Suburban Propane Partners, L.P. Declares $0.10 per Common Unit Increase in Annualized Distribution Rate to $3.20 per Common Unit

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Suburban Propane Partners, L.P. Declares $0.10 per Common Unit Increase in Annualized Distribution Rate to $3.20 per Common Unit

    WHIPPANY, N.J., July 24 /PRNewswire-FirstCall/ -- Suburban Propane
Partners, L.P. (NYSE: SPH), a distributor of propane gas, fuel oil and
related products and services, as well as a marketer of natural gas and
electricity, today announced that its Board of Supervisors declared the
eighteenth increase (since the Partnership's recapitalization in 1999) in
the Partnership's quarterly distribution from $0.775 to $0.80 per Common
Unit for the three months ended June 28, 2008. The distribution equates to
$3.20 per Common Unit annualized, an increase of $0.10 per Common Unit from
the previous distribution rate, and a growth rate of 12.3% compared to the
third quarter of fiscal 2007. The distribution at this increased rate is
payable on August 12, 2008 to Common Unitholders of record as of August 5,
2008.

    In announcing the increase in the distribution rate, Chief Executive
Officer Mark A. Alexander said, "We are extremely pleased to declare our
ninth consecutive increase in our quarterly distribution, which equates to
an annualized rate of $3.20 per Common Unit and which represents more than
12% growth year-over-year. With our financial stability and strong
operating platform, we are well positioned to withstand the challenging
operating environment impacting our industry as a result of unprecedented
high commodity prices, and we remain firmly committed to delivering
sustainable, profitable growth."

    Suburban Propane Partners, L.P. is a publicly traded Master Limited
Partnership listed on the New York Stock Exchange. Headquartered in
Whippany, New Jersey, Suburban has been in the customer service business
since 1928. The Partnership serves the energy needs of approximately
1,000,000 residential, commercial, industrial and agricultural customers
through approximately 300 locations in 30 states.

SOURCE Suburban Propane Partners, L.P.

http://suburbanpropane.com/

http://www.prnewswire.com/comp/112074.html /
CONTACT:
Michael Stivala, Chief Financial Officer &
Chief Accounting Officer of Suburban Propane Partners, L.P.,
+1-973-503-9252