Atlas Pipeline Partners, L.P. Announces Additional Hedges Through December 2008.

PHILADELPHIA -- After first graph, third bullet point should read: ...for the period of April 2007... (sted ...for the period of April 2006...)

The corrected release reads:

ATLAS PIPELINE PARTNERS, L.P. ANNOUNCES ADDITIONAL HEDGES THROUGH DECEMBER 2008

Atlas Pipeline Partners, L.P. (NYSE:APL) (the "Partnership") announces that Atlas America, Inc., an affiliate of the general partner of the Partnership, has entered into additional hedges on gas that it transports on the Partnership's Appalachian system. Those hedges, combined with prior hedges entered into by Atlas America and current unhedged positions result in:

--82% of the Partnership's Appalachian system transportation revenue for the period of November 2005 through March 2006, based on current throughput, hedged at an effective transportation rate of $1.49 per thousand cubic feet ("mcf") transported,

--74% of the Partnership's Appalachian system transportation revenue for the period of April 2006 through March 2007, based on current throughput, hedged at an effective transportation rate of $1.43 per mcf, and

--33% of the Partnership's Appalachian system transportation revenue for the period of April 2007 through December 2008, based on current throughput, hedged at an effective transportation rate of $1.38 per mcf.

In Appalachia, the Partnership is generally paid, pursuant to natural gas gathering agreements, 16% of the selling price of all gas it transports on behalf of Atlas America.

Atlas Pipeline Partners, L.P. is active in the transportation, gas gathering, and processing segments of the mid-stream natural gas industry. In the Mid-Continent region, APL owns and operates approximately 565 miles of FERC - regulated interstate pipeline and 1,765 miles of gas gathering pipeline. APL transports approximately 518 million cubic feet ("mmcf") of gas per day from approximately 1,160 receipt points and wells to interstate pipelines in Oklahoma, northeastern and central Arkansas, local distribution companies in Arkansas and Missouri, and to its gas processing and treating facilities in Velma, Elk City and Prentiss, Oklahoma where natural gas liquids (NGL) and impurities are removed. APL then sells the resulting residue gas and NGL and remits a portion of those proceeds to the producer. In Appalachia, APL owns and operates more than 1,500 miles of natural gas gathering pipelines in western Pennsylvania, western New York and eastern Ohio to which approximately 5,100 wells are currently connected. APL gathers approximately 57 mmcf of gas per day from these wells. In the Mid-Continent and in Appalachia the fees paid to APL are based on a percentage of the gross selling price of the gas or NGL, fixed fee per mcf transported or on percent of index. For more information, visit our website at www.atlaspipelinepartners.com or contact [e-mail]

Atlas America, Inc. (Nasdaq:ATLS), the parent company of Atlas Pipeline Partners, L.P.'s general partner, and owner of 1,641,026 units of limited partner interest of APL, is an energy company engaged primarily in the development and production of natural gas in the Appalachian Basin for its own account and for its investors through the offering of tax advantaged investment programs. For more information, please visit our website at www.atlasamerica.com, or contact investor relations at [e-mail].

Statements made in this release may include forward-looking statements, which involve substantial risks and uncertainties. The Partnership's actual results, performance or achievements could differ materially from those expressed or implied in this release as a result of many factors, including competition within the energy industry, climactic conditions, volatility in the price of gas in the Appalachian and mid-continent area, actual versus projected drilling activity, volumetric production from wells connected to the Partnership's gas-gathering pipeline system, and the cost of supplies and services in the energy industry and the other factors disclosed under "risk factors" in our most recent 10-K.