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A.

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EPL said that it expects the expanded budget will be funded
entirely from internally generated cash flow. S.

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Sullivan served as President.----Energy Partners ,
Ltd. The Company
said that the increase in the budget will fund additional exploratory
activity as well as the development of early 2005 exploratory
successes. Production Co. Bachmann, EPL's Chairman and CEO, commented, "We are
delighted to have both Norman and Bob join our Board, their experience
and advice will be an asset to the Company as we continue to grow.

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We are deeply indebted to him for his loyal and dedicated service. Francis and Mr.

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William R.
The Company's operations are focused along the U.

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Business Editors/Energy Editors

NEW ORLEANS, La.S.

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Also, earlier in the day at the Company's annual shareholder
meeting, Dr. "Bob" Herrin.

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from
July 1992 until his retirement in 1998. Gulf Coast, both
onshore in south Louisiana and offshore in the shallow to moderate
depth waters of the Gulf of Mexico Shelf.

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Gobe as
President.
Richard A. S.

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In
March of 1989 Mr. The company is headquartered in Kansas City.
Participating in the Board of Directors meeting today were the two
newly elected members of the Board, Dr."

Founded in 1998, EPL is an independent oil and natural gas
exploration and production company based in New Orleans, Louisiana . Actual results may
differ materially from those projected.

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anant ritchie

("EPL") (NYSE: EPL) announced that at its meeting of the Board of
Directors today, the Board voted to authorize an increase in the
capital budget for 2005 to $265 million and appointed Phillip A.

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He was
appointed Chairman of the Board in 1991 and served in that capacity until
September 2003. Francis has served as the President of
Xavier University of Louisiana since 1968.

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About the Company
Interstate Bakeries Corporation is one of the nation's largest wholesale
bakers and distributors of fresh-baked bread and sweet goods, under various
national brand names, including Wonder(R), Baker's Inn(R), Merita (R),
Hostess(R) and Drake's(R). Francis and Mr. The increased budget is largely a reflection
of our exploration successes to date. Forward-looking statements are not
guarantees of future performance or an assurance that the Company's
current assumptions and projections are valid.

rickman alonzo

Charles Sullivan to Retire From IBC's Board of Directors

The new 2005 capital budget of $265 million represents a 10%
increase over the previous 2005 capital budget of $240 million and a
39% increase over the 2004 capital budget of $190 million.

Any statements made in this news release, other than those of
historical fact, about an action, event or development, which the
Company hopes , believes or anticipates may or will occur in the
future, are "forward-looking statements" under U.

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Such statements are subject to various assumptions, risks and
uncertainties, which are specifically described in our Annual Report
on Form 10-K for fiscal year ended December 31, 2004 filed with the
Securities and Exchange Commission.

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William R. Gobe will be responsible for all aspects of EPL's operations
as well as other corporate and strategic matters. Phillip has played and will continue
to play a critical role in leading EPL's operations and assuring that
our budget is well spent .

charles r

, Interstate Bakeries
Corporation (OTC: IBCIQ) today announced that Board of Directors member
Charles A.
Mr.

EPL Raises Capital Budget Names Phillip Gobe President and Elects Two New Directors

Norman C.

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Sullivan said, "It has always been my intention to retire as a
Director after my 70th birthday . Gobe joined EPL in December of 2004 and has served as
Executive Vice President and Chief Operating Officer. Norman C. Even with the increased budget,
we still expect to have free cash flow available for other uses over
the course of the year.

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He is the Chairman of the
Board for the Southern Education Foundation and for Liberty Bank and
Trust, a member of the board of directors of the American Council on
Education and a Fellow of The American Academy of Arts and Sciences. securities laws.

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Now that the Company's restructuring is well
under way, I feel confident in the ability of our management team and Board to
provide the leadership necessary for the future of the Company. Sullivan was appointed CEO of Interstate Bakeries
Corporation, a position in which he served until October 2002. Dr.

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Sullivan joined Interstate Bakeries in 1988 following IBC's
acquisition of American Bakeries, where Mr.
Also at the meeting, the Board appointed Phillip A.

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Herrin were elected
to the Company's Board of Directors . As President and
COO, Mr.
Mr. Herrin served in a number of capacities for Chevron
Corporation , most recently as Vice President and General Manager, Gulf
of Mexico Production Business Unit, Chevron U.

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KANSAS CITY, Mo. Sullivan has retired from the Board, effective immediately."
Leo Benatar , Chairman of the Board, commented, "Chuck Sullivan's
leadership has played a valuable role in IBC 's history for more than 17 years."
Mr. Gobe
as President in addition to his current role as Chief Operating
Officer. Mr. In
their first Board meeting today, they have already shared in two
important steps for EPL, raising the capital budget for 2005 and
appointing Phillip as President .

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