our growth, as we
have done in the past."

    About Crosstex

    Crosstex Energy, L.P., a mid-stream natural gas company
headquartered in Dallas, operates over 4,500 miles of pipeline, five
processing plants, and over 50 natural gas amine treating plants.
Crosstex currently provides services for over 1.5 BCF/day of natural
gas.
    Crosstex Energy Inc. (NasdaqNM:XTXI) owns ten million limited
partner units in the Partnership, the two percent general partner
interest in the Partnership, and the Partnership's incentive
distribution rights. Additional information about Crosstex can be
found at www.crosstexenergy.com.
    This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements contained in this press release, other than statements
of historical facts, are "forward-looking statements" for purposes of
these provisions.

    CONTACT: Crosstex Energy, L.P., Dallas
             Barry E. Davis or William W. Davis, 214-953-9500