Williams Energy Partners L.P. Increases Cash Distribution: Marks Fourth Straight Quarter of Distribution Growth

TULSA, Okla. -- The board of directors for the general partner of Williams Energy Partners L.P. (NYSE:WEG) has declared a quarterly cash distribution of 61.25 cents per common and subordinated unit for the period Jan. 1 through Mar. 31, 2002, resulting in a 3.8 percent increase over the fourth-quarter 2001 distribution of 59 cents per unit.

The first-quarter distribution, which equates to $2.45 per unit on an annualized basis, will be paid May 15, 2002, to unitholders of record at the close of business on May 2, 2002.

"This is the fourth consecutive increase in cash distributions, which have now grown by nearly 17 percent since our initial public offering in February 2001," said Don Wellendorf, chief financial officer. "This track record continues to emphasize management's focus on providing superior growth for Williams Energy Partners' unitholders."

The first-quarter increase relates to the partnership's operations prior to ownership of Williams Pipe Line, purchased April 11. Williams Pipe Line is expected to be more than 50 cents accretive to cash flow per unit on an annualized basis.

The partnership plans to announce first-quarter earnings before the market opens on Thursday, April 25. An investor conference call is scheduled at 2 p.m. Eastern the same day.

To participate in the conference call, dial (800) 289-0572 and provide code 751826. International callers should dial (913) 981-5543 and provide the same code. A webcast will also be available at http://www.williams.com/newsroom/.

About Williams Energy Partners L.P. 

Williams Energy Partners L.P. was formed to own, operate and acquire a diversified portfolio of energy assets. The partnership is engaged principally in the transportation, storage and distribution of refined petroleum products and ammonia. The general partner is a unit of Williams (NYSE:WMB), which specializes in a broad array of energy-related services, including energy marketing and trading and natural gas pipeline transportation.

Portions of this document may constitute "forward-looking statements" as defined by federal law. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Examples of such uncertainties and risk factors include, but are not limited to, changes in the price for crude oil, changes in demand for refined petroleum products, adverse developments affecting our ammonia pipeline customers, changes in federal government policies affecting farm subsidies, changes to cost estimates relating to specific acquisitions, changes in economic and industry conditions and changes in regulatory requirements (including changes in environmental requirements). These and other factors are set forth in the Partnership's Form 10-K for the year 2001 filed with the Securities and Exchange Commission. 


Contact Information:

Kelly Swan Williams Media Relations (918) 573-6932

Paula Farrell Williams Investor Relations (918) 573-9233


Contact Information:

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