NBP National Beef

GREEN BAY, Wis., April 28 /PRNewswire-FirstCall/ -- WPS Resources Corporation (NYSE:WPS) announced today that it has completed the sale of its one-third interest in Guardian Pipeline, L.L.C., to Northern Border Partners, L.P. (NYSE:NBP). WPS Resources and Northern Border originally agreed to the sale on March 30, 2006. WPS Resources received $38.5 million for its one- third share of Guardian Pipeline, which will result in an after-tax gain for WPS Resources of approximately $3.7 million. "Our investment in Guardian Pipeline has generated positive returns for our company," said Larry Weyers, Chairman, President and Chief Executive Officer of WPS Resources. "We believe the sale is good for customers since Guardian Pipeline will now have one owner. The sale also provides a good opportunity for WPS Resources to redeploy the proceeds into other investment opportunities which will provide enhanced value to our shareholders." Both WPS Resources and Wisconsin Energy Corporation sold their interests in Guardian Pipeline to Northern Border Partners, which gives Northern Border Partners 100 percent ownership of Guardian Pipeline, L.L.C. On February 7, 2006, Guardian Pipeline announced that it plans to expand and extend the existing pipeline approximately 106 miles from Ixonia, Wisconsin, to the Green Bay, Wisconsin, area. The planned expansion will bring an additional 537,200 dekatherms per day of natural gas capacity to eastern Wisconsin. Forward-Looking Statements: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. You can identify these statements by the fact that they do not relate strictly to historical or current facts and often include words such as "anticipate," "expect," "intend" and other similar words. Forward-looking statements are beyond the ability of WPS Resources to control and, in many cases, WPS Resources cannot predict what factors would cause actual results to differ materially from those indicated by forward-looking statements. Please see WPS Resources' periodic reports filed with the Securities and Exchange Commission (including its 10-K and 10- Qs) for a listing of certain factors that could cause actual results to differ materially from those contained in forward-looking statements. About WPS Resources Corporation: WPS Resources Corporation, based in Green Bay, Wisconsin, is a holding company with both regulated and nonregulated energy-related subsidiaries. Its wholly owned regulated subsidiaries include Wisconsin Public Service Corporation, an electric and natural gas utility; Upper Peninsula Power Company, an electric utility; and Michigan Gas Utilities Corporation, a natural gas utility. Its wholly owned, nonregulated subsidiary is WPS Energy Services, Inc. DATASOURCE: WPS Resources Corporation CONTACT: Joseph P. O'Leary, Senior VP & CFO, WPS Resources Corporation, +1-920-433-1463 Web site: http://www.wpsr.com/

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