HOUSTON, Feb. 20 /PRNewswire-FirstCall/ -- ANR Pipeline Company, a subsidiary of El Paso Corporation (NYSE: EP), today announced the expiration and final results of ANR's tender offer to purchase all of its 8 7/8% Notes due 2010 (CUSIP No. 001814 AV4) and the related solicitation of consents to the proposed amendments to the indenture governing such notes.

The tender offer expired at 9:00 a.m., New York City time, on February 20, 2007. As of the expiration of the tender offer, approximately $269.2 million (or approximately 89.7%) of the $300.0 million total aggregate principal amount of outstanding notes had been validly tendered for purchase (and not validly withdrawn). ANR expects to accept all such notes for payment promptly after the expiration date.

Noteholders who provided consents to the proposed amendments and tendered their notes prior to the previously announced January 26 consent deadline are eligible to receive a consent payment of $20.00 per $1,000 principal amount of notes tendered and accepted for purchase pursuant to the offer. The total consideration to be paid per $1,000 principal amount of each validly tendered note accompanied by a properly delivered consent is $1,048.13, which includes the consent payment. Noteholders who tendered their notes after the January 26 consent deadline and prior to the expiration of the tender offer are eligible to receive only the purchase price of the notes, which is equal to the total consideration less the consent payment. ANR will pay the purchase price for notes validly tendered and accepted for purchase, as well as accrued and unpaid interest up to, but not including, the payment date. The total amount to be paid by ANR to noteholders in connection with the tender offer and consent solicitation is approximately $282.2 million, plus approximately $10.29 million in accrued and unpaid interest.

As a result of receiving consents from holders of a majority in aggregate principal amount of the notes, ANR and the indenture trustee have executed a supplemental indenture in respect of the proposed amendments to the indenture governing the notes, with such amendments to become operative upon the acceptance for payment of notes pursuant to the tender offer.

In connection with this tender offer and consent solicitation, ANR has retained Goldman, Sachs & Co. to serve as the dealer manager and solicitation agent, and Global Bondholder Services Corporation to act as information agent. Questions regarding the tender offer and consent solicitation may be directed to Goldman, Sachs & Co. at (800) 828-3182. Requests for documents may be directed to Global Bondholder Services Corporation at (866) 294-2200.

This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents with respect to any securities. The tender offer and consent solicitation were made solely by ANR's Offer to Purchase and Consent Solicitation Statement dated January 12, 2007 and the related Letter of Transmittal.

ANR is a Delaware corporation incorporated in 1945 and an indirect wholly owned subsidiary of El Paso Corporation. ANR's primary business consists of the interstate transportation, storage and gathering of natural gas. ANR conducts its business activities through its natural gas pipeline systems.

El Paso Corporation provides natural gas and related energy products in a safe, efficient, 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 .

SOURCE El Paso Corporation
02/20/2007

CONTACT: investor and public relations, Bruce L. Connery, Vice President, +1-713-420-5855, or fax, +1-713-420-4417, or media relations, Bill Baerg, Manager, +1-713-420-2906, or fax, +1-713-420-4417, both of El Paso Corporation

8032 02/20/2007 14:35 EST http://www.prnewswire.com