Announces Twenty-third 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 60.25 cents per unit for the period Oct. 1 through Dec. 31, 2006, representing its twenty-third consecutive quarterly distribution increase.

The fourth-quarter distribution is 9.1% higher than the fourth-quarter 2005 distribution of 55.25 cents per unit and represents a 2.1% increase over the third-quarter 2006 distribution of 59 cents.

The new distribution, which equates to $2.41 per unit on an annualized basis, will be paid Feb. 14, 2007 to unitholders of record at the close of business on Feb. 5.

The partnership plans to announce fourth-quarter earnings before the market opens on Wed., Jan. 31. An analyst conference call is scheduled at 1:30 p.m. Eastern the same day, during which management plans to discuss 2006 results and provide 2007 guidance. To participate, dial (800) 500-0311 and provide code 6674832. 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 management 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.