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NuStar GP Holdings, LLC Increases Fourth Quarter 2011 Distribution

NuStar GP Holdings, LLC (NYSE: NSH) today announced that distributable cash flow available to unitholders for the fourth quarter of 2011 was $21.5 million, or $0.51 per unit, compared to $19.6 million, or $0.46 per unit, for the fourth quarter of 2010. For the year ended December 31, 2011, distributable cash flow available to unitholders was $84.3 million, or $1.98 per unit, compared to $79.6 million, or $1.87 per unit in 2010.

Fourth quarter 2011 net income was $19.0 million, or $0.45 per unit, compared to $15.3 million, or $0.35 per unit, for the fourth quarter of 2010. For the year ended December 31, 2011, net income was $69.6 million, or $1.64 per unit, compared to $72.5 million, or $1.70 per unit in 2010.

With respect to the quarterly distribution to unitholders for the fourth quarter of 2011, NuStar GP Holdings, LLC announced that its board of directors has declared a distribution of $0.51 per unit. This quarterly distribution represents an increase of $0.015 per unit, or 3%, over the $0.495 distribution for the third quarter of 2011. The fourth quarter 2011 distribution will be paid on February 14, 2012, to holders of record as of February 7, 2012.

“Due primarily to the approximate 2% increase in NuStar Energy L.P’s 2011 distribution and the cash flow benefits realized as a result of NuStar Energy L.P. issuing equity during the fourth quarter of 2011, NuStar GP Holdings, LLC was able to increase its 2011 total distributions by 5.9%. Total 2011 declared distributions of $1.98 per unit were $0.11 per unit higher than the $1.87 per unit distribution declared in 2010,” said Curt Anastasio, President and Chief Executive Officer of NuStar Energy L.P. and NuStar GP Holdings, LLC.

Anastasio added, “In 2012, NuStar GP Holdings, LLC should benefit from increased EBITDA at NuStar Energy L.P. Internal growth projects completed in 2011 and 2012 by NuStar Energy L.P. should be the major contributors to the increase in EBITDA.”

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