TULSA, Okla. – Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it plans to issue $250 million of 12-year senior unsecured notes in a registered offering. Management intends to use the net proceeds from this offering primarily to refinance the short-term debt used to fund the partnership's recent acquisition of more than 2,000 miles of petroleum products pipeline systems.

Lehman Brothers Inc. will act as book-running manager of the senior notes offering. In addition, Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities Inc., SunTrust Capital Markets, Inc. and UBS Securities LLC have been named as co-managing underwriters.

A copy of the prospectus supplement and related base prospectus associated with the senior notes offering may be obtained from Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, Phone: 631-254-7106, Fax: 631-254-7268, e-mail: niokioh_wright@adp.com, or from any of the other underwriters.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement.

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.