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

Taylor NGL Limited Partnership

February 28, 2007 12:26 ET

Taylor NGL Limited Partnership Announces March 2007 Distribution and Release of 2006 Tax Information

CALGARY, ALBERTA--(CCNMatthews - Feb. 28, 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 March 15 to unitholders of record on March 9, 2007.

Taylor also announces tax information with respect to 2006 cash distributions. This is to assist a holder of limited partnership units of Taylor NGL Limited Partnership who, for the purposes of the Income Tax Act of Canada (Act) is a resident of Canada and who holds the units as capital property. Unitholders are encouraged to seek advice from a qualified tax advisor with respect to the tax treatment of distributions received from Taylor. In 2006, cash distributions totaled $0.73250 per unit, of which $0.33253 per unit is a return of capital and $0.39997 per unit is business income. Unitholders holding their units outside of an RRSP, RRIF, DPSP or RESP will receive a "T5013 Slip - Statement of Partnership Income" from their brokerage firm. Any questions with respect to the T5013 should be directed to the applicable brokerage firm. Unitholders holding their units within an RRSP, RRIF, DPSP or RESP are not required to report any amounts on their 2006 Income Tax Returns.

As of February 27, 2007, Taylor has filed all of its 2006 disclosures including the Annual Information Form for the year ended December 31, 2006. All documents are now available on the Canadian Securities Administrators' website at www.sedar.com or at www.taylorngl.com.

Taylor's annual general meeting will be held on April 27, 2007, at 8:00 a.m. (Calgary time) in the Grand Lecture Theatre of the Metropolitan Conference Centre, located at 333-4th Avenue S.W., Calgary, Alberta.

The Partnership owns and operates the Harmattan Complex, the Joffre Extraction Plant and the RET Complex, all in Alberta, and the Younger Extraction Plant in British Columbia. The Partnership also owns two natural gas liquids pipelines, the Ethylene Delivery System and the Joffre Feedstock Pipeline, both of which move products between Joffre, Alberta and Fort Saskatchewan, Alberta. The Joffre and Younger plants are natural gas liquids extraction facilities that produce ethane, propane, butane and condensate. The RET Complex and the Harmattan Complex are natural gas processing facilities that provide services to oil and gas producers.

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

Contact Information