Kaneb Pipe Line Partners, L.P. Declares Quarterly Cash Distribution

Apr 16, 2001, 01:00 ET from Kaneb Pipe Line Partners, L.P.

    DALLAS, April 16 /PRNewswire/ -- The Board of Directors of Kaneb Pipe Line
 Company, as general partner of Kaneb Pipe Line Partners, L.P. (NYSE:   KPP), has
 approved a quarterly cash distribution of $.70 for each Limited Partnership
 Unit.  The cash distribution is payable May 15, 2001, to all unitholders of
 record as of April 30, 2001.
     Kaneb Pipe Line Partners, L.P. was formed in September 1989 to own a
 2,075 mile common carrier pipeline system operating from Kansas to North
 Dakota that has been managed by Kaneb Pipe Line Company, the general partner,
 since 1953.  The Partnership increased its pipeline assets with the purchase
 of 550 miles of pipeline in Wyoming, Colorado and South Dakota in
 February 1995, and 175 miles in Iowa and South Dakota in December 1998.  The
 Partnership entered the liquids terminaling business with a large acquisition
 in 1993, and has more than tripled the size of this operation through
 subsequent acquisitions.  The Partnership is a major transporter of refined
 petroleum products in the Midwest and is the third largest independent liquids
 terminaling company in the United States.  Worldwide operations include
 68 facilities in 26 states, the District of Columbia, and the United Kingdom.
 Kaneb Pipe Line Company is a wholly-owned subsidiary of Kaneb Services, Inc.
 
 

SOURCE Kaneb Pipe Line Partners, L.P.
    DALLAS, April 16 /PRNewswire/ -- The Board of Directors of Kaneb Pipe Line
 Company, as general partner of Kaneb Pipe Line Partners, L.P. (NYSE:   KPP), has
 approved a quarterly cash distribution of $.70 for each Limited Partnership
 Unit.  The cash distribution is payable May 15, 2001, to all unitholders of
 record as of April 30, 2001.
     Kaneb Pipe Line Partners, L.P. was formed in September 1989 to own a
 2,075 mile common carrier pipeline system operating from Kansas to North
 Dakota that has been managed by Kaneb Pipe Line Company, the general partner,
 since 1953.  The Partnership increased its pipeline assets with the purchase
 of 550 miles of pipeline in Wyoming, Colorado and South Dakota in
 February 1995, and 175 miles in Iowa and South Dakota in December 1998.  The
 Partnership entered the liquids terminaling business with a large acquisition
 in 1993, and has more than tripled the size of this operation through
 subsequent acquisitions.  The Partnership is a major transporter of refined
 petroleum products in the Midwest and is the third largest independent liquids
 terminaling company in the United States.  Worldwide operations include
 68 facilities in 26 states, the District of Columbia, and the United Kingdom.
 Kaneb Pipe Line Company is a wholly-owned subsidiary of Kaneb Services, Inc.
 
 SOURCE  Kaneb Pipe Line Partners, L.P.