Atlas Pipeline Partners, L.P. Receives Additional Net Proceeds with Exercise of the Underwriter Over Allotment Option.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--May 23, 2003

Atlas Pipeline Partners L.P. (AMEX AMEX

See: American Stock Exchange :APL (A Programming Language) A high-level mathematical programming language noted for its brevity and matrix generation capabilities. Developed by Kenneth Iverson in the mid-1960s, it runs on micros to mainframes and is often used to develop mathematical models. ) announced today that Friedman, Billings, Ramsey & Co., Inc., McDonald Investments Inc. and Sanders Morris Harris Inc. have exercised the over-allotment option related to Atlas Pipeline Partner's offering of 950,000 of its common units that priced on May 6, 2003.

The over-allotment option covered 142,500 common units and generated an additional $3.3 million in net proceeds Net Proceeds

The amount received after all costs are deducted from the sale of a piece of property or security.

Notes:
In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). for APL. Atlas Pipeline Partners intends to use these proceeds, after paying expenses of the offering, to fund capital projects, to repay indebtedness and for working capital.

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 as a result of certain factors, including competition within the energy industry, climactic cli·mac·tic also cli·mac·ti·cal
adj.
Relating to or constituting a climax.

cli·macti·cal·ly adv.

Adj. 1. conditions and the price of gas in the Appalachian area, actual versus projected volumetric volumetric /vol·u·met·ric/ (vol?u-met´rik) pertaining to or accompanied by measurement in volumes.

vol·u·met·ric
adj.
Of or relating to measurement by volume. production from wells connected to the Partnership's gas-gathering pipeline system, and the cost of supplies and services in the energy industry.

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Publication:	Business Wire
Date:	May 23, 2003
Words:	180
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