Magellan Midstream Raises Quarterly Cash Distribution

TULSA, Okla. – The board of directors of Magellan Midstream Partners, L.P. (NYSE: MMP) has increased the partnership’s quarterly cash distribution to 73.25 cents per unit for the period Apr. 1 through June 30, 2010.

The second-quarter distribution is 2% higher than the first-quarter 2010 distribution of 72 cents per unit and 3% higher than the second-quarter 2009 distribution of 71 cents. The new distribution, which equates to $2.93 per unit on an annualized basis, will be paid Aug. 13 to unitholders of record at the close of business on Aug. 6.

The partnership plans to announce second-quarter earnings before the market opens on Tues., Aug. 3.  An analyst conference call is scheduled at 1:30 p.m. Eastern the same day, during which management plans to discuss second-quarter results and outlook for the remainder of 2010. To participate, dial (888) 206-4913 and provide code 2435185. 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.



Contact Information:

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