2008-07-24 14:19:04 -

www.inergypropane.com - Inergy, L.P. Mike Campbell, 816-842-8181 investorrelations@inergyservices.com The Board of Directors of Inergy GP, LLC, managing general partner of Inergy, L.P. (Nasdaq:NRGY), today announced an increase in the company's quarterly cash distribution to $0.625 per limited partner unit ($2.50 annually) for the quarter ended June 30, 2008. This represents the 27th consecutive quarterly increase

and an approximate 6.8% increase over the distribution for the same quarter of the prior year. The distribution will be paid on August 14, 2008, to unitholders of record as of August 7, 2008.

Inergy plans to release its 2008 fiscal third quarter earnings on August 11, 2008. Inergy will host a live conference call and internet webcast on August 11, 2008, at 10:00 a.m. Central Time to discuss the results of operations for the quarter ended June 30, 2008, and its business outlook. The call-in number for the earnings call is 1-877-405-3427, and the conference name is Inergy. The live internet webcast and the replay can be accessed on Inergy's website, www.inergypropane.com. A digital recording of the call will be available for one week following the call by dialing 1-800-642-1687 and entering the pass code 57501722.

Inergy, L.P., with headquarters in Kansas City, Mo., is among the fastest growing master limited partnerships in the country. The company's operations include the retail marketing, sale, and distribution of propane to residential, commercial, industrial, and agricultural customers. Today, Inergy serves approximately 700,000 retail customers from over 300 customer service centers throughout the eastern half of the United States. The company also operates a natural gas storage business and a supply logistics, transportation, and wholesale marketing business that serves independent dealers and multi-state marketers in the United States and Canada.

Inergy Holdings, L.P.'s (Nasdaq:NRGP) assets consist of its ownership interests in Inergy, L.P., including limited partnership interests, ownership of the general partners, and the incentive distribution rights.

Corporate news, unit prices, and additional information about Inergy, including reports from the United States Securities and Exchange Commission, are available on the company's website, www.inergypropane.com. For more information, contact Mike Campbell in Inergy's Investor Relations Department at 816-842-8181 or via e-mail at investorrelations@inergyservices.com.

Fiscal Third Quarter Earnings to be Released August 11, 2008