Magellan Midstream Partners Announces Death of Director
December 31 2008 - 1:03PM
PR Newswire (US)
TULSA, Okla., Dec. 31 /PRNewswire-FirstCall/ -- Magellan Midstream
Partners, L.P. (NYSE:MMP) announced today that John P. DesBarres, a
director of the partnership's general partner, passed away on Mon.,
Dec. 29. Mr. DesBarres had served as a director since May 19, 2005.
Mr. DesBarres also was chairman of the Compensation Committee and
one of three members of the Audit Committee. "John's business
judgment and knowledge of our industry developed through years of
experience were very valuable assets to Magellan," said Don
Wellendorf, chief executive officer. "He will be greatly missed
both personally and professionally." The company indicated that a
search for a replacement for Mr. DesBarres, who was one of three
independent members of the seven-seat board, will begin
immediately. About Magellan Midstream Partners, L.P. Magellan
Midstream Partners, L.P. (NYSE:MMP) is a publicly traded
partnership formed to own, operate and acquire a diversified
portfolio of energy assets. The partnership primarily transports,
stores and distributes refined petroleum products. More information
is available at http://www.magellanlp.com/. MMP's general partner
interest and related incentive distribution rights are owned by
Magellan Midstream Holdings, L.P. (NYSE:MGG). 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/20031107/DAMAGELOGO
http://photoarchive.ap.org/ DATASOURCE: Magellan Midstream
Partners, L.P. CONTACT: Paula Farrell of Magellan Midstream
Partners, L.P., +1-918-574-7650, Web Site:
http://www.magellanlp.com/
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