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DCP Midstream Partners Declares Increase in Quarterly Distribution; Invites Investors to First Quarter 2008 Earnings Call

DENVER, April 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 $0.59 per unit for the quarter ended March 31, 2008. This represents an increase of 3.5 percent over the last quarterly distribution of $0.57 per unit paid on Feb. 14, 2008, and a 26.9 percent increase over the quarterly distribution paid for the first quarter of 2007 of $0.465 per unit. The quarterly cash distribution will be paid on May 15, 2008, to unitholders of record at the close of business on May 8, 2008. This quarterly distribution equates to $2.36 per unit on an annual basis.

DCP Midstream Partners will announce its earnings for the quarter ended March 31, 2008, after the New York Stock Exchange closes for trading on Wednesday, May 7, 2008. An earnings conference call for investors and analysts is scheduled for 11 a.m. ET on Thursday, May 8, 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 5 p.m. ET, May 16, 2008, by dialing 877-344-7529 in the United States or 412-317-0088 outside the United States. The passcode is 418892. 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: Media and Investor Relations, Karen Taylor of DCP Midstream Partners, LP, +1-303-633-2913, 24-hour, +1-303-809-9160