Pacific Energy Partners, L.P. Declares Increase in Cash Distribution f

    Business Editors/Energy Editors

    LONG BEACH, Calif.--(BUSINESS WIRE)--Jan. 21, 2005--Pacific Energy Partners, L.P. (NYSE:PPX) announced an increase in its cash distribution for the quarter ended December 31, 2004, to $0.50 per unit ($2.00 per unit annualized). This distribution, which is payable February 14, 2005, to unitholders of record as of January 31, 2005, represents a 2.6 percent increase over the distribution for the quarter ended September 30, 2004, of $0.4875 per unit ($1.95 per unit annualized).
    Pacific Energy Partners, L.P. is a master limited partnership headquartered in Long Beach, California. Pacific Energy is engaged principally in the business of gathering, transporting, storing and distributing crude oil and other related products in California and the Rocky Mountain region, including Alberta, Canada. Pacific Energy generates revenues primarily by transporting crude oil on its pipelines and by leasing capacity in its storage facilities. Pacific Energy also buys, blends and sells crude oil, activities that are complementary to its pipeline transportation business.

    This news release may include "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included or incorporated herein may constitute forward-looking statements. Although Pacific Energy believes that the forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that may affect Pacific Energy's operations and financial performance. Among the factors that could cause results to differ materially are those risks discussed in Pacific Energy's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2003.
    For additional information, please visit the Pacific Energy Partners, L.P. website at www.PacificEnergy.com.

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CONTACT: Pacific Energy Partners, L.P. Aubrye Harris, 562/728-2871 562/728-2881 (fax) aharris@PacificEnergy.com

KEYWORD: CALIFORNIA INTERNATIONAL CANADA INDUSTRY KEYWORD: OIL/GAS ENERGY DIVIDEND SOURCE: Pacific Energy Partners, L.P.

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