LOS ANGELES--(BUSINESS WIRE)-- Rentech Nitrogen Partners, L.P. (RNF) announced today the declaration of a cash distribution of $1.06 per common unit for the period from the close of the Partnerships initial public offering, November 9, 2011, through March 31, 2012. The distribution is payable on May 15, 2012 to holders of record as of May 8, 2012. This is the first cash distribution declared by Rentech Nitrogen since it began trading on the New York Stock Exchange on November 4, 2011.

The amount of distributions announced today may not be indicative of the size of future distributions by the Partnership: the business of the Partnership is seasonal, and future cash distributions will reflect cash available for distribution generated in future quarters that occur in all seasons. Cash available for distribution covering the first quarter of 2012 was positively affected by favorable weather conditions that allowed farmers to apply anhydrous ammonia in the early spring. As a result, Rentech Nitrogen experienced higher than typical ammonia product deliveries during March, which shifted into the first quarter some revenue that had been anticipated to occur in the second quarter of 2012. The distribution also benefited from the inclusion of cash available for distribution from the period that began upon the close of the Partnerships initial public offering, November 9, 2011, and ended December 31, 2011. That period included fall product deliveries and excluded the negative impact of the plant turnaround, which took place in the first 15½ days of October, 2011.

Rentech Nitrogen believes that it is well positioned to exceed its forecast of cash available for distribution, $2.34 per common unit (excluding debt service, and as described in its prospectus dated November 3, 2011), for the twelve months ending September 30, 2012. The Partnership will provide details on its guidance during its previously announced conference call to discuss financial results for its 2012 first quarter, ended March 31, 2012.

The 2012 first quarter conference call will be held on Friday, May 11, 2012 at 10:00 a.m. PDT. Callers may listen to the live presentation, which will be followed by a question and answer segment, by dialing 800-736-7549 or 212-231-2905. An audio webcast of the call will be available at www.rentechnitrogen.com within the Investor Relations portion of the site under the Presentations section. A replay will be available by audio webcast and teleconference from 12:00 p.m. PDT on May 11 through 12:00 p.m. PDT on May 18. The replay teleconference will be available by dialing 800-633-8284 or 402-977-9140 and the reservation number 21586850.

This release is intended to serve as a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b). Please note that 100 percent of Rentech Nitrogen Partners' distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, Rentech Nitrogen Partners' distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.

Safe Harbor Statement

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 about matters such as: our forecasted cash available for distribution for the twelve months ended September 30, 2012 and related assumptions (please see pages 69-76 of the Rentech Nitrogen prospectus dated November 3, 2011 as filed pursuant to Rule 424(b)(4) with the Securities and Exchange Commission on November 7, 2011 for further details on the cash forecast and its underlying assumptions) and the outlook for our nitrogen fertilizer businesses in 2012. These statements are based on managements current expectations and actual results may differ materially as a result of various risks and uncertainties. Other factors that could cause actual results to differ from those reflected in the forward-looking statements are set forth in the Companys prior press releases and periodic public filings with the Securities and Exchange Commission, which are available via Rentech Nitrogens website at www.rentechnitrogen.com. The forward-looking statements in this press release are made as of the date of this press release and Rentech Nitrogen does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.

About Rentech Nitrogen Partners, L.P.

Rentech Nitrogen Partners, L.P. (www.rentechnitrogen.com) was formed by Rentech, Inc. to own, operate and expand its nitrogen fertilizer business. Rentech Nitrogens principal asset is a nitrogen fertilizer facility located in East Dubuque, Illinois. The facility is situated in the Mid Corn Belt in the northwestern corner of Illinois, adjacent to the Iowa and Wisconsin state lines, and produces primarily anhydrous ammonia and urea ammonium nitrate solution, using natural gas as its primary feedstock, for sale to customers in the Mid Corn Belt.

Rentech Nitrogen Partners, L.P.
Julie Dawoodjee
Vice President of Investor Relations and Communications
310-571-9800
ir@rnp.net

Source: Rentech Nitrogen Partners, L.P.

Copyright Business Wire 2012