HOUSTON, Jan 21, 2004 /PRNewswire-FirstCall via COMTEX/ -- Natural Resource Partners L.P.
(NYSE: NRP) today announced an increase of $0.025 per unit in its quarterly
distribution to $0.5625 per unit, or $2.25 per unit on an annualized basis.
The distribution is payable on February 13, 2004 to unitholders of record on
February 2, 2004.
"This distribution represents the third increase since our initial public
offering in October 2002 and represents an approximate 10% increase in the
quarterly distribution over that period. We have completed six accretive
acquisitions to date, and we are pleased to be able to share our success with
our unitholders," said Corbin J. Robertson, Jr., Chairman and Chief Executive
Officer.
Natural Resource Partners L.P. is headquartered in Houston, TX, with its
operations headquarters in Huntington, WV. NRP is a master limited
partnership that is principally engaged in the business of owning and managing
coal properties in the three major coal producing regions of the United
States: Appalachia, the Illinois Basin and the Powder River Basin.
For additional information, please contact Kathy Hager at 713-751-7555 or
khager@nrplp.com . Further information about NRP is available on the
partnership's website at http://www.nrplp.com .
This press release may include "forward-looking statements" as defined by
the Securities and Exchange Commission. All statements, other than statements
of historical facts, included in this press release that address activities,
events or developments that the partnership expects, believes or anticipates
will or may occur in the future are forward-looking statements. These
statements are based on certain assumptions made by the partnership based on
its experience and perception of historical trends, current conditions,
expected future developments and other factors it believes are appropriate in
the circumstances. Such statements are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of the
partnership. These risks include, but are not limited to, decreases in demand
for coal; changes in operating conditions and costs; production cuts by our
lessees; commodity prices; unanticipated geologic problems; changes in the
legislative or regulatory environment and other factors detailed in Natural
Resource Partners' Securities and Exchange Commission filings. Natural
Resource Partners L.P. has no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
events or otherwise.
SOURCE Natural Resource Partners L.P.
Kathy Hager of Natural Resource Partners L.P., +1-713-751-7555,
or khager@nrplp.com