Magellan Midstream Partners Increases Distribution for Twenty-Fourth Consecutive Quarter

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 61.625 cents per unit for the period Jan. 1 through March 31, 2007, representing its twenty-fourth consecutive quarterly distribution increase.

The first-quarter distribution is 9.1% higher than the first-quarter 2006 distribution of 56.5 cents per unit and represents a 2.3% increase over the fourth-quarter 2006 distribution of 60.25 cents.

The new distribution, which equates to $2.465 per unit on an annualized basis, will be paid May 15, 2007 to unitholders of record at the close of business on May 8.

The partnership plans to announce first-quarter earnings before the market opens on Mon., April 30. 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 2007 expectations. To participate, dial (800) 810-0924 and provide code 2501524. 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.




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.  

Contact Information:

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