NBP National Beef

The Partnership Policy Committee of Northern Border Partners, L.P. (NYSE:NBP) today declared the Partnership's quarterly cash distribution of $0.80 per common unit for the fourth quarter of 2005. The indicated annual rate is $3.20 per unit. The distribution is payable February 14, 2006 to unitholders of record January 31, 2006. Northern Border Partners, L.P. is a publicly traded partnership whose purpose is to own, operate and acquire a diversified portfolio of energy assets. The Partnership owns and manages natural gas pipelines and is engaged in the gathering and processing of natural gas. More information may be found at http://www.northernborderpartners.com. This press release contains "forward-looking statements" as defined by federal law. Although the Partnership believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will occur as expected. Additional information about factors that could lead to material changes in actual results is contained in the Partnership's filings with the Securities and Exchange Commission.