DCP Midstream Partners LP : DCP Midstream Partners Declares Increase in Quarterly Distribution

   DCP Midstream Partners LP : DCP Midstream Partners Declares Increase in
                            Quarterly Distribution





                       DCP MIDSTREAM PARTNERS DECLARES
                      INCREASE IN QUARTERLY DISTRIBUTION

DENVER - Jan. 28, 2013 - DCP Midstream Partners, LP (NYSE: DPM) today
announced that the board of directors of its general partner declared a
quarterly cash distribution of $0.69 per unit for the quarter ended December
31, 2012. This represents an increase of 1.5 percent over the last quarterly
distribution of $0.68 per unit paid November 14, 2012. The quarterly cash
distribution will be paid February 14, 2013, to unitholders of record at the
close of business February 7, 2013. This quarterly distribution equates to
$2.76 per unit on an annual basis.

DCP Midstream Partners, LP (NYSE: DPM) is a midstream master limited
partnership engaged in the business of gathering, compressing, treating,
processing, transporting, storing and selling natural gas; producing,
fractionating, transporting, storing and selling NGLs and condensate; and
transporting, storing and selling propane in wholesale markets. 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 Phillips 66. For more information, visit the DCP Midstream Partners, LP
website at www.dcppartners.com

DCP Midstream Partners, LP
Media and Investor Relations Contact:
Jonni Anwar
303-605-1868
24-Hour: 303-887-5419
www.dcppartners.com

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Source: DCP Midstream Partners LP via Thomson Reuters ONE
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