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DCP Midstream Partners Declares Increase in Quarterly Distribution

DENVER, July 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 $0.60 per unit for the quarter ended June 30, 2008. This represents an increase of 1.7 percent over the last quarterly distribution of $0.59 per unit paid on May 15, 2008, and a 13.2 percent increase over the quarterly distribution paid for the second quarter of 2007 of $0.53 per unit. The quarterly cash distribution will be paid on Aug. 14, 2008, to unitholders of record at the close of business on Aug. 7, 2008. This quarterly distribution equates to $2.40 per unit on an annual basis.

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 of DCP Midstream Partners, LP, +1-303-633-2913, 24-Hour, +1-303-809-9160