Oiltanking Partners, L.P. Increases the Distribution on Limited Partner Units

HOUSTON, Jan. 23, 2012 /PRNewswire/ -- Oiltanking Partners, L.P. (NYSE: OILT), announced today that the Board of Directors of its general partner has declared a cash distribution for the fourth quarter of 2011 of $0.34 per unit, or $1.36 per unit on an annualized basis, for all of its outstanding limited partner units.  For the prior quarter, the prorated distribution for the period after the closing date of Oiltanking Partners' initial public offering, July 19, 2011, through September 30, 2011 was $0.2678 per limited partnership unit, representing the minimum quarterly distribution of $0.3375 on a full quarter basis, or $1.35 on an annualized basis.  The distribution will be paid on February 14, 2012 to all unitholders of record on February 3, 2012.

Oiltanking Partners is a master limited partnership engaged in independent storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas.  We provide our services to a variety of customers, including major integrated oil companies, distributors, marketers and chemical and petrochemical companies. Our assets are located along the upper Gulf Coast of the United States.  For more information, visit www.oiltankingpartners.com.

Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements reflect Oiltanking Partners' current views with respect to future events, based on what it believes are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties as described in Oiltanking Partners' filings with the Securities and Exchange commission, available at the SEC's website at www.sec.gov. By issuing forward looking statements based on current expectations, opinions, views or beliefs, Oiltanking Partners has no obligation and, except as required by law, is not undertaking any obligation, to update or revise these statements or provide any other information relating to such statements.

This release is intended to be a qualified notice, as provided for under Treasury Regulation Section 1.1446-4(b), given by a publicly traded partnership for the broker and nominee to be treated as the withholding agent.  Brokers and nominees should treat one hundred percent (100.0%) of Oiltanking Partners' distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Oiltanking Partners' distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Contacts:
Ken Owen, Chief Financial Officer
[email protected]
281-457-7900

Jack Lascar / [email protected]
Lisa Elliott / [email protected]
DRG&L / 713-529-6600

SOURCE Oiltanking Partners, L.P.

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