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Natural Resource Partners L.P. Increases Distribution and Announces Final Conversion of NSP Units

10/17/2007

HOUSTON, Oct. 17 /PRNewswire-FirstCall/ -- Natural Resource Partners L.P. (NYSE: NRP) and (NYSE: NSP) today announced that the Board of Directors of its general partner has declared a third quarter 2007 distribution of $0.475 per unit for both NRP and NSP, an increase of $0.01 in its quarterly distribution. This equates to an annualized distribution of $1.90 per unit. The distribution will be paid on November 14, 2007 to unitholders of record on November 1, 2007. This makes the seventeenth consecutive quarter that the partnership has increased its distribution and represents a 2.2% increase over the second quarter distribution and an 11.8% increase over the same quarter last year.

In conjunction with the payment of the third quarter distribution, the partnership also announced that in accordance with its partnership agreement, effective at the close of trading on November 14, 2007, there will be a mandatory and automatic conversion on a one-for-one basis of all outstanding subordinated units into common units. The subordinated units are traded under the ticker symbol NSP and the common units are traded under the ticker symbol NRP. Following the conversion there will only be one ticker symbol traded for Natural Resource Partners (NYSE: NRP).

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, and coal handling and transportation infrastructure in the three major coal producing regions of the United States: Appalachia, the Illinois Basin and the Powder River Basin. In addition, the partnership also manages aggregate reserves, oil and gas properties and timber assets across the United States.

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.

SOURCE
Natural Resource Partners L.P.

CONTACT:
Kathy Hager of Natural Resource Partners L.P., +1-713-751-7555, khager@nrplp.com

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