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 53.125 cents per unit for the period July 1 through Sept. 30, 2005.

The third-quarter distribution represents a 19.4% increase over the third-quarter 2004 distribution of 44.5 cents per unit and a 6.8% increase over the second-quarter 2005 distribution of 49.75 cents.

The new distribution, which equates to $2.125 per unit on an annualized basis, will be paid Nov. 14, 2005 to unitholders of record at the close of business on Nov. 2, 2005.

"This eighteenth consecutive quarterly increase results in a distribution amount that is more than double the initial distribution established when our partnership went public in early 2001," said John Chandler, chief financial officer. "Our distributable cash flow growth in 2005 has been significantly better than we expected. As a result, we are raising our distribution more than required to meet our previously stated annual distribution growth target of 10%, passing along this better than anticipated performance to our unitholders."

The partnership plans to announce third-quarter earnings before the market opens on Thurs., Oct. 27. An analyst conference call is scheduled at 1:30 p.m. Eastern the same day. To participate, dial (800) 475-3716 and provide code 1736421. 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.