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DCP Midstream Partners Declares Increase in Quarterly Distribution; Invites Investors to Fourth Quarter and Year End 2007 Earnings Call

DENVER, Jan. 24 /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 $0.57 per unit for the quarter ended Dec. 31, 2007. This represents an increase of 3.6 percent over the last quarterly distribution of $0.55 per unit paid on Nov. 14, 2007, and a 32.6 percent increase over the quarterly distribution paid for the fourth quarter of 2006 of $0.43 per unit. The quarterly cash distribution will be paid on Feb. 14, 2008, to unitholders of record at the close of business on Feb. 7, 2008. This quarterly distribution equates to $2.28 per unit on an annual basis.

DCP Midstream Partners will announce its earnings for the quarter ended Dec. 31, 2007, after the New York Stock Exchange closes for trading on Wednesday, Feb. 20, 2008. An earnings conference call for investors and analysts is scheduled for 11 a.m. ET on Thursday, Feb. 21, 2008. The conference call can be accessed via Webcast through the Investor section of DCP Midstream Partners' Web site at or by dialing 800-860-2442 in the United States or 412-858-4600 outside the United States. 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, Feb. 29, 2008, by dialing 877-344-7529 in the United States or 412-317-0088 outside the United States. The passcode is 415112. A replay, transcript and presentation slides in PDF format will also be available by accessing 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

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