QEP Midstream Partners, LP Closes Option To Purchase Additional Common Units In Full

 QEP Midstream Partners, LP Closes Option To Purchase Additional Common Units
                                   In Full

PR Newswire

DENVER, Sept. 4, 2013

DENVER, Sept. 4, 2013 /PRNewswire/ --QEP Midstream Partners, LP ("QEPM" or
the "Partnership") today announced that the underwriters of its recently
completed initial public offering have purchased an additional 3,000,000
common units, representing limited partner interests in the Partnership, at a
price to the public of $21.00 per common unit, pursuant to the exercise of the
option to purchase up to an additional 3,000,000 common units granted to the
underwriters. QEPM's initial public offering of 20,000,000 common units
closed on August 14, 2013. The common units trade on the New York Stock
Exchange under the ticker symbol "QEPM."

(Logo: http://photos.prnewswire.com/prnh/20130904/LA74347LOGO)

Net proceeds received by the Partnership from the sale of the additional
common units were approximately $58.9 million in the aggregate, after
deducting underwriting discounts and commissions and expenses. The
Partnership used the net proceeds of approximately $58.9 million to redeem
3,000,000 common units held by an affiliate of QEP Resources, Inc. ("QEP").
The public now owns an approximate 42.2% limited partner interest in the
Partnership. QEP, through certain of its subsidiaries, holds, a 2.0% general
partner interest, all of the Partnership's incentive distribution rights and
an approximate 55.8% limited partner interest in the Partnership.

Wells Fargo Securities, Morgan Stanley, Citigroup, Deutsche Bank Securities
and J.P. Morgan acted as joint book-running managers for the offering;
Goldman, Sachs & Co. acted as a senior co-manager and BMO Capital Markets,
SunTrust Robinson Humphrey, BB&T Capital Markets, CIBC, Mitsubishi UFJ
Securities, Piper Jaffray, TD Securities and Janney Montgomery Scott acted as
co-managers for the offering.

The initial public offering of common units was made only by means of a
prospectus. A written prospectus, which meets the requirements of Section 10
of the Securities Act of 1933, as amended, may be obtained through:

Wells Fargo Securities
Attn: Equity Syndicate Department
375 Park Avenue
New York, New York 10152
Telephone: (800) 326-5897
Email: cmclientsupport@wellsfargo.com

Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Telephone: 866-718-1649
Email: prospectus@morganstanley.com

c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 1-800-831-9146
Email: batprospectusdept@citi.com

Deutsche Bank Securities
Attn: Prospectus Group
60 Wall Street, New York, NY 10005-2836
Telephone: 1-800-503-4611
Email: prospectus.CPDG@db.com

J.P. Morgan
via Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: (866) 803-9204

To obtain a copy of the prospectus free of charge, visit the U.S. Securities
and Exchange Commission's ("SEC") website, www.sec.gov, and search under the
registrant's name, "QEP Midstream Partners, LP."

A registration statement relating to these securities has been filed with, and
declared effective by, the SEC. The registration statement is available on
the SEC's website at www.sec.gov under the registrant's name, "QEP Midstream
Partners, LP." This press release shall not constitute an offer to sell or
the solicitation of an offer to buy the securities, nor shall there be any
sale of these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.

About QEP Midstream Partners, LP:

QEP Midstream Partners, LP is a master limited partnership formed by QEP
Resources, Inc. to own, operate, acquire and develop midstream assets. The
Partnership provides midstream gathering services to QEP and third-party
companies in the Green River, Uinta and Williston basins.

Forward-Looking Statements

Disclosures in this press release contain certain forward-looking statements
within the meaning of the federal securities laws. Statements that do not
relate strictly to historical or current facts are forward-looking. These
statements contain words such as "possible," "if," "will" and "expect" and
involve risks and uncertainties including, among others that our business
plans may change as circumstances warrant. Accordingly, investors should not
place undue reliance on forward-looking statements as a prediction of actual
results. Neither QEP nor QEPM undertake any obligation to update or revise
such forward-looking statements to reflect events or circumstances that occur,
or of which QEP or QEPM becomes aware, after the date hereof.

QEP Midstream Partners, LP
Greg Bensen
Director, Investor Relations

SOURCE QEP Midstream Partners, LP
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