HOUSTON, June 27, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- El Paso Exploration & Production Company (EPEP), a wholly owned subsidiary of El Paso Corporation (NYSE: EP), announced the expiration and final results of its previously announced cash tender offer to purchase any and all of its outstanding 7 3/4 percent Senior Notes due 2013 (CUSIP No. 283703AB2). The tender offer expired at 12 midnight, New York City time, on June 26, 2007. $1,199,094,000 in aggregate principal amount of notes were validly tendered and accepted for purchase in the tender offer. $1,196,828,000 in aggregate principal amount of such notes were purchased by EPEP on the initial settlement date, which was June 19, 2007. EPEP expects final settlement of the tender offer to occur today.

Citi and Deutsche Bank Securities Inc. served as dealer managers for the tender offer and Global Bondholders Services Corporation served as the depositary and information agent for the tender offer.

EPEP is a Delaware corporation incorporated in 1999 and a wholly owned subsidiary of El Paso Corporation. Its primary business is the exploration for and the acquisition, development, and production of natural gas, oil, and natural gas liquids in the United States, Brazil, and Egypt.

El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. El Paso Corporation owns North America's largest natural gas pipeline system and one of North America's largest independent natural gas producers. For more information, visit http://www.elpaso.com.

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are based on assumptions that EPEP believes to be reasonable. However, actual results almost always vary from assumed facts and the differences can be material, depending upon the circumstances. As a result, you should not place undue reliance on such forward-looking statements. The words "believe," "expect," "estimate," "anticipate" and similar expressions will generally identify forward-looking statements. All of EPEP's forward- looking statements, whether written or oral, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany such forward-looking statements. In addition, EPEP disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date of this release.

With this in mind, you should consider the risks discussed in the Offer to Purchase with the risks discussed under the caption "Risk Factors" in EPEP's Annual and Quarterly Reports on Forms 10-K and 10-Q and in the other documents EPEP files with the SEC from time to time, which could cause actual results to differ materially from those expressed in any forward-looking statement made by EPEP or on EPEP's behalf.

SOURCE El Paso Corporation

Investor and Public Relations, Bruce Connery, Vice President, +1-713-420-5855, fax, +1-713-420-4417, or Media Relations, Bill J. Baerg, Manager, +1-713-420-2906, fax, +1-713-420-4417, both of El Paso Corporation

http://www.elpaso.com