HOUSTON, TEXAS, June 4, 2002—El Paso Corporation (NYSE:EP) today asked Reuters and other media outlets to correct errors in stories linking El Paso Corporation to an order issued today by the Federal Energy Regulatory Commission (FERC). The FERC order entitled Order to Show Cause Why Market-Based Rate Authority Should Not Be Revoked, Docket no. PA01-2-000, specifically refers to El Paso Electric Company and NOT El Paso Corporation. El Paso Corporation is not affiliated with El Paso Electric Company and never has been.

El Paso Corporation is North America's leading provider of natural gas services. The company has core businesses 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 to communities around the world. For more information, visit www.elpaso.com.

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. While the company makes these statements and projections in good faith, neither the company nor its management can guarantee that the anticipated future results will be achieved. Reference should be made to the company's (and its affiliates') Securities and Exchange Commission filings for additional important factors that may affect actual results.