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|  January 19, 2012    |   |  Analyst Contact: |  Andrew Ziola |
|------------------------------------------|--------|------------------------|--------------------|
|                                     |   |                   |  918-588-7163 |
|                                     |   |  Media Contact:   |  Megan Lewis  |
|                                     |   |                   |  918-561-5325 |

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|   |  What:  |  ONEOK, Inc. and ONEOK Partners fourth-quarter and year-end 2011 earnings conference call and webcast |
|--------|--------------|------------------------------------------------------------------------------------------------------------|
|   |         |                                                                                                       |
|   |  When:  |  11 a.m. Eastern, Feb. 21, 2012                                                                       |
|   |         |  10 a.m. Central                                                                                      |
|   |         |                                                                                                       |
|   |  Where: |  1) Phone conference call dial 888-857-6931, pass code 7074825                                        |
|   |         |  2) Log on to the webcast at www.oneok.com                                                            |
|   |         |  3) Log on to the webcast at www.oneokpartners.com                                                    |

|   |  • First quarter 2012:   News release issued – May 1, 2012; conference call and webcast – May 2, 2012;     |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                        |
|   |  • Second quarter 2012:   News release issued – July 31, 2012; conference call and webcast – Aug. 1, 2012; |
|   |                                                                                                                                        |

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|   |  • Third quarter 2012:   News release issued – Oct. 30, 2012; conference call and webcast – Oct. 31, 2012.  |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                         |
|   |  • Fourth quarter 2012:   News release issued – Feb. 25, 2013; conference call and webcast – Feb. 26, 2013. |

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|    • | the effects of weather and other natural phenomena, including climate change, on our operations, including energy sales and demand for our services and energy prices;                                                                                   |
|----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    • | 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 status of deregulation of retail natural gas distribution;                                                                                                                                                                                           |
|    • | the capital intensive nature of our businesses;                                                                                                                                                                                                          |
|    • | the profitability of assets or businesses acquired or constructed by us;                                                                                                                                                                                 |
|    • | our ability to make cost-saving changes in operations;                                                                                                                                                                                                   |
|    • | risks of marketing, trading and hedging activities, including the risks of changes in energy prices or the financial condition of our counterparties;                                                                                                    |
|    • | the uncertainty of estimates, including accruals and costs of environmental remediation;                                                                                                                                                                 |
|    • | the timing and extent of changes in energy commodity prices;                                                                                                                                                                                             |
|    • | the effects of changes in governmental policies and regulatory actions, including changes with respect to income and other taxes, pipeline safety, environmental compliance, climate change initiatives and authorized rates of recovery of              |
|                 | natural gas and natural gas transportation costs;                                                                                                                                                                                                   |
|    • | 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;                                                                                                                                                                  |
|    • | changes in demand for the use of natural gas because of market conditions caused by concerns about global warming;                                                                                                                                       |
|    • | the impact of unforeseen changes in interest rates, equity markets, inflation rates, economic recession and other external factors over which we have no control, including the effect on pension and postretirement expense and funding resulting       |
|                 | from changes in stock and bond market returns;                                                                                                                                                                                                           |

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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;                                                                                                                                                                                                                                                                                                           |
|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    •        | actions by rating agencies concerning the credit ratings of ONEOK and ONEOK Partners;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|    •        | 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), the National Transportation Safety Board (NTSB), the Pipeline and Hazardous Materials Safety Administration (PHMSA), the Environmental Protection Agency (EPA) and the Commodity Futures Trading Commission (CFTC); |
|    •        | our ability to access capital at competitive rates or on terms acceptable to us;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|    •        | risks associated with adequate supply to our gathering, processing, fractionation and pipeline facilities, including production declines that outpace new drilling;                                                                                                                                                                                                                                                                                                                                                                                                                       |
|    •        | the risk that material weaknesses or significant deficiencies in our internal controls over financial reporting could emerge or that minor problems could become significant;                                                                                                                                                                                                                                                                                                                                                                                                             |
|    •        | the impact and outcome of pending and future litigation;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|    •        | the ability to market pipeline capacity on favorable terms, including the effects of:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                   | - future demand for and prices of natural gas and NGLs;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                   | - competitive conditions in the overall energy market;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                   | - availability of supplies of Canadian and United States natural gas; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                   | - availability of additional storage capacity;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|    •        | performance of contractual obligations by our customers, service providers, contractors and shippers;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|    •        | the timely receipt of approval by applicable governmental entities for construction and operation of our pipeline and other projects and required regulatory clearances;                                                                                                                                                                                                                                                                                                                                                                                                                  |
|    •        | our ability to acquire all necessary permits, consents or 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;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|    •   | demand for our services in the proximity of our facilities;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|    •        | our ability to control operating costs;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|    •        | adverse labor relations;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|    •        | acts of nature, sabotage, terrorism or other similar acts that cause damage to our facilities or our suppliers’ or shippers’ facilities;                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|    •        | economic climate and growth in the geographic areas in which we do business;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|    •        | the risk of a prolonged slowdown in growth or decline in the United States or international economies, including liquidity risks in United States or foreign credit markets;                                                                                                                                                                                                                                                                                                                                                                                                              |
|    •        | the impact of recently issued and future accounting updates and other changes in accounting policies;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|    •        | 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;                                                                                                                                                                                                                                                                                                                                                                                       |
|    •        | the risk of increased costs for insurance premiums, security or other items as a consequence of terrorist attacks;                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|    •   | 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;                                                                                                                                                                                                                                                                                                               |
|    •        | the possible loss of natural gas distribution franchises or other adverse effects caused by the actions of municipalities;                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|    •        | the impact of uncontracted capacity in our assets being greater or less than expected;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|    •        | 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;                                                                                                                                                                                                                                                                                                                                                                                                        |
|    •        | the composition and quality of the natural gas and NGLs we gather and process in our plants and transport on our pipelines;                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|    •        | the efficiency of our plants in processing natural gas and extracting and fractionating NGLs;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|    •        | 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;                                                                                                                                                                                                                                                                                                                                                                                   |
|    •        | our ability to control construction costs and completion schedules of our pipelines and other projects; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|    •        | 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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