HOUSTON, TEXAS, January 31, 2001—El Paso Energy Corporation (NYSE:EPG) will provide a live Web cast of its annual analyst meeting being held in Houston, Texas on February 5 and 6, 2001. During the meeting, the company's senior management will provide a complete review of the company's businesses and growth opportunities following the merger with The Coastal Corporation, as well as introduce its telecommunications strategy to the investment community.

The meeting agenda, presentation slides and live audio for the February 5 discussions will be available on our Web site (www.epenergy.com/investor) when the meeting begins at 3:00 p.m. central standard time (CST). On February 6, the agenda, presentation slides and live audio for that day's discussions will be available on our Web site when the meeting begins at 8:00 a.m. CST. El Paso Energy will maintain the presentation slides and audio replay of the meeting on the Web site for a period of time following the event.

On both February 5 and 6, El Paso Energy will issue press releases at the beginning of the meeting detailing the key points to be presented during that day's discussions. If you have any questions regarding the meeting, please contact Bruce Connery at 713.420.5855.