HOUSTON, May 27, 2003 /PRNewswire-FirstCall via COMTEX/ -- Cheyenne Plains Gas Pipeline Company, a subsidiary of El Paso Corporation (NYSE: EP), filed an application with the Federal Energy Regulatory Commission (FERC) seeking approvals to construct, own, and operate a new interstate natural gas pipeline. The Cheyenne Plains pipeline will transport natural gas from the Rockies to markets in the mid-continent.

"We are excited about the Cheyenne Plains pipeline and appreciate all the support our shippers have shown this project by contracting for capacity," said Patricia A. Shelton, president of the Western Pipeline Group for El Paso Corporation. "This new pipeline is supported by long-term firm contracts for 100 percent of its capacity. Cheyenne Plains will provide transportation for the growing supply of natural gas in the Rocky Mountain region to markets in the mid-continent of the United States where gas supplies are decreasing."

The 30-inch diameter pipeline will have initial transportation capacity of 560 thousand dekatherms of natural gas per day (MDth/d) and will extend 380 miles from the Cheyenne Hub just south of Cheyenne, Wyoming to Greensburg, Kansas. The pipeline, which could be expanded by approximately 500 MDth/d as supported by the market, will interconnect with interstate and intrastate pipelines serving mid-continent markets. Construction of the pipeline will begin following the receipt of appropriate FERC approvals. The pipeline is scheduled to be in service by mid-2005. For additional information, please visit www.elpaso.com/cheyenne or call toll free 1-877-598-5263.

El Paso Corporation is the leading provider of natural gas services and the largest pipeline company in North America. The company has core businesses in pipelines, production, and midstream services. Rich in assets, El Paso is committed to developing and delivering new energy supplies and to meeting the growing demand for new energy infrastructure. 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. The company 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, our ability to attract and retain qualified members of the Board of Directors; the successful recruitment and retention of a qualified CEO; the successful implementation of the 2003 operational and financial plan; the successful implementation of the settlement related to the Western Energy Crisis; material and adverse impacts from our proxy contest with Selim Zilkha/Oscar Wyatt; actions by the credit rating agencies; the successful close of financing transactions; our ability to successfully exit the energy trading business; our ability to divest of certain non-core assets; 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; political and currency risks associated with international operations of the company and its affiliates; inability to realize anticipated synergies and cost savings associated with restructurings and divestitures on a timely basis; difficulty in integration of the operations of previously acquired companies, competition, 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 must 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.

Additional Important Information

On May 12, 2003, El Paso Corporation began the process of mailing its definitive proxy statement, together with a WHITE proxy card. Shareholders are strongly advised to read El Paso's proxy statement as it contains important information.

Shareholders may obtain an additional copy of El Paso's definitive proxy statement and any other documents filed by El Paso with the Securities and Exchange Commission for free at the Internet Web site maintained by the Securities and Exchange Commission at www.sec.gov . Copies of the definitive proxy statement are available for free at El Paso's Internet Web site at www.elpaso.com or by writing to El Paso Corporation, Investor Relations, P.O. Box 2511, Houston, TX 77252. In addition, copies of El Paso's proxy materials may be requested by contacting El Paso's proxy solicitor, MacKenzie Partners, Inc. at (800) 322-2885 Toll-Free or by email at proxy@mackenziepartners.com .

Information regarding the names, affiliation and interests of individuals who may be deemed participants in the solicitation of proxies of El Paso's shareholders is contained in El Paso's definitive proxy statement.

SOURCE El Paso Corporation

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; or Joele Frank or Dan Katcher,
both of Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449, or fax,
+1-212-355-4554, for El Paso Corporation

http://www.sec.gov