Atlas Pipeline Partners, L.P. Announces Completion of the Acquisition of Remaining 25% Interest in the NOARK Pipeline System.

PHILADELPHIA -- Atlas Pipeline Partners, L.P. (NYSE:APL) (the "Partnership") announces that it has completed the acquisition of a 25% interest in NOARK Pipeline System Limited Partnership ("NOARK"), previously owned by Southwestern Energy Company (NYSE:SWN), bringing the Partnership's interest in NOARK to 100%. NOARK's assets, which are included within the Partnership's Mid-Continent operations, include a FERC regulated interstate pipeline and an unregulated natural gas gathering system. Total consideration paid for the 25% minority stake was $65.5 million, net of approximately $3.5 million of working capital. The acquisition will be initially financed through the Partnership's credit facility. The Partnership expects the acquisition of the remaining 25% NOARK interest to be accretive to distributable cash flow in a range of $0.05 to $0.15 per limited partner unit over the next 12 months.

NOARK, through its 100% ownership of Ozark Gas Transmission, L.L.C. ("OGT"), operates 565 miles of FERC regulated interstate pipeline, extending from eastern Oklahoma through central and northeastern Arkansas and into Missouri. OGT has throughput capacity of approximately 322,000 dth/d. In addition, NOARK, through its 100% ownership of Ozark Gas Gathering, L.L.C. ("OGG"), operates 365 miles of unregulated gathering pipeline in Oklahoma and Arkansas. OGG provides access to natural gas basins through approximately 400 receipt points that are then transported through OGT.

Edward E. Cohen, Chairman and CEO of the general partner of the Partnership, stated "The completion of our purchase of the remaining interest in NOARK provides us with the additional benefit of operations that are core to our business. This transaction clearly demonstrates the commitment to our strategy to grow our business through a well-positioned and consistent asset base."

Atlas Pipeline Partners, L.P. is active in the transmission, gathering and processing segments of the midstream natural gas industry. In the Mid-Continent region of Oklahoma, Arkansas, northern Texas and the Texas panhandle, the Partnership owns and operates approximately 2,565 miles of intrastate gas gathering pipeline and a 565-mile interstate natural gas pipeline. The Partnership also operates two gas processing plants and a treating facility in Velma, Elk City and Prentiss, Oklahoma where natural gas liquids and impurities are removed. In Appalachia, it owns and operates approximately 1,500 miles of natural gas gathering pipelines in western Pennsylvania, western New York and eastern Ohio. For more information, visit our website at www.atlaspipelinepartners.com or contact [e-mail].

Atlas America, Inc. (NYSE:ATLS) is an energy company engaged primarily in the development, production and transportation of natural gas. In the Appalachian Basin, the company develops and produces natural gas for its own account and for its investors through the offering of tax advantaged investment programs. Atlas America also owns 100% of the general partner interest and an approximate 13% limited partner interest in Atlas Pipeline Partners. For more information, visit its website at www.atlasamerica.com or contact [e-mail].

Statements made in this release 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. NOARK and its subsidiaries are subject to the risks typically associated with natural gas pipelines, including risks associated with replacing natural gas production declines of wells currently connected to its pipelines with new wells, its ability to expand its pipelines, adverse climatic conditions, adverse changes in the price of natural gas and increased costs of supplies and services. The Partnership discusses these risks in its Annual Report on Form 10-K. In addition, NOARK and its subsidiaries are subject to additional risks including the possibility that production from wells connected to its pipelines will be less than projected, that natural gas transported through NOARK's pipelines from outside sources will be less than projected, that regulatory challenges to its pipeline transportation rates could be brought which could lead to reductions in rates or requirements to make reparation or refund payments, that new regulatory requirements relating to pipeline integrity or safety would require substantial capital or other expenditures, or that other regulatory policy changes could occur that would lead to increased costs or reduced transportation rates. The occurrence of any of the foregoing risks could reduce the Partnership's revenues, cash flows and ability to make distributions.