Magellan Midstream Partners Increases Cash Distribution

Marks Seven Years of Consecutive Quarterly Distribution Growth 

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 67.25 cents per unit for the period Jan. 1 through March 31, 2008, representing its twenty-eighth consecutive quarterly distribution increase, or seven years of continuous quarterly growth.

The first-quarter distribution is 9% higher than the first-quarter 2007 distribution of 61.625 cents per unit and represents a 2% increase over the fourth-quarter 2007 distribution of 65.75 cents.

The new distribution, which equates to $2.69 per unit on an annualized basis, will be paid May 15, 2008 to unitholders of record at the close of business on May 6.

The partnership plans to announce first-quarter earnings before the market opens on Tues., May 6. 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 expectations for the remainder of 2008. To participate, dial (888) 596-2573 and provide code 4963639. Investors also may listen to the call via the partnership’s website at http://www.magellanlp.com/webcasts.aspx.


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.




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