Williams Partners L.P. Prices Equity Offering

Williams Partners L.P. (NYSE: WPZ) has priced its previously announced offering of 6.6 million of its common units at a price of $31.25 per unit.

The underwriters have been granted a 30-day option to purchase up to an additional 990,000 common units to cover over-allotments, if any.

Williams Partners intends to use the net proceeds of the offering to fund a portion of the purchase price for its acquisition of a 25.1 percent interest in Williams Four Corners LLC, a subsidiary of The Williams Companies, Inc. (NYSE: WMB), which at closing will own certain natural gas gathering, processing and treating assets in the San Juan Basin in Colorado and New Mexico.

Lehman Brothers Inc. and Citigroup Global Markets Inc. were the joint book-running managers for the offering. In addition, A.G. Edwards & Sons, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wachovia Capital Markets, LLC, RBC Capital Markets Corporation and Raymond James & Associates, Inc. acted as co-managers for the offering.

A copy of the final prospectus relating to this offering -- when available -- may be obtained from any of the underwriters, including Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY, 11717, fax (631) 254-7268 or Citigroup Global Markets Inc., Brooklyn Army Terminal, Attn: Prospectus Delivery Department, 140 58th Street, Brooklyn, NY, 11220, phone (718) 765-6732.

Williams Partners L.P. primarily gathers, transports and processes natural gas and fractionates and stores natural gas liquids. The general partner is Williams Partners GP LLC.


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