Constellation Energy Partners (CEP) Retains Financial Advisor to Review Strategic Alternatives

September 30, 2008 7:26 AM EDT

Constellation Energy Partners LLC (NYSE: CEP) has retained a financial advisor to assist in a review of the company's strategic alternatives to enhance unitholder value. Tudor, Pickering, Holt & Co. Securities, Inc. has been engaged to provide independent advice to the management team and the Board of Managers.

The company noted that, at this time, the Board of Managers has not determined to pursue any particular alternative and that it does not intend to disclose developments with respect to this review unless and until the Board of Managers has approved a course of action.

"Given the current market environment and the recent merger announcement by our sponsor, Constellation Energy Group, we believe the assistance of Tudor, Pickering, Holt & Co. Securities will be helpful in our efforts to conduct a comprehensive review of our strategic options," said Stephen R. Brunner, president and chief executive officer of Constellation Energy Partners. "We will continue to focus on the interests of our company and unitholders."

Constellation Energy Group Inc. is an energy company that conducts its business through various subsidiaries, including a merchant energy business and Baltimore Gas and Electric Company (BGE). [SM]

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