www.magellanlp.com

07/21/2005


Magellan Midstream Partners Continues Distribution Growth Trend

Announces Seventeenth Consecutive Quarterly Distribution Increase 

TULSA, Okla. – The board of directors for the general partner of Magellan Midstream Partners, L.P. (NYSE: MMP) has increased the partnership's quarterly cash distribution to 49.75 cents per unit for the period April 1 through June 30, 2005.

The second-quarter distribution represents a 14% increase over the second-quarter 2004 distribution of 43.5 cents per unit and a 90% increase since the partnership's initial public offering during early 2001.

The new distribution, which equates to $1.99 per unit on an annualized basis, will be paid Aug. 12, 2005 to unitholders of record at the close of business on Aug. 3, 2005.

“We are pleased to declare our seventeenth consecutive quarterly distribution increase for our unitholders,” said John Chandler, chief financial officer. “While our stated goal has been to increase distributions by a minimum of 10% on an annual basis, our assets continue to produce significant cash flows, allowing us to increase distributions over the last two quarters at a higher pace.”

The partnership plans to announce second-quarter earnings before the market opens on Wed., July 27. An analyst conference call is scheduled at 1:30 p.m. Eastern the same day. To participate, dial (800) 289-0496 and provide code 7826471. Investors also may listen to the call via the partnership's web site at http://www.magellanlp.com/webcasts.aspx.


About Magellan Midstream Partners, L.P. 

Magellan Midstream Partners, L.P. is a publicly traded partnership formed to own, operate and acquire a diversified portfolio of energy assets. The partnership primarily transports, stores and distributes refined petroleum products. More information is available at http://www.magellanlp.com.

 

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Portions of this document may constitute forward-looking statements as defined by federal law. Although the partnership believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Additional information about issues that could lead to material changes in performance is contained in the partnership's filings with the Securities and Exchange Commission.  


Contact Information:

Paula Farrell Investor Relations 918-574-7650 paula.farrell@magellanlp.com