Plains All American Announcing Has Made Proposal to Buy Publicly-Held Units of PAA Natural Gas Storage, Offering 0.435 Units/PNG Unit

Plains All American Pipeline, L.P. (NYSE: PAA ) today announced that it has submitted a proposal to the independent directors of the board of directors of the general partner of PAA Natural Gas Storage, L.P. (NYSE: PNG ) to acquire all of PNG's outstanding publicly-held common units through a unit-for-unit exchange. PAA