DCP Midstream Partners Declares 15th Consecutive Quarterly Distribution Increase

DCP MIDSTREAM PARTNERS DECLARES 15^th CONSECUTIVE QUARTERLY DISTRIBUTION INCREASE

DENVER - July 28, 2014 - DCP Midstream Partners, LP DPM announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.7575 per common unit for the quarter ended June 30, 2014, or $3.03 per unit on an annualized basis. This represents an increase of 1.7 percent over the last quarterly distribution of $0.745 per unit paid May 15, 2014 and a 6.7 percent increase over the $0.71 per unit distribution declared with respect to the second quarter of 2013. The quarterly cash distribution will be paid August 15, 2014, to unitholders of record at the close of business August 8, 2014.

ABOUT DCP MIDSTREAM PARTNERS, LP
DCP Midstream Partners, LP 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 recovering and selling condensate; and transporting, storing and selling propane in wholesale markets. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LP, which in turn is managed by its general partner, DCP Midstream GP, LLC, which is 100% owned by DCP Midstream, LLC, a joint venture between Phillips 66 and Spectra Energy. For more information, visit the DCP Midstream Partners, LP website at www.dcppartners.com.

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