DCP Midstream Partners Announces Quarterly Distribution

DENVER, Oct. 27, 2016 -- DCP Midstream Partners, LP (NYSE:DPM) (the “Partnership”) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.78 per common unit for the quarter ended September 30, 2016, or $3.12 per unit on an annualized basis. This distribution remains unchanged from the previous quarter. This quarterly cash distribution will be paid November 14, 2016, to unitholders of record at the close of business on November 8, 2016.

This serves as qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b).  Please note that 100 percent of the Partnership's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business.  Accordingly, the Partnership's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.  Nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

ABOUT DCP MIDSTREAM PARTNERS, LP
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 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 Corp. For more information, visit the DCP Midstream Partners, LP website at www.dcppartners.com.