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 second quarter of 2005. The indicated annual rate is $3.20. The distribution is payable August 12, 2005 to unitholders of record July 29, 2005. Northern Border Partners, L.P. is a publicly traded partnership formed 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.