PHOENIX, ARIZONA, October 9, 2001

Copper Eagle Gas Storage LLC (Copper Eagle), will conduct a non-binding open season to assess interest in a proposed high-deliverability natural gas storage facility to be located west of Phoenix in Maricopa County, Arizona.

Copper Eagle is a new entity formed by Crystal Gas Storage Inc., a subsidiary of El Paso Corporation (NYSE:EPG) and Pinnacle West Energy, the generation subsidiary of Pinnacle West Capital Corporation (NYSE:PNW).

This storage facility will have 3.2 billion cubic feet of working gas storage capacity with the capability of withdrawing the entire working gas volume in 10 days, and the capability of injecting the entire working gas volume in 20 days. The facility is anticipated to be available for service by fourth quarter 2004.

The non-binding open season begins at 9:00 a.m. central daylight time on October 9, 2001, and ends at 5:00 p.m. central daylight time on October 24, 2001. For more information regarding the proposed project, the terms of the open season, and to obtain Non-Binding Open Season Request Forms, please see www.CopperEagleGS.com or contact Russ Kovin at (832) 676-5659.

El Paso Corporation is committed to meeting energy needs throughout the United States and the world, with operations that span the energy value chain from wellhead to electron. El Paso Corporation is involved in every segment of the natural gas industry, including production, gathering and processing, and transmission. The company also provides merchant energy services, international project development, energy financing, power generation, and telecommunications services. El Paso is focused on speeding the development of new energy sources to address critical energy shortages across the globe. For more information, please visit www.elpaso.com.

Pinnacle West Capital Corporation is a Phoenix-based company with consolidated assets of approximately $7.5 billion. Through its subsidiaries, the company generates, sells and delivers electricity and sells energy-related products and services to retail and wholesale customers in the western United States. It also develops residential, commercial and industrial real estate projects.

Contacts

Pinnacle West Energy
Media Relations
Sheri Foote
Office: (602)250-3376
Fax: (602) 250-5555

Pinnacle West Energy
Investor Relations
Rebecca Hickman
Office: (602)250-5668
Fax: (602) 250-5555