Williams Partners Raises Cash Distribution To 79.25 Cents Per Unit

Williams Partners L.P. (NYSE: WPZ) announced today that the regular quarterly cash distribution its unitholders receive has been increased to $0.7925 per unit.

The board of directors of the partnership’s general partner has approved the quarterly cash distribution, which is payable on Aug. 10, 2012, to unitholders of record at the close of business on Aug. 3.

The new per-unit amount is an 8.2-percent increase over the partnership’s distribution of $0.7325 per unit that was paid in August 2011. It is also a 2-percent increase over the partnership’s first-quarter 2012 distribution of $0.7775 per unit.

This announcement is intended to be a qualified notice to nominees under Treasury Regulation Section 1.1446-4(b)(4) and (d), with 100 percent of the partnership’s distributions to foreign investors attributable to income that is effectively connected with a United States trade or business. Accordingly, the partnership’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate. Nominees, and not Williams Partners L.P., are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.

About Williams Partners L.P. (NYSE: WPZ)

Williams Partners L.P. is a leading diversified master limited partnership focused on natural gas transportation; gathering, treating, and processing; storage; natural gas liquid (NGL) fractionation; and oil transportation. The partnership owns interests in three major interstate natural gas pipelines that, combined, deliver 14 percent of the natural gas consumed in the United States. The partnership’s gathering and processing assets include large-scale operations in the U.S. Rocky Mountains and both onshore and offshore along the Gulf of Mexico. Williams (NYSE: WMB) owns approximately 68 percent of Williams Partners, including the general-partner interest. More information is available at www.williamslp.com.

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the partnership believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the partnership’s annual reports filed with the Securities and Exchange Commission.

Copyright Business Wire 2010