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Kinder Morgan Energy Partners Increases Quarterly Distribution To $1.35 Per Unit, Up 7%

Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today increased its quarterly cash distribution per common unit to $1.35 ($5.40 annualized) payable on Nov. 14, 2013, to unitholders of record as of Oct. 31, 2013. This represents a 7 percent increase over the third quarter 2012 cash distribution per unit of $1.26 ($5.04 annualized) and is up from $1.32 per unit ($5.28 annualized) for the second quarter of 2013. KMP has increased the distribution 49 times since current management took over in February 1997.

Chairman and CEO Richard D. Kinder said, “KMP had a strong third quarter as our stable and diversified assets continued to grow and produce incremental cash flow. Our five business segments produced $1.402 billion in segment earnings before DD&A and certain items, up 23 percent from the third quarter of 2012. Growth was spearheaded by the drop downs from Kinder Morgan, Inc. associated with its acquisition of El Paso Corporation last year, contributions from the midstream assets we acquired May 1, 2013, in the Copano Energy transaction, increased oil production in our CO 2 segment, and good results at our Products Pipelines and Terminals businesses. We continue to see robust growth opportunities across all of our business segments and currently have identified approximately $13.3 billion in expansion and joint venture investments at KMP that we are confident will come to fruition.”

KMP reported third quarter distributable cash flow before certain items of $554 million, up 22 percent from $455 million for the comparable period in 2012. Distributable cash flow per unit before certain items was $1.27 compared to $1.28 for the third quarter last year. Third quarter net income before certain items was $664 million compared to $574 million for the same period in 2012. Including certain items, net income was $697 million compared to $408 million for the third quarter last year. Certain items for the third quarter totaled a net gain of approximately $33 million versus a net loss of $166 million for the same period last year. Certain items principally reflected a gain on the sale of an offshore Tennessee Gas Pipeline (TGP) system.

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