Taylor NGL Limited Partnership
TSX : TAY.UN
TSX : TAY.DB

Taylor NGL Limited Partnership

November 27, 2007 11:03 ET

Taylor NGL Limited Partnership Announces December 2007 Distribution and Clarification of January 2008 Distribution

CALGARY, ALBERTA--(Marketwire - Nov. 27, 2007) - Taylor Gas Liquids Ltd., general partner of Taylor NGL Limited Partnership (TSX:TAY.UN) (TSX:TAY.DB), is pleased to announce a cash distribution of $0.0625 per limited partnership unit to be paid on December 15, 2007 to unitholders of record on December 10, 2007.

Further to the November 12, 2007 announcement by AltaGas Income Trust of its intention to acquire the units of Taylor NGL Limited Partnership, Taylor intends to make a distribution to its unitholders in January 2008. In anticipation of AltaGas acquiring the units of Taylor NGL Limited Partnership in early January 2008, the record date for Taylor's January distribution will be adjusted to a date prior to the acquisition date to ensure that Taylor's unitholders receive this distribution.

Taylor also announces that it has entered into a series of financial swap arrangements that have the effect of fixing NGL margin, also known as frac spread, at approximately $26.00 per barrel for the period April 1 through December 31, 2008 on 21,000 barrels of propane-plus per month. The hedged volume is equal to approximately 20% of the Partnership's NGL production that is exposed to fluctuations in frac spread. This hedge, when combined with the Partnership's existing hedge program, will result in approximately 40% of the Partnership's NGL production being hedged for the period April through December 2008. These swap arrangements fix commodity-based revenue on a portion of the Partnership's NGL production at a level that is significantly above the long-term average.

CORPORATE INFORMATION

Taylor NGL Limited Partnership develops and invests in energy infrastructure opportunities in the areas of power generation, natural gas processing, and natural gas liquids production, processing, terminalling and pipelining.

Taylor currently owns and operates the Harmattan Complex, the RET Complex and the Joffre Extraction Plant, all in Alberta, and the Younger Extraction Plant in British Columbia. The Joffre and Younger plants are natural gas liquids extraction facilities that produce ethane, propane, butane and condensate. The Harmattan Complex and the RET Complex are natural gas processing facilities that provide services to oil and natural gas producers. The Partnership also owns two NGL pipelines - the Ethylene Delivery System and the Joffre Feedstock Pipeline, both of which move products between Joffre, Alberta and Fort Saskatchewan, Alberta. In addition, the Partnership has an interest in a run-of-river power generation facility located in British Columbia.

Taylor NGL Limited Partnership units and convertible debentures trade on the Toronto Stock Exchange (TSX) under the symbol TAY.UN and TAY.DB, respectively.

This press release contains certain forward-looking statements that are based on the Partnership's current expectations, estimates, projections and assumptions in light of its experience and its view of historical trends. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expects", "projects", "plans", "anticipates", "targets" and similar expressions. These statements are not guarantees of future performance and are subject to a number of risks and uncertainties as detailed in the Partnership's Annual Information Form under the heading "Risk Factors". Undue reliance should not be placed on these forward-looking statements, as known and unknown risks and uncertainties may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Examples of areas of risk and uncertainty include: volume of natural gas delivered for processing at the Partnership's facilities; ability of the facilities to process the natural gas delivered; cost of operating the facilities; cost of maintaining the facilities; and volume and value, net of feedstock costs, of the Partnership's proprietary products such as natural gas liquids (NGL), frac oil and CO2. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted. Such forward-looking statements are expressly qualified by the above statements.

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