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DCP Midstream Partners Declares Increase in Quarterly Distribution; Invites Investors to Second Quarter 2007 Earnings Call

DENVER, July 25 /PRNewswire-FirstCall/ -- DCP Midstream Partners, LP (NYSE: DPM) today announced that the board of directors of its general partner declared a quarterly cash distribution of $0.53 per unit for the quarter ended June 30, 2007. This represents an increase of 14.0 percent over the last quarterly distribution of $0.465 per unit paid on May 15, 2007, and a 39.5 percent increase over the quarterly distribution paid for the second quarter of 2006 of $0.38 per unit. The quarterly cash distribution will be paid on Aug. 14, 2007, to unitholders of record at the close of business on Aug. 7, 2007. This quarterly distribution equates to $2.12 per unit on an annual basis.

DCP Midstream Partners will announce its earnings for the quarter ended June 30, 2007, after the New York Stock Exchange closes for trading on Wednesday, Aug. 8, 2007. An earnings conference call for investors and analysts is scheduled for 11 a.m. ET on Thursday, Aug. 9, 2007. The conference call can be accessed via Webcast through the Investor section of DCP Midstream Partners' Web site at or by dialing 866-356-3095 in the United States or 617-597-5391 outside the United States. The pass code is 34482388. Please call in 5 to 10 minutes prior to the scheduled start time. A replay of the conference call will be available until midnight ET, Aug. 17, 2007, by dialing 888-286-8010 in the United States or 617-801-6888 outside the United States. The pass code is 41207075. A replay, transcript and presentation slides in PDF format will also be available by accessing the event calendar of the Investor section of the partnership's Web site.

DCP Midstream Partners, LP (NYSE: DPM) is a midstream master limited partnership that gathers, processes, transports and markets natural gas, transports and markets natural gas liquids, and is a leading wholesale distributor of propane. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LLC, which is wholly owned by DCP Midstream, LLC, a joint venture between Spectra Energy and ConocoPhillips. For more information, visit the DCP Midstream Partners, LP Web site at

SOURCE DCP Midstream Partners, LP - 07/25/2007

Karen L. Taylor, +1-303-633-2913, or 24-Hour phone, +1-303-809-9160,
for DCP Midstream Partners, LP
Web site: