News Release

DENVER--(BUSINESS WIRE)-- DCP Midstream Partners, LP (NYSE: DPM) today announced that the board of directors of its general partner declared a quarterly cash distribution of $0.625 per unit for the quarter ended March 31, 2011. This represents an increase of 1.2 percent over the last quarterly distribution of $0.6175 per unit paid on February 14, 2011. The quarterly cash distribution will be paid on May 13, 2011, to unitholders of record at the close of business on May 6, 2011. This quarterly distribution equates to $2.50 per unit on an annual basis.

DCP Midstream Partners, LP (NYSE: DPM) is a midstream master limited partnership that gathers, treats, processes, transports and markets natural gas, transports and markets natural gas liquids, and is a leading wholesale distributor of propane. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LLC, which is wholly owned by DCP Midstream, LLC, a joint venture between Spectra Energy and ConocoPhillips. For more information, visit the DCP Midstream Partners, LP Web site at http://www.dcppartners.com.

Source: DCP Midstream Partners, LP