Magellan Midstream Partners Announces Record Quarterly, Annual Earnings

Magellan Midstream Partners, L.P. today reported record quarterly and annual results for operating profit, net income, net income per limited partner unit and distributable cash flow.

Fourth-quarter 2007 operating profit of $84.8 million represented a 20% increase compared to $70.4 million for fourth quarter 2006. For the year ended Dec. 31, 2007, operating profit grew 21% to $300.3 million from $249.1 million in the comparable 2006 period.

Net income grew to $72.2 million during fourth quarter 2007, which is a 28% increase over the $56.5 million reported for fourth quarter 2006. For the year ended Dec. 31, 2007, net income grew 26% to $242.8 million from $192.7 million in the corresponding 2006 timeframe.



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