HOUSTON, Nov. 19 /PRNewswire-FirstCall/ -- El Paso Corporation (NYSE: EP) announced today that it has priced an offering of approximately 8.8 million shares of common stock at a public offering price of $5.95 per share. The offering is expected to close on or about November 24, 2003.

The proceeds from the offering will total approximately $53 million and will be deposited for the benefit of the settling parties as part of our Western Energy Settlement obligations.

The joint book running managers for the offering were J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. Copies of the prospectuses relating to the offerings may be obtained from J.P. Morgan Securities Inc, Chase Distribution and Support Services, 1 Chase Manhattan Plaza, Floor 5B, New York, NY 10081, e-mail Addressing.Services@jpmchase.com or from Deutsche Bank Securities Inc., 60 Wall Street, Fourth Floor, New York, NY 10005.

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 .

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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, the successful implementation of the 2003 operational and financial plan; the successful implementation of the settlement related to the western energy crisis; 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; the uncertainties associated with the outcome of governmental investigations; the outcome of pending litigation, including shareholder derivative and class actions; 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.

SOURCE  El Paso Corporation
    -0-                             11/19/2003
    /CONTACT:  Bruce L. Connery, Vice President, Investor and Public
Relations, +1-713-420-5855, or fax, +1-713-420-4417, or Mel Scott, Director,
Media Relations, +1-713-420-3039, or fax, +1-713-420-6341, both of El Paso
Corporation/
    /Web site:  http://www.elpaso.com /
    (EP)

CO:  El Paso Corporation; J.P. Morgan Securities Inc.; Deutsche Bank
     Securities Inc.
ST:  Texas
IN:  OIL
SU:  OFR

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