MGG Magellan Midstream Hldgs Lp

TULSA, Okla., Jan. 26 /PRNewswire-FirstCall/ -- The board of directors for the general partner of Magellan Midstream Holdings, L.P. (NYSE:MGG) has increased the partnership's quarterly cash distribution to 24.6 cents per unit for the period Oct. 1 through Dec. 31, 2006. The fourth-quarter distribution represents a 26.2% increase over the expected quarterly distribution rate of 19.5 cents stated in the partnership's Feb. 2006 initial public offering prospectus and a 5.6% increase over the third-quarter 2006 distribution of 23.3 cents per unit. The new distribution, which equates to 98.4 cents per unit on an annualized basis, will be paid Feb. 14, 2007 to unitholders of record at the close of business on Feb. 5. MGG owns the general partner interest and incentive distribution rights of Magellan Midstream Partners, L.P. (NYSE:MMP). The partnership currently has no separate operating activities apart from those conducted by MMP, and its cash flow is derived from cash distributions received from MMP. Related to fourth quarter 2006, MGG will receive distributions of $16.2 million from its ownership interest in MMP, almost all of which is available for distribution to MGG unitholders. The partnership plans to announce fourth-quarter earnings before the market opens on Wed., Jan. 31. An analyst conference call is scheduled at 1:30 p.m. Eastern the same day. To participate, dial (800) 500-0311 and provide code 6674832. Investors also may listen to the call via the partnership's web site at http://www.mgglp.com/investors/calendar.asp . About Magellan Midstream Holdings, L.P. Magellan Midstream Holdings, L.P. is a publicly traded partnership formed to own the general partner interest and 100% of the incentive distribution rights in Magellan Midstream Partners, L.P. (NYSE:MMP), which primarily transports, stores and distributes refined petroleum products. More information is available at http://www.mgglp.com/ . Portions of this document may constitute forward-looking statements as defined by federal law. Although management believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Additional information about issues that could lead to material changes in performance is contained in the partnership's filings with the Securities and Exchange Commission. Contact: Paula Farrell (918) 574-7650 http://www.newscom.com/cgi-bin/prnh/20060201/DAW022LOGO http://photoarchive.ap.org/ DATASOURCE: Magellan Midstream Holdings, L.P. CONTACT: Paula Farrell of Magellan Midstream Holdings, L.P., +1-918-574-7650, or Web site: http://www.mgglp.com/ http://www.mgglp.com/investors/calendar.asp

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