HOUSTON, Dec. 17 /PRNewswire-FirstCall/ -- El Paso Corporation (NYSE: EP) today announced that Joel Richards III has retired from his position as executive vice president, Administration. Mr. Richards, who joined the company in 1984, was responsible for a number of critical corporate operations including human resources; information technology; environmental, health, and safety; and materials and facilities management.

"Joel Richards played a crucial role in developing the highly-disciplined corporate culture that defines El Paso's workforce," said William A. Wise, chairman and chief executive officer of El Paso Corporation. "In particular, Joel's active participation in El Paso's merger activities was pivotal to the successful integration of a variety of distinct companies into a cohesive and organization. His hands-on approach to human resources ensured the smooth transition El Paso experienced during its rapid growth from a regional pipeline operator to a national and international natural gas service provider. Joel's consistent professionalism, genuine concern for employee welfare, and unwavering commitment to business integrity have set the tone for our entire organization from management to field employees. He will be greatly missed as both a colleague and a friend."

El Paso also announced that David E. Zerhusen, executive vice president of Administration, will assume Mr. Richards' responsibilities going forward. Previous to assuming his current position, Mr. Zerhusen served as senior vice president and deputy general counsel for El Paso, held various legal positions with Tenneco Inc. and its subsidiaries, and was a litigation partner with a Washington D.C. law firm.

El Paso Corporation is the leading provider of natural gas services and the largest pipeline company in North America. The company has leading positions in natural gas production, gathering and processing, and transmission, as well as liquefied natural gas transport and receiving, petroleum logistics, power generation, and merchant energy services. El Paso Corporation, rich in assets and fully integrated across the natural gas value chain, is committed to developing new supplies and technologies to deliver energy. For more information, visit www.elpaso.com .

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. El Paso Corporation has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including, without limitation, the successful completion of the plan to exit the energy trading business; the positive acceptance of the exit plan by the credit rating agencies; the accounting and financial consequences of the plan to exit the energy trading business; changes in commodity prices for oil, natural gas, and power; general economic and weather conditions in geographic regions or markets served by El Paso Corporation and its affiliates, or where operations of the company and its affiliates are located; the uncertainties associated with governmental regulation; the uncertainties associated with regulatory proceedings, appeals from regulatory proceedings, and any related litigation, including those related to the pending FERC proceeding; political and currency risks associated with international operations of the company and its affiliates; inability to realize anticipated synergies and cost savings associated with mergers and acquisitions or restructurings on a timely basis; difficulty in integration of the operations of previously acquired companies; competition; the successful implementation of the Balance Sheet Enhancement Program and the Strategic Repositioning Plan; and other factors described in the company's (and its affiliates') Securities and Exchange Commission filings. While the company makes these statements and projections in good faith, neither the company nor its management can guarantee that anticipated future results will be achieved. Reference should be made to those filings for additional important factors that may affect actual results. The company assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by the Company, whether as a result of new information, future events, or otherwise.

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SOURCE El Paso Corporation

-0- 12/17/2002

/CONTACT: communications and government affairs, Norma F. Dunn, Senior Vice President, +1-713-420-3750, or fax, +1-713-420-3632, or investor relations, Bruce L. Connery, Vice President, +1-713-420-5855, or fax, +1-713-420-4417, both of El Paso Corporation/

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