Carl C. Icahn, the Chairman of Icahn Enterprises and the holder of approximately 93% of the outstanding depositary units, has indicated that it is his present intention to elect to receive the increase in the Company's cash distribution in additional depositary units for the foreseeable future.

Mr. Icahn stated: "I'm very proud of the performance of Icahn Enterprises. Since Icahn Enterprises adopted an activist philosophy, the trading price of Icahn Enterprises' depositary units has risen from $7.625 on December 31, 1999 to $59.95 on February 8, 2013, the last trading day before this announcement – an increase of approximately 817%, which translates to an annualized return of approximately 18% for those who owned the stock through that period (including reinvestment of distributions into additional depositary units and taking into account in-kind distributions of depositary units). Comparatively, the S&P 500, Dow Jones Industrial and Russell 2000 indices increased only approximately 32%, 66% and 116%, respectively, over the same period, which translates to an annualized return of only approximately 2%, 4% and 6%, respectively (including reinvestment of distributions into those indices). Over the last few years, we have had substantial earnings and cash flow. We believe that our strategy will continue to produce strong results in 2013 and into the future, and that belief is reflected in the Board's decision to increase our quarterly distribution. We believe that the strong cash flow and asset coverage from our operating subsidiaries will allow us to maintain a strong balance sheet and ample liquidity. We have provided unit holders with a choice between taking distributions in cash or in additional depositary units so that those who wish to increase their participation in the future of our business may do so."

Additional information regarding the distribution election will be mailed to depositary unit holders of record as soon as practicable after February 21, 2013. A properly completed distribution election form must be received by Icahn Enterprises' transfer agent prior to 5:00 PM EST on March 14, 2013. For shares held through a bank, broker or nominee, questions should be directed to such bank, broker or nominee. Registered depositary unit holders with questions regarding the dividend should contact Registrar and Transfer Company at (800) 368-5948 or info@rtco.com.

Icahn Enterprises L.P. (Nasdaq:IEP), a master limited partnership, is a diversified holding company engaged in nine primary business segments: Investment, Automotive, Energy, Railcar, Food Packaging, Metals, Real Estate, Gaming and Home Fashion. 

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