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DCP Midstream Partners Declares Quarterly Distribution

DENVER, Oct. 23 /PRNewswire-FirstCall/ -- DCP Midstream Partners, LP (NYSE: DPM) (the Partnership) 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 Sept. 30, 2008. The distribution per unit is equal to the last quarterly distribution and a 9.1 percent increase over the quarterly distribution paid for the third quarter of 2007 of $0.55 per unit. The quarterly cash distribution will be paid on Nov. 14, 2008, to unitholders of record at the close of business on Nov. 7, 2008. This quarterly distribution equates to $2.40 per unit on an annual basis.


This release serves as qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b). Please note that 100 percent of the Partnership's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.

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, or 24-Hour, +1-303-809-9160