TULSA, Okla. – The board of directors of Magellan Midstream Partners, L.P. (NYSE: MMP) has increased the partnership’s quarterly cash distribution to 72 cents per unit for the period Jan. 1 through March 31, 2010, representing its thirty-second quarterly distribution increase since its initial public offering in 2001.

The first-quarter distribution is 1% higher than the fourth-quarter 2009 distribution of 71 cents per unit.  The new distribution, which equates to $2.88 per unit on an annualized basis, will be paid May 14 to unitholders of record at the close of business on May 7.

The partnership plans to announce first-quarter earnings before the market opens on Tues., May 4.  An analyst conference call is scheduled at 1:30 p.m. Eastern the same day, during which management plans to discuss first-quarter results and outlook for the remainder of 2010. To participate, dial (888) 239-5343 and provide code 2374270. Investors also may listen to the call via the partnership’s website at http://www.magellanlp.com/webcasts.asp.

This announcement is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b), with 100% of the partnership’s distributions to foreign investors attributable to income that is effectively connected with a United States trade or business. Accordingly, the partnership’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.

About Magellan Midstream Partners, L.P.

Magellan Midstream Partners, L.P. (NYSE: MMP) 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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