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Oiltanking Partners Announces Pending Conversion of Subordinated Units

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Oiltanking Partners, L.P. (NYSE:OILT) (the “Partnership”) announced today that the board of directors of its general partner has confirmed that, upon payment of the Partnership’s third quarter 2014 distribution, the financial tests under the Partnership’s partnership agreement required for the conversion of all its outstanding subordinated units into common units will have been satisfied. Accordingly, the Partnership’s 38,899,802 subordinated units will be converted on a one-for-one basis into common units on the first business day following the payment of the Partnership’s third quarter 2014 distribution to unitholders. Upon conversion, the Partnership will have 83,128,494 common units outstanding.

The Partnership previously announced on October 17, 2014 the declaration of the quarterly cash distribution of $0.2725 per unit, or $1.09 per unit on an annualized basis, for the third quarter of 2014. The quarterly distribution will be paid on November 14, 2014 to unitholders of record as of the close of business on November 3, 2014.

Oiltanking Partners, L.P. is a growth-oriented master limited partnership engaged in independent storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas. We are the logistics provider of choice to major integrated oil companies, distributors, marketers and chemical and petrochemical companies. Our core assets are strategically located along the Gulf Coast of the United States on the Houston Ship Channel and in Beaumont, Texas. For more information, visit

Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements reflect Oiltanking Partners, L.P.’s current views with respect to future events, based on what it believes are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties as described in Oiltanking Partners, L.P.’s filings with the Securities and Exchange Commission, available at the SEC’s website at By issuing forward-looking statements based on current expectations, opinions, views or beliefs, Oiltanking Partners, L.P. has no obligation and, except as required by law, is not undertaking any obligation, to update or revise these statements or provide any other information relating to such statements.

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