El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
El Paso Concludes FERC Testimony
HOUSTON, TEXAS, August 6, 2001—El Paso Corporation (NYSE:EPG)
announced today that it had concluded its testimony in the Federal Energy
Regulatory Commission (FERC) hearing related to market affiliate issues.
"The FERC already found that we have not violated the affiliate
rules," said Norma F. Dunn, senior vice president of Communications and
Government Affairs. "No new facts came out related to the issues in the
hearing. We intend to demonstrate in our brief that the Commission's original
decision on the issue of affiliate abuse was correct as a matter of law."
El Paso Corporation is committed to meeting energy needs throughout
North America and the world with operations that span the energy value chain
from wellhead to electron. The company is focused on speeding the development of
new energy sources to address critical energy shortages across the globe. Visit
El Paso at 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