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| January 18, 2011 |   | Analyst Contact: | Andrew Ziola     |
|------------------|--------|------------------|------------------|
|             |   |             | 918-588-7163     |
|             |   | Media Contact:   | Megan Washbourne |
|             |   |             | 918-588-7572     |

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| ·   | the effects of weather and other natural phenomena, including climate change, on our operations, demand for our services and energy prices; |
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| ·   | competition from other United States and foreign energy suppliers and transporters, as well as alternative forms of energy, including, but not limited to, solar power, wind power, geothermal energy and biofuels such as ethanol and biodiesel; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the capital intensive nature of our businesses; |
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| ·   | the profitability of assets or businesses acquired or constructed by us; |
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| ·   | our ability to make cost-saving changes in operations; |
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| ·   | risks of marketing, trading and hedging activities, including the risks of changes in energy prices or the financial condition of our counterparties; |
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| ·   | the uncertainty of estimates, including accruals and costs of environmental remediation; |
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| ·   | the timing and extent of changes in energy commodity prices; |
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| ·   | the effects of changes in governmental policies and regulatory actions, including changes with respect to income and other taxes, environmental compliance, climate change initiatives, authorized rates of recovery of gas and gas transportation costs; |
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| ·   | the impact on drilling and production by factors beyond our control, including the demand for natural gas and crude oil; producers’ desire and ability to obtain necessary permits; reserve performance; and capacity constraints on the pipelines that transport crude oil, natural gas and NGLs from producing areas and our facilities; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | difficulties or delays experienced by trucks or pipelines in delivering products to or from our terminals or pipelines; |
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| ·   | changes in demand for the use of natural gas because of market conditions caused by concerns about global warming; |
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| ·   | conflicts of interest between us, our general partner, ONEOK Partners GP, and related parties of ONEOK Partners GP; |
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| ·   | the impact of unforeseen changes in interest rates, equity markets, inflation rates, economic recession and other external factors over which we have no control; |
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| ·   | our indebtedness could make us vulnerable to general adverse economic and industry conditions, limit our ability to borrow additional funds and/or place us at competitive disadvantages compared with our competitors that have less debt or have other adverse consequences; |
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| ·   | actions by rating agencies concerning the credit ratings of us or the parent of our general partner; |
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| ·   | the results of administrative proceedings and litigation, regulatory actions, rule changes and receipt of expected clearances involving the Oklahoma Corporation Commission (OCC), Kansas Corporation Commission (KCC), Texas regulatory authorities or any other local, state or federal regulatory body, including the Federal Energy Regulatory Commission (FERC); and the Pipeline and Hazardous Materials Safety Administration (PHMSA); |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | our ability to access capital at competitive rates or on terms acceptable to us; |
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| ·   | risks associated with adequate supply to our gathering, processing, fractionation and pipeline facilities, including production declines that outpace new drilling; |
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| ·   | the risk that material weaknesses or significant deficiencies in our internal control over financial reporting could emerge or that minor problems could become significant; |
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| ·   | the impact and outcome of pending and future litigation; |
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| ·   | the ability to market pipeline capacity on favorable terms, including the effects of: |
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| -   | future demand for and prices of natural gas and NGLs; |
|---------------|-------------------------------------------------------|

| -   | competitive conditions in the overall energy market; |
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| -   | availability of supplies of Canadian and United States natural gas; and |
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| -   | availability of additional storage capacity; |
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| ·   | performance of contractual obligations by our customers, service providers, contractors and shippers; |
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| ·   | the timely receipt of approval by applicable governmental entities for construction and operation of our pipeline and other projects and required regulatory clearances; |
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| ·   | our ability to acquire all necessary permits, consents and other approvals in a timely manner, to promptly obtain all necessary materials and supplies required for construction, and to construct gathering, processing, storage, fractionation and transportation facilities without labor or contractor problems; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the mechanical integrity of facilities operated; |
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| ·   | demand for our services in the proximity of our facilities; |
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| ·   | our ability to control operating costs; |
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| ·   | acts of nature, sabotage, terrorism or other similar acts that cause damage to our facilities or our suppliers’ or shippers’ facilities; |
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| ·   | economic climate and growth in the geographic areas in which we do business; |
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| ·   | the risk of a prolonged slowdown in growth or decline in the U.S. economy or the risk of delay in growth recovery in the U.S. economy, including liquidity risks in U.S. credit markets; |
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| ·   | the impact of recently issued and future accounting updates and other changes in accounting policies; |
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| ·   | the possibility of future terrorist attacks or the possibility or occurrence of an outbreak of, or changes in, hostilities or changes in the political conditions in the Middle East and elsewhere; |
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| ·   | the risk of increased costs for insurance premiums, security or other items as a consequence of terrorist attacks; |
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| ·   | risks associated with pending or possible acquisitions and dispositions, including our ability to finance or integrate any such acquisitions and any regulatory delay or conditions imposed by regulatory bodies in connection with any such acquisitions and dispositions; |
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| ·   | the impact of unsold pipeline capacity being greater or less than expected; |
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| ·   | the ability to recover operating costs and amounts equivalent to income taxes, costs of property, plant and equipment and regulatory assets in our state and FERC-regulated rates; |
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| ·   | the composition and quality of the natural gas and NGLs we gather and process in our plants and transport on our pipelines; |
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| ·   | the efficiency of our plants in processing natural gas and extracting and fractionating NGLs; |
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| ·   | the impact of potential impairment charges; |
|--------------------|---------------------------------------------|

| ·   | the risk inherent in the use of information systems in our respective businesses, implementation of new software and hardware, and the impact on the timeliness of information for financial reporting; |
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| ·   | our ability to control construction costs and completion schedules of our pipelines and other projects; and |
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| ·   | the risk factors listed in the reports we have filed and may file with the Securities and Exchange Commission (SEC), which are incorporated by reference. |
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| ONEOK Partners, L.P. and Subsidiaries            |   |     |   |             |   | Exhibit A |   |
|--------------------------------------------------|--------|----------|--------|------------------|--------|-----------|--------|
| EARNINGS GUIDANCE*                               |   |     |   |             |   |      |   |
|                                             |   |     |   |             |   |      |   |
|                                             |   |     |   | 2010             |   |      |   |
|                                             |   | 2011     |   | Guidance         |   |      |   |
|                                             |   | Guidance |   | (Sept. 30, 2010) |   | Change    |   |
| (Millions of dollars)                            |   |     |   |             |   |      |   |
|                                             |   |     |   |             |   |      |   |
| Operating income                                 |   |     |   |             |   |      |   |
| Natural Gas Gathering and Processing             |   | $        | 182    |             | $      | 155       |   | $ | 27 |   |
| Natural Gas Pipelines                            |   |     | 148    |             |   | 165       |   |   | (17 | ) |
| Natural Gas Liquids                              |   |     | 326    |             |   | 267       |   |   | 59 |   |
| Other                                            |   |     | -      |             |   | (1        | )      |   | 1 |   |
| Operating income                                 |   |     | 656    |             |   | 586       |   |   | 70 |   |
| Equity earnings from investments                 |   |     | 106    |             |   | 101       |   |   | 5 |   |
| Other income (expense)                           |   |     | 17     |             |   | -         |   |   | 17 |   |
| Interest expense                                 |   |     | (213   | )                |   | (208      | )      |   | (5 | ) |
| Income before income taxes                       |   |     | 566    |             |   | 479       |   |   | 87 |   |
| Income taxes                                     |   |     | (16    | )                |   | (19       | )      |   | 3 |   |
| Net income attributable to ONEOK Partners, L.P.  |   | $        | 550    |             | $      | 460       |   | $ | 90 |   |
|                                             |   |     |   |             |   |      |   |   |   |   |
|                                             |   |     |   |             |   |      |   |   |   |   |
| Capital expenditures                             |   |     |   |             |   |      |   |   |   |   |
| Natural Gas Gathering and Processing             |   | $        | 544    |             | $      | 259       |   | $ | 285 |   |
| Natural Gas Pipelines                            |   |     | 40     |             |   | 27        |   |   | 13 |   |
| Natural Gas Liquids                              |   |     | 531    |             |   | 177       |   |   | 354 |   |
| Other                                            |   |     | 1      |             |   | 1         |   |   | - |   |
| Total capital expenditures                       |   | $        | 1,116  |             | $      | 464       |   | $ | 652 |   |
|                                             |   |     |   |             |   |      |   |   |   |   |
| Growth                                           |   | $        | 1,011  |             | $      | 394       |   | $ | 617 |   |
| Maintenance                                      |   |     | 105    |             |   | 70        |   |   | 35 |   |
| Total capital expenditures                       |   | $        | 1,116  |             | $      | 464       |   | $ | 652 |   |
|                                        |   |     |   |             |   |      |   |   |   |   |
| *Amounts shown are midpoints of ranges provided. |   |     |   |             |   |      |   |

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| ONEOK Partners, L.P. and Subsidiaries                              |     |   |             |   | Exhibit B |   |
|--------------------------------------------------------------------|----------|--------|------------------|--------|-----------|--------|
| EARNINGS GUIDANCE*                                                 |     |   |             |   |      |   |
|                                                               |     |   |             |   |      |   |
|                                                               |     |   | 2010             |   |      |   |
|                                                               | 2011     |   | Guidance         |   |      |   |
|                                                               | Guidance |   | (Sept. 30, 2010) |   | Change    |   |
| (Millions of dollars)                                              |     |   |             |   |      |   |
|                                                               |     |   |             |   |      |   |
| Reconciliation of Net Income to EBITDA and Distributable Cash Flow |     |
| Net income                                                         | $        | 550    |             | $      | 460       |   | $ | 90 |   |
| Interest expense                                                   |     | 213    |             |   | 208       |   |   | 5 |   |
| Depreciation and amortization                                      |     | 183    |             |   | 174       |   |   | 9 |   |
| Income taxes                                                       |     | 16     |             |   | 19        |   |   | (3 | ) |
| Allowance for equity funds used during construction, other         |     | (12    | )                |   | (1        | )      |   | (11 | ) |
| EBITDA                                                             | $        | 950    |             | $      | 860       |   | $ | 90 |   |
| Interest expense                                                   |     | (213   | )                |   | (208      | )      |   | (5 | ) |
| Maintenance capital                                                |     | (105   | )                |   | (70       | )      |   | (35 | ) |
| Equity earnings from investments                                   |     | (106   | )                |   | (101      | )      |   | (5 | ) |
| Distributions received from investments                            |     | 135    |             |   | 125       |   |   | 10 |   |
| Current income tax expense and other                               |     | (11    | )                |   | (10       | )      |   | (1 | ) |
| (Gain)/Loss on sale of assets                                      |     | -      |             |   | (16       | )      |   | 16 |   |
| Distributable cash flow                                            | $        | 650    |             | $      | 580       |   | $ | 70 |   |
|                                                          |     |   |             |   |      |   |   |   |   |
| *Amounts shown are midpoints of ranges provided.                   |     |   |             |   |      |   |   |