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Icahn Enterprises Announces Cash Tender Offers For Its Existing 7.750% Senior Notes Due 2016 And 8.000% Senior Notes Due 2018

NEW YORK, Jan. 6, 2014 (GLOBE NEWSWIRE) -- Icahn Enterprises L.P. (NYSE:IEP) ("Icahn Enterprises") announced today that it, together with Icahn Enterprises Finance Corp., commenced cash tender offers (the "Tender Offers") to purchase any and all of the $1.05 billion outstanding aggregate principal amount of their 7.750% Senior Notes due 2016 (CUSIP Nos. 451102AC1, U44927AA6 and 451102AD9) (the "2016 Notes") and the $2.450 billion outstanding aggregate principal amount of their 8.000% Senior Notes due 2018 (CUSIP Nos. 451102AH0 and 451102AM9) (the "2018 Notes" and together with the 2016 Notes, the "Notes") The Tender Offers are being made pursuant to separate Offers to Purchase for each of the 2016 Notes and the 2018 Notes, dated January 6, 2014, and related Letters of Transmittal, which more fully set forth the terms and conditions of the Tender Offers.

As described in the Offers to Purchase, holders of Notes who validly tender (and do not validly withdraw) their Notes on or prior to January 17, 2014 (the "Early Tender Deadline") will be eligible to receive the Total Consideration, which includes an early tender premium of $30.00 per $1,000 principal amount of Notes tendered (the "Early Tender Premium").  Holders who validly tender their Notes after January 17, 2014 but at or prior to February 3, 2014, will be entitled to receive only the Base Consideration. We will also pay any and all accrued and unpaid interest on the Notes accepted for purchase, from and including the last date upon which interest was paid up to, but not including, the applicable day of payment.

 
Securities CUSIP Numbers Principal Amount Outstanding Base Consideration (1) Early Tender Premium (1) Total Consideration (1)(2)
7.750% Senior Notes due 2016 451102AC1 U44927AA6 451102AD9 $1,050,000,000 $991.78 $30.00 $1,021.78
8.000% Senior Notes due 2018 451102AH0 451102AM9 $2,450,000,000 $1,012.50 $30.00 $1,042.50
(1) Per $1,000.00 principal amount of Notes validly tendered and accepted for purchase.
(2) Inclusive of the Early Tender Premium.

The Tender Offers will expire at 11:59 p.m., New York City time, on February 3, 2014, unless terminated or extended (the "Expiration Time").  Any such extension will be followed by a public announcement no later than 9:00 a.m., New York City time, on the first business day after the previously scheduled Expiration Time.  Holders of Notes may withdraw their Notes on or prior to the Early Tender Deadline, but not thereafter.  Each Tender Offer is subject to certain customary conditions, including the Financing Condition, as described in the related Offers to Purchase. If any of the conditions are not satisfied or waived, we are not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered Notes and may terminate one or more Tender Offers.

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