Williams Partners Reports Second-Quarter 2012 Financial Results

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

Summary Financial Information		2Q									YTD
Amounts in millions, except per-unit amounts.		2012				2011					2012				2011
(Unaudited)
Net income		$	193			$	338				$	541			$	645
Net income per common L.P. unit		$	0.29			$	0.91				$	1.11			$	1.72
Distributable cash flow (DCF) (1)		$	293			$	397				$	768			$	838
Cash distribution coverage ratio (1)		0.79x				1.39x					1.04x				1.49x

(1) Distributable Cash Flow and Cash Distribution Coverage Ratio are non-GAAP measures. Reconciliations to the most relevant measures included in GAAP are attached to this news release.

Williams Partners L.P. (NYSE: WPZ) today announced unaudited second-quarter 2012 net income of $193 million, or $0.29 per common limited-partner unit, compared with second-quarter 2011 net income of $338 million, or $0.91 per common unit.

Year-to-date through June 30, Williams Partners reported net income of $541 million, or $1.11 per common limited-partner unit, compared with $645 million, or $1.72 per common limited-partner unit, for the first half of 2011.

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