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Hiland Announces Quarterly Distribution Declarations

Posted on: Friday, 24 October 2008, 09:00 CDT

ENID, Okla., Oct. 24 /PRNewswire-FirstCall/ -- The Hiland companies, Hiland Partners, LP and Hiland Holdings GP, LP today announced the following quarterly distribution declarations.

Hiland Partners, LP

The Board of Directors of Hiland Partners GP, LLC, the managing general partner of Hiland Partners, LP, today announced an increase in its cash distribution for the third quarter of 2008. The declared quarterly distributions on the Partnership's common and subordinated units will increase to $0.88 per unit (an annualized rate of $3.52 per unit) from $0.8625 per unit (an annualized rate of $3.45 per unit). This represents a 2.0% increase over the prior quarter and a 16.6% increase over the distribution for the same quarter of the prior year. The distribution will be payable on November 14, 2008 to Unitholders of record on November 4, 2008.

Hiland Holdings GP, LP

The Board of Directors of Hiland Partners GP Holdings, LLC, the general partner of Hiland Holdings GP, LP, today announced an increase in its cash distribution for the third quarter of 2008. The declared quarterly distributions on the Partnership's units will increase to $0.3175 per unit (an annualized rate of $1.27 per unit) from $0.3050 per unit (an annualized rate of $1.22 per unit). This represents a 4.1% increase over the prior quarter and a 38.0% increase over the distribution for the same quarter of the prior year. The distribution will be payable on November 19, 2008 to Unitholders of record on November 4, 2008.

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Please note that one hundred (100.0%) percent of Hiland's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, Hiland's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

About the Hiland Companies

Hiland Partners, LP is a publicly traded midstream energy partnership engaged in purchasing, gathering, compressing, dehydrating, treating, processing and marketing natural gas, and fractionating, or separating, and marketing of natural gas liquids, or NGLs. The Partnership also provides air compression and water injection services to an oil and gas exploration and production company for use in its oil and gas secondary recovery operations. The Partnership's operations are primarily located in the Mid-Continent and Rocky Mountain regions of the United States. Hiland Partners, LP's midstream assets consist of fourteen natural gas gathering systems with approximately 2,079 miles of gathering pipelines, five natural gas processing plants, seven natural gas treating facilities and three NGL fractionation facilities. The Partnership's compression assets consist of two air compression facilities and a water injection plant.

Hiland Holdings GP, LP owns the two percent general partner interest, 2,321,471 common units and 3,060,000 subordinated units in Hiland Partners, LP, and the incentive distribution rights of Hiland Partners, LP.

The information contained in this press release is available on the Partnership's website at http://www.hilandpartners.com/. For more information, please contact Derek Gipson, Director -- Business Development & Investor Relations, at 580.242.6040.

Hiland Partners, LP; Hiland Holdings GP, LP

CONTACT: Derek Gipson, Director -- Business Development & InvestorRelations, +1-580-242-6040, for Hiland Partners, LP and Hiland Holdings GP,LP

Web site: http://www.hilandpartners.com/

Source: PRNewswire-FirstCall

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