MGG Magellan Midstream Hldgs Lp

TULSA, Okla., April 24 /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 32.25 cents per unit for the period Jan. 1 through March 31, 2008, representing its ninth consecutive quarterly distribution increase. The first-quarter distribution represents a 23% increase over the first-quarter 2007 distribution of 26.15 cents and a 5% increase over the fourth-quarter 2007 distribution of 30.7 cents per unit. The new distribution, which equates to $1.29 per unit on an annualized basis, will be paid May 15, 2008 to unitholders of record at the close of business on May 6. 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 first quarter 2008, MGG will receive distributions of $20.9 million from its ownership interest in MMP, almost all of which is available for distribution to MGG unitholders. The partnership plans to announce first-quarter earnings before the market opens on Tues., May 6. An analyst conference call is scheduled at 1:30 p.m. Eastern the same day. To participate, dial (888) 596-2573 and provide code 4963639. Investors also may listen to the call via the partnership's website at http://www.mgglp.com/webcasts.asp. About Magellan Midstream Holdings, L.P. Magellan Midstream Holdings, L.P. (NYSE:MGG) 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 for Magellan Midstream Holdings, L.P., +1-918-574-7650, Web site: http://www.mgglp.com/

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