OVERLAND PARK, Kan., May 23 /PRNewswire-FirstCall/ -- Ferrellgas Partners, L.P. (NYSE: FGP) today declared a third quarter cash distribution of $0.50 per partnership common unit. The distribution is payable June 14, 2005, to common unitholders of record as of June 3, 2005.

The distribution covers the period from February 1, 2005 to April 30, 2005, the end of the partnership's third quarter of fiscal 2005. Ferrellgas' annualized distribution is currently $2.00 per common unit.

Ferrellgas Partners, L.P., through its operating partnership, Ferrellgas, L.P., currently serves more than one million customers in all 50 states, Puerto Rico, the U.S. Virgin Islands and Canada. Ferrellgas employees indirectly own approximately 18 million common units of the partnership through an employee stock ownership plan.

Contact:

Ryan VanWinkle, Investor Relations, 913-661-1528

Scott Brockelmeyer, Media Relations, 913-661-1830

SOURCE  Ferrellgas Partners, L.P.
    -0-                             05/23/2005
    /CONTACT:  Ryan VanWinkle, Investor Relations, +1-913-661-1528, or Scott
Brockelmeyer, Media Relations, +1-913-661-1830, both of Ferrellgas Partners,
L.P./
    /Web site:  http://www.ferrellgas.com/
    (FGP)

CO:  Ferrellgas Partners, L.P.
ST:  Missouri
IN:  OIL UTI
SU:  DIV

SH-CM
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5422 05/23/2005 11:29 EDT http://www.prnewswire.com