Alerian Announces PAA Natural Gas Storage Added to the Alerian MLP Index

DALLAS, Nov. 16, 2010 /PRNewswire/ -- Alerian announced today that PAA Natural Gas Storage LP (NYSE: PNG) is expected to be added to the Alerian MLP Index (NYSE: AMZ), replacing Buckeye GP Holdings LP (NYSE: BGH) in a special rebalancing.

Special rebalancings are triggered by corporate actions that result in the termination of trading of an index constituent on a major US exchange. Such corporate actions include, but are not limited to, mergers, delistings, and bankruptcies. Subject to unitholder approval, BGH will cease to trade on the New York Stock Exchange due to its merger with Buckeye Partners LP (NYSE: BPL).

PNG is a publicly traded master limited partnership engaged in the development, acquisition, operation, and commercial management of natural gas storage facilities. PNG currently owns and operates two natural gas storage facilities located in Louisiana and Michigan.

PNG Shares Outstanding: 57,020,756

PNG Investable Weight Factor: 0.23167490939615

The 50 constituents of the index will be rebalanced on a float-adjusted, capitalization-weighted basis in accordance with the existing index methodology. Constituent additions to and deletions from the index do not reflect an opinion by Alerian on the investment merits of the respective securities.

About the Alerian MLP Index

The Alerian MLP Index is a composite of the 50 most prominent energy Master Limited Partnerships that provides investors with an unbiased, comprehensive benchmark for this emerging asset class. The index, which is calculated using a float-adjusted, capitalization-weighted methodology, is disseminated real-time on a price-return basis (NYSE: AMZ), and the corresponding total-return index is disseminated daily through ticker AMZX. Relevant data points such as dividend yield are also published daily. For index values, constituents, and announcements regarding constituent changes, please visit www.alerian.com.

About Alerian

Alerian is an independent company that provides objective market information. The company is a leader in MLP-market intelligence, providing benchmarks, data sets, and analytics that are used extensively by a range of stakeholders such as investment banks, stock exchanges, investment professionals, consultants, and Master Limited Partnerships. The Alerian Index Series is used for the purposes of asset allocation, investment analysis, portfolio hedging, and the creation of index tracking funds. Alerian is widely known for maintaining the leading benchmark of MLP equities: the Alerian MLP Index (NYSE: AMZ). For more information, please visit www.alerian.com.

SOURCE Alerian

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