HOUSTON, May 18 /PRNewswire-FirstCall/ -- El Paso Corporation (NYSE: EP) announced today that one of its subsidiaries has closed the sale of its remaining interests in the Itabo power facility in the Dominican Republic to AES Grand Itabo, Ltd., a subsidiary of The AES Corporation (NYSE: AES), for approximately $25 million. The sale includes El Paso's approximate 25-percent indirect interest in a 432 gross megawatt coal-fired power plant in Santo Domingo, Dominican Republic, and an approximate 50-percent indirect interest in New Caribbean Investment, which operates the Santo Domingo plant. This transaction supports the company's debt-reduction program.

El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. The company owns North America's largest natural gas pipeline system and one of North America's largest independent natural gas producers. For more information, visit http://www.elpaso.com .

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, our ability to implement and achieve our objectives in our 2006 Plan, including our ability to the achieve debt reduction targets; 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
05/18/2006

CONTACT: investor and public relations, Bruce L. Connery, Vice President, +1-713-420-5855, or fax, +1-713-420-4417, or media relations, Richard Wheatley, Manager, +1-713-420-6828, or fax, +1-713-420-6341, both of El Paso Corporation

2180 05/18/2006 18:00 EDT http://www.prnewswire.com