<SUBMISSION>
<ACCESSION-NUMBER>0000950134-09-004589
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20090305
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20090305
<DATE-OF-FILING-DATE-CHANGE>20090305
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>MARTIN MIDSTREAM PARTNERS LP
<CIK>0001176334
<ASSIGNED-SIC>5171
<IRS-NUMBER>050527861
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-50056
<FILM-NUMBER>09659878
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>4200 STONE ROAD
<CITY>KILGORE
<STATE>TX
<ZIP>75662
<PHONE>9039836200
</BUSINESS-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d66697e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<HEAD>
<TITLE>e8vk</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d)<BR>
of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of report (date of earliest event reported): March&nbsp;5, 2009</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>MARTIN MIDSTREAM PARTNERS L.P.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>DELAWARE</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-50056</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>05-0527861</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State of incorporation
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission file number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. employer identification number)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">or organization)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
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<TR valign="bottom">
    <TD align="center" valign="top"><B>4200 STONE ROAD</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>KILGORE, TEXAS</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>75662</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s telephone number, including area code: (903)&nbsp;983-6200</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(Former name or former address, if changed since last report)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (<I>see </I>General Instruction
A.2. below):
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

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<!-- link1 "Item&nbsp;7.01 Regulation&nbsp;FD Disclosure" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7.01 Regulation&nbsp;FD Disclosure.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March&nbsp;5, 2009, Martin Midstream Partners L.P. (the &#147;Partnership&#148;) held an investors&#146;
conference call. Furnished as Exhibit&nbsp;99.1 is a copy of the transcript of the Partnership&#146;s
presentation during that call and the questions and answers following the presentation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with General Instruction B.2 of Form 8-K, the information set forth in this Item
7.01 and in the attached Exhibit is deemed to be &#147;furnished&#148; and shall not be deemed to be &#147;filed&#148;
for purposes of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statements about the Partnership&#146;s outlook and all other statements contained in the Exhibit
other than historical facts are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements and all references to
financial estimates rely on a number of assumptions concerning future events and are subject to a
number of uncertainties and other factors, many of which are outside of the Partnership&#146;s control,
which could cause actual results to differ materially from such statements. While the Partnership
believes that the assumptions concerning future events are reasonable, it cautions that there are
inherent difficulties in anticipating or predicting certain important factors. A discussion of
these factors, including risks and uncertainties, is set forth in the Partnership&#146;s annual and
quarterly reports filed from time to time with the Securities and Exchange Commission. The
Partnership disclaims any intention or obligation to revise any forward-looking statements,
including financial estimates, whether as a result of new information, future events, or otherwise.
</DIV>
<!-- link1 "Item&nbsp;9.01. Financial Statements and Exhibits" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(d)&nbsp;</B><U><B>Exhibits</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with General Instruction B.2 of Form 8-K, the information set forth in the
attached Exhibit is deemed to be &#147;furnished&#148; and shall not be deemed to be &#147;filed&#148; for purposes of
the Exchange Act.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="89%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">EXHIBIT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">NUMBER</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">DESCRIPTION</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transcript of the Investors&#146; Conference Call.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">MARTIN MIDSTREAM PARTNERS L.P.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Martin Midstream GP LLC</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Its General Partner</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: March&nbsp;5, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Robert D. Bondurant</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Robert D. Bondurant,</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice President and <BR>

Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "INDEX TO EXHIBITS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>INDEX TO EXHIBITS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transcript of the Investors&#146; Conference Call.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>



</BODY>
</HTML>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d66697exv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Martin Midstream Partners L.P.<BR>
FY 2008 and Q4 2008 Earnings Conference Call<BR>
March&nbsp;5, 2009<BR>
8:00 a.m., Central Time</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>MANAGEMENT DISCUSSION SECTION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Operator</B></U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Greetings and welcome to the Martin Midstream Partners Fourth Quarter 2008 Year-End Earnings
Conference Call. At this time, all participants are in a listen-only mode. A brief
question-and-answer session will follow the formal presentation. &#091;Operators Instructions&#093;. And as a
reminder, this conference is being recorded.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is now my pleasure to introduce your host, Mr.&nbsp;Bob Bondurant, Chief Financial Officer for Martin
Midstream Partners. Thank you, Mr.&nbsp;Bondurant. You may begin.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Robert Bondurant &#151; Martin Midstream Partners &#151; CFO </B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you, Operator. And to let everyone know who is on the call today, we have Ruben Martin, Chief
Executive Officer and Director of the Company; Wes Martin, Vice President of Business Development;
and Joe McCreery, Vice President of Finance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Before we get started with my business comments, I need to make this disclaimer. Certain statements
made during this conference call maybe forward-looking statements relating to financial forecasts,
future performances and our ability to make distributions to unitholders. The words anticipate,
estimate, expect and similar expressions are intended to be among the statements that identify
forward-looking statements made during the call. We report our financial results in accordance with
Generally Accepted Accounting Principles &#091;GAAP&#093; and use certain non-GAAP financial measures within
the meanings of SEC Regulation&nbsp;G such as distributable cash flow and EBITDA. We use these measures
because we believe it provides users of our financial information with meaningful comparisons
between current results and prior reported results, and it can be a meaningful measure the
partnership&#146;s cash availability to pay distributions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Distributable cash flow should not be considered an alternative to cash flow from operating
activities. Furthermore, distributable cash flow is not a measure of financial performance or
liquidity under GAAP, and should not be considered in isolation as an indicator of our performance.
We also included in our press release issued yesterday, a reconciliation of distributable cash flow
to the most comparable GAAP financial measure. Both our earnings press release and our 2008 10-K
are available at our website, www.martinmidstream.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">And with that out of the way, I&#146;d like to comment on our fourth quarter performance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For the fourth quarter, we had net income of $16.7&nbsp;million or $1.08 per limited partner unit. In
the fourth quarter, because of certain commodity and interest-rate hedges, that did not qualify for
hedge accounting; our net earnings were positively impacted by $800,000 or $0.06 per limited
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">partner unit. So without this positive net non-cash impact to our financials, earnings would have
approximated $15.9&nbsp;million or $1.02 per limited partner unit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As with other MLPs, the most important measure of our performance is distributable cash flow. Our
distributable cash flow for the fourth quarter was $19&nbsp;million, a distribution coverage of 1.6
times. For the year our distributable cash flow was $59&nbsp;million. This distributable cash flow
provided a distribution coverage of 1.3 times for the year, the highest in our company&#146;s history.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We increased cash distributions paid in 2008 to $2.91 per limited partner unit, which
represents an approximate 12% increase when compared to 2007. However, due to the collapse of
financial markets and the corresponding lack of access to new
capital, we kept our cash
distribution flat at $0.75 per unit in the fourth quarter. This decision was based upon current economic
conditions and also for preservation of capital. Based upon our current $0.75 quarterly
distribution and yesterday&#146;s close price of $16.61, we are currently yielding 18.1%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Now, I&#146;d like to discuss our fourth quarter performance by segment, comparing net performance to
the third quarter. I would like to lead off with the discussion of our Sulfur Services segment as
it had an extraordinarily strong performance in the fourth quarter. In this segment, our cash flow
which is defined as operating income plus depreciation and amortization was $16.7&nbsp;million in the
fourth quarter, compared to $8.1&nbsp;million in the third quarter, a 106% increase. Although, our
volumes decreased 6%, our margins increased 81%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sulfur prices fell $467 per ton in the fourth quarter. The price decrease was positive for us due
to the contract structure with our largest sulfur customer. For a portion of any quarter, we bill
this customer the previous quarter sulfur price, which provides us improved margins when prices are
falling. Of course, when prices are rising which happened in the first three quarters of 2008, our
margins were negatively impacted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sulfur fell another $150 per ton in the first quarter of 2009, which is beneficial to this
contract. However, the volumes sold to this customer will be less than the fourth quarter. So,
forecasted cash flow for the first quarter will be significantly reduced when compared to the
fourth quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In our Terminalling and Storage segment, our cash flow was $6.7&nbsp;million in the fourth quarter,
compared to $5.2&nbsp;million in the third quarter. The third quarter was negatively impacted by a $1.5
million hurricane deductible charge. So, if that charge was added back in the third quarter, our
cash flow would have been $6.7&nbsp;million, meaning our fourth quarter was flat when compared to the
third quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For the first quarter of 2009, we have seen a slight decrease in fuel volumes running through our
shorebase terminals, probably cash flow from this segment will be slightly down in the first
quarter. This volume decrease is a result of some of our shorebase competitors coming back on line
after being down for Hurricane Ike. Also, there have been &#151; has been a slight decline in offshore
drilling activity working out of our shorebases.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In our Natural Gas Services segment, we had operating income of $1.2&nbsp;million in the fourth quarter,
compared to $4.7&nbsp;million in the third quarter. In the fourth quarter, we had a $3.4&nbsp;million
non-cash mark-to-market benefit, compared to a $6.6.million non-cash mark-to-market benefit in the
third quarter.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Complementing our natural gas services is our cash flow from our unconsolidated entities, which is
primarily our 50% owned Waskom Gas Processing plant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For the fourth quarter, our cash flow generated from these unconsolidated entities was $2.6
million, compared to $3.5&nbsp;million in the third quarter. So without the impact of the non-cash
mark-to-market benefits plus our distributions from our unconsolidated entities, our natural gas
services cash flow for the fourth quarter was $1.4&nbsp;million, compared to $2.6&nbsp;million in the third
quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Negatively impacting the natural gas services cash flow was the approximate 50% decline of NGL
pricing that occurred in the fourth quarter. This had a large negative impact to our wholesale
propane business.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Due to Generally Accepted Accounting Principles, we were forced to write-down inventory to the
lower of cost or market at year-end. This negatively impacted on fourth quarter by approximately
$2.7&nbsp;million. Fortunately, we have sales contracts with this inventory in the first quarter at much
higher prices than what we are carrying the propane inventory for. So, we should recover the
inventory write-down that occurred in the fourth quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Waskom&#146;s current contract mix is 45% percent of liquids, 39% fee-based, 16% percent of proceeds,
and less than 1% keep-whole. We currently have 47% of 2009 volumes hedged, 21% of 2010 volumes
hedged. We unwound our 2011 hedges which represented only 10% of that year&#146;s volume hedged, and
received a cash payment of $1.9&nbsp;million in the fourth quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For 2009, a $1 change in natural gas pricing affects our cash flow $50,000 per month and a $10
change in crude oil pricing changes our cash flow approximately $120,000 per month.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Looking forward to the first quarter, our plant inland buys will be similar to the fourth quarter.
Currently, we are processing 270&nbsp;million cubic feet per day at our Waskom plant. However,
processing volumes in January and February were down a bit, so we should average approximately 250
million cubic feet per day for the first quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Also in the first quarter, we expect our wholesale propane business to improve when compared to the
fourth quarter, due to deliveries of propane at higher values than our year-end inventory carrying
costs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Also regarding our competitive position in the East Texas gas processing market, we continued to be
the only gas plant in our market area that has full fractionation capability, giving us the
competitive advantage to other gas plants in the area.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In our Marine Transportation segment, we had operating cash flow of $4.9&nbsp;million in the fourth
quarter, compared to $5.7&nbsp;million in the third quarter. The decrease in cash flow was driven by a
fourth quarter increase in marine SG&#038;A cost. The increase was primarily driven by a bad debt charge
relating to a shipyard that was destroyed by Hurricane Ike and a subsequent bankruptcy filing by
that same shipyard.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We had advanced payments to that shipyard for tug construction, and because of the bankruptcy
filing we took a bad debt charge in the fourth quarter. Excluding this unusual charge, our marine
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">operating cash flow would have been $6.2&nbsp;million for the fourth quarter, a $500,000 increase over
the third quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Looking forward to the first quarter of 2009, our fleet remains highly utilized and other than
downtime surrounding scheduled coastguard mandated dry-dockings, we foresee continued high
utilization rates throughout 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Looking towards 2009, our internal forecast shows our cash flow contribution by segment to be
approximately the same or roughly 25% per segment between all four segments. We continued to
believe this diversity of cash flow is a unique strength in these challenging economic times, and
positively differentiates us from other single line of business master limited partnerships.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Now, I&#146;d like to discuss our liquidity and capital resources. At December&nbsp;31, 2008 we had $295
million drawn against our $325&nbsp;million credit facility. Our debt to total capitalization at the end
of the year was 56% and our bank facilities rolling 12&nbsp;months
leverage ratio, defined as total debt
to EBITDA, was 3.18 to 1. Based on that leverage ratio, our interest rate is LIBOR plus 200.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Of our total debt outstanding, we have fixed $235&nbsp;million of our bank facility through interest
rate hedges at an average interest rate of 4.44%. When added to the applicable margin of 200 basis
points, our hedge rate is 6.44%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our maintenance capital expenditures for the fourth quarter were $5.1&nbsp;million. Looking forward to
2009, we anticipate maintenance capital expenditures of approximately $9 to $11&nbsp;million. The 2009
maintenance capital expenditure plan is front-end loaded as approximately 70% of our maintenance
CapEx budget is forecasted to be spent in the first half of the year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We spent approximately $84&nbsp;million of growth CapEx this year. Looking forward to 2009 our growth
CapEx will be significantly reduced as we are only completing the existing projects that are in
process or are under contract and must be completed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A significant portion of these new assets are marine vessels that will come out of the shipyard in
August and September. We are in the process of evaluating leasing opportunities with financial
providers for these new marine vessels in order to preserve capital availability under our bank
facility. We have also made progress in our plans to sell certain
non-strategic assets. The sale of
these non-strategic assets will create additional liquidity for us and allow us to bridge the gap
to a better capital markets environment. We should have more clarity on these non-strategic asset
sales over the next two months.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This concludes my formal comments. Operator, please open the phone lines for questions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>QUESTION AND ANSWER SECTION</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Operator</B></U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you, sir. Ladies and gentlemen, at this time we&#146;ll be conducting a question-and-answer
session. &#091;Operator Instructions&#093;. Our first question comes from the line of Darren Horowitz with
Raymond James. Please proceed with your question.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Darren Horowitz with Raymond James</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Good morning, guys.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Robert Bondurant &#151; Martin Midstream Partners &#151; CFO </B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Good morning.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Darren Horowitz with Raymond James</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Bob, on the 2009 growth CapEx program, can you quantify exactly how much it&#146;s going to be reduced
year-over-year, and more specifically detail what projects have been cut?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Robert Bondurant &#151; Martin Midstream Partners &#151; CFO </B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Well, basically what&#146;s in our forecast roughly for 2009 is approximately $30&nbsp;million. However, the
leasing opportunities will allow us to be able to finance probably $25&nbsp;million of that. So, that
would not come in our bank facility and so that&#146;s kind of where it stands right now.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Darren Horowitz with Raymond James</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Okay. Switching gears over to the assets that you&#146;re looking to sell. I think last quarter on the
call you were talking about marketing 2 tugs and you hoped to achieve about $25&nbsp;million. Can you
give us a little bit more clarity on that? Are there anymore non-strategic assets that you&#146;re
considering selling at this point in time and can you give us a sense of where the market is for
those assets?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Robert Bondurant &#151; Martin Midstream Partners &#151; CFO </B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Yeah, there is &#151; in addition to the two tugs and two barges, actually, it&#146;s really two tows and
they are both offshore &#151; which are a continuing process, we should have clarity on one of those here in the next
30 to 60&nbsp;days, and the other one is kind of in the fourth quarter. There is also a non-strategic
terminal that we are in negotiations with the potential buyer. And we&#146;re very close to some
resolution on that and the cash generated on that would be approximately $24&nbsp;million.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Darren Horowitz with Raymond James</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Okay. And then just one big picture question for Ruben. When you&#146;re looking at the Cotton Valley,
what are you hearing from producers that are there, are rigs being laid down to the pace that we
hear rumblings throughout the channel or are you guys seeing something different?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Ruben Martin &#151; Martin Midstream Partners &#151; CEO</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">No, I think you&#146;ve seen a pretty good lay-down in the rigs. We&#146;ve got to be getting close to the
bottom of the lay-down. You&#146;re just seeing some of the new technology on the horizontal drilling
and everything is really taken up the slack on a lot of the Cotton Valley.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">And so, I don&#146;t know that you&#146;re seeing a big change in production. And I think that a lot of it is
just now working through the system as we&#146;ve seen with some of the major producers, here recently
that are saying that they are just not going to produce at some of these levels.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">So, I think we will continue to see some deterioration in the total gas supply coming out of the
area, but there are still a lot of plans for a lot of big pipes running in and out of this area.
And so &#151; and as Bob said, since we have a fractionator and everything at Waskom we&#146;re basically
last man standing in this area as far as processing economics go. So, we&#146;re not totally too
distraught concerning some of the things that are happening here through East Texas. But I&#146;ve seen
gas here at $0.80 before and people were drilling then. So, I think you will continue to see East
Texas is a very prolific area for production.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Darren Horowitz with Raymond James</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thanks guys. I appreciate it.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Operator</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you. Ladies and gentlemen, our next question comes from the line of Sean Wells with RBC
Capital Markets. Please proceed with your question.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Sean Wells with RBC Capital Markets</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Good morning, guys. Hey, in the last call I think you mentioned about a processing pullback in your
business footprint for the natural gas services. And I was wondering if you guys had seen any more
of that recently?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Ruben Martin &#151; Martin Midstream Partners &#151; CEO</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">When you say a processing pullback, what exactly do you mean?
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Sean Wells with RBC Capital Markets</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Well, I guess there were plans for various expansions in your &#151; around your business footprint.
And so I was wondering if you had seen any more of that recently?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Ruben Martin &#151; Martin Midstream Partners &#151; CEO</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Well, you couldn&#146;t see a whole lot more than what was already announced because pretty much every
new project in the area was pretty much cancelled. So, and I think it was around five plants that
were basically canceled throughout the year. So yeah, as far as all of the competitors in this area
that had plans and plans on the drawing board, they are pretty much all been canceled.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Sean Wells with RBC Capital Markets</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Okay. Moving over to sulfur services, I noticed back on the volumes for especially sulfur, they
were down this quarter noticeably. Can you &#151; I mean, I understand that the performance of the
segment was pushed up by margins, but why were the volumes so low?
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Ruben Martin &#151; Martin Midstream Partners &#151; CEO</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I guess a lot of the volumes, in those things a lot of our producers went totally to prilling their
sulfur for export to try to get it out of export because of the domestic consumers just didn&#146;t
exist. So, it probably lowered the volumes throughout our total system because a lot of these guys
went straight through the priller, which probably it doesn&#146;t show up in our volumes, our purchase
and resale of sulfur because we&#146;re just providing the service to do it. So, we&#146;re generating
revenue even though the volumes may be down because we&#146;re not buying and selling the sulfur.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">And a lot of it just has to do with looking for different homes because the consumers just were not
consuming. And so we had to cut back suppliers. Suppliers were trying to cut back, find
alternatives. It was a very difficult time. It&#146;s actually leveled back out at this point in time
and we should see those volumes maintain and get steady again. The consumption has actually come
back. And other than turnarounds in the refineries and so forth, production should be back to
normal levels here in the rest of the year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Sean Wells with RBC Capital Markets</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Okay. And one last question, and that has to do with maintenance capital expense for this quarter.
I think you guys were guiding around $3.5&nbsp;million. And it came out to be about $5.1&nbsp;million. I was
just wondering why it was a little bit steeper this quarter than expected.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Robert Bondurant &#151; Martin Midstream Partners &#151; CFO</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It was on the marine transportation side. And they just had &#151; bottom line they under-forecasted
what they thought some of their dry-docks we&#146;re going to cost and they cost little bit more than
what was anticipated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Fortunately for us we&#146;ve been on a two year really big spend on maintenance CapEx in the marine
business. That has basically almost been completed. For example of our $15&nbsp;million of maintenance
CapEx this year, roughly $10&nbsp;million of it was in marine and we are forecasting only $5&nbsp;million in
marine next year because we have done a massive, I guess, overhaul of the system and that is
basically completed now.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Joe
McCreery &#151; Martin Midstream Partners</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">With the addition of new vessels as well.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Robert Bondurant &#151; Martin Midstream Partners &#151; CFO</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Yeah.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Joe
McCreery &#151; Martin Midstream Partners</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Reduce the maintenance CapEx.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Robert Bondurant &#151; Martin Midstream Partners &#151; CFO</B></U>
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">That&#146;s correct, that&#146;s correct. These vessels come online will help that situation as well.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Sean Wells with RBC Capital Markets</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Okay. Thanks a lot. I appreciate the insight. Thanks.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Operator</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you. Ladies and gentlemen, our next question comes from the line of Jeff Morgan with
Wachovia. Please proceed with your question.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Jeff Morgan with Wachovia</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Yeah. Thanks good morning. Most of my questions had been answered already. But I had one quick
question. What are you guys seeing from a refinery utilization trends in your areas and does that have
any impact on your different businesses?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Ruben Martin &#151; Martin Midstream Partners &#151; CEO</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Well, the
refinery utilization in our area of course is mainly Gulf Coast. And there obviously we&#146;ve
seen refinery utilization at some historic lows, most of the tows that we have now are out on full
day charter. We get paid, whether they&#146;re moving or not. We have seen some of people trying to
sublet their tows and so forth through the area.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">But overall, the volumes even in refinery utilization as it comes down sometimes in the areas where
we deal which is the asphalt and some of the harder to handle products, you don&#146;t see a big
reduction in that overall amount of volume compared to the market. So we have not seen a big
turndown in our business due to refinery utilization. And hopefully, the refinery utilization is
getting close to bottom. I think it&#146;s around what, 84% or so. Low 80s. Which is historic lows and
we still seem to be fairly busy.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Jeff Morgan with Wachovia</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Okay great. That&#146;s all I had. Thanks.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Ruben Martin &#151; Martin Midstream Partners &#151; CEO</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Operator</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#091;Operator Instructions&#093;. Thank you. But we have no further questions at this time. I&#146;d like to turn
the floor back to management.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Ruben Martin &#151; Martin Midstream Partners &#151; CEO</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Okay. Thank you guys for calling in today. We&#146;re very proud of our fourth quarter with our
strongest quarter ever in these times and the distribution coverage was good in these very
difficult times.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I believe we really benefit from the diversity in our company. It has added something. I think
we&#146;ve been touting this diversity from the time that we went public in 2002. And I believe it&#146;s
finally coming around to where it really makes the difference as comparing us to the other MLPs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We&#146;ve got &#151; our managers have really been working hard to cut our capital expenditures, reduce our
cash &#151; to maintain our cash, to reduce our capital expenditures, and cut our growth capital
expenditures to a bare minimum to maintain this cash and a lot of discipline. We&#146;re working very
hard to keep this thing going. We&#146;ve got to some good flexibility going forward where we stand
right now. So we feel good about 2009 and hope to continue with these good quarters. And I
appreciate everybody&#146;s time calling in. And we&#146;ll see you next time. Thank you.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Operator</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ladies and gentlemen, this concludes today&#146;s teleconference. You may disconnect your lines at this
time. Thank you for your participation.
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