Natural Resource Partners L.P.
Guidance
(dollars and tons in millions except per unit amounts)

	Full Year 2008 (Range)
Regional Statistics
Coal royalty production (tons)
Northern Appalachia		5.5			6.5
Central Appalachia		36.0			38.5
Southern Appalachia		3.8			4.3
Appalachia		45.3			49.3
Illinois Basin		7.3			8.3
Northern Powder River Basin		6.0			7.0
Total		58.6			64.6
Coal royalty revenues
Northern Appalachia	$	16.0		$	18.0
Central Appalachia		153.0			160.0
Southern Appalachia		17.0			18.0
Appalachia	$	186.0		$	196.0
Illinois Basin		19.5			21.0
Northern Powder River Basin		11.4			12.9
Total	$	216.9		$	229.9
Average coal royalty revenue per ton
Northern Appalachia	$	2.77		$	2.91
Central Appalachia	$	4.16		$	4.25
Southern Appalachia	$	4.19		$	4.47
Appalachia	$	3.98		$	4.11
Illinois Basin		2.53			2.67
Northern Powder River Basin		1.84			1.90
Total	$	3.56		$	3.70
Aggregates
Royalty revenues	$	6.0		$	7.0
Aggregate bonus royalty		2.5			3.0
Production (tons)		4.8			5.2
Average royalty revenue per ton	$	1.25		$	1.35
Revenues
Coal royalty revenues	$	216.9		$	229.9
Aggregate revenues	$	8.5		$	10.0
Override royalties	$	10.0		$	11.2
Oil and gas royallties	$	5.3		$	6.5
Coal processing fees	$	8.0		$	10.0
Coal transportation fees	$	11.0		$	13.0
Property taxes	$	9.5		$	11.0
Other revenues (1)		4.0			5.0
Total Revenues	$	273.2		$	296.6
Expenses
Depreciation, depletion and amortization	$	62.0		$	66.3
General and admistrative		21.0			23.0
Property, franchise and other taxes		14.0			15.5
Coal transportation expenses		1.3			1.5
Coal royalty and override payments		1.0			1.5
Total operating expenses	$	99.3		$	107.8
Interest expense (net)	$	26.0		$	28.0
Net Income	$	147.9		$	160.8
Net income per unit	$	1.70		$	1.85
Principal payments	$	17.2		$	17.2
Distributable cash flow (2)	$	192.7		$	209.9

(1) Other revenues consist of minimums recognized as revenue, wheelage, rentals and timber.

(2) Distributable cash flow represents net income plus depreciation, depletion and amortization minus scheduled and reserved for principal payments on NRP senior notes.  Distributable cash flow is a "non GAAP financial measure" that is presented because management believes it is a useful adjunct to net cash provided by operating activities under GAAP.  Distributable cash flow is a significant liquidity metric that is an indicator of NRP's ability to generate cash flows at a level that can sustain or support an increase in quarterly cash distributions paid to its partners.  Distributable cash flow is also the quantitative standard used throughout the investment community with respect to publicly-traded partnerships.  Distributable cash flow is not a measure of financial performance under GAAP and should not be considered as an alternative to cash flows from operating, investing or financing activities.  We believe that "net cash provided by operating activities" would be the most comparable financial measure to distributable cash.  However, due to the substantial uncertainties associated with forecasting future changes to operating assets and liabilities, we cannot provide guidance on forward-looking net cash provided by operating activities or provide reconciliations of distributable cash flow to that measure.