HOUSTON, TEXAS, May 29, 2001—El Paso Merchant Energy, a subsidiary of El Paso Corporation (NYSE:EPG), announced today that Kevin S. Crutchfield will be the new president of Coastal Coal Company beginning June 1. Based in Roanoke, Virginia, Crutchfield will be responsible for all coal operations and will report to John B. Holmes, Jr., chief operating officer for El Paso Merchant Energy.

Crutchfield has extensive executive-level experience in the natural gas and coal industries, most recently serving as president of AMVEST Corporation and president and chief executive officer of AMVEST Minerals Corporation. He previously held the position of chairman, president and chief executive officer for Cyprus Australia Coal Company, as well as other executive positions with Pittston Coal Company.

Crutchfield obtained a Bachelor of Science degree in Mining and Minerals Engineering from Virginia Polytechnic Institute and State University, and he has completed the University of Virginia's Colgate Darden School of Business Executive Program.

El Paso Corporation, the largest and most broadly based natural gas company in the world, spans the energy value chain from wellhead to electron. With an enterprise value in excess of $50 billion, El Paso is a leader in every phase of the natural gas industry. The company owns and operates a significant portion of the North American natural gas delivery grid, operates the fastest growing, most sophisticated energy merchant group, and is the nation's third largest natural gas producer. El Paso, a leader in risk management techniques, is focused on maximizing shareholder value, transforming existing markets, and speeding the development of new markets. 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 actual results.