El Paso announces power and trading management changes

HOUSTON, Jan. 31, 2003 -- El Paso Corp. announced two changes to its executive management group effective February 1, 2003.

The company announced that Clark C. Smith, formerly president of Global Power, will become president of Trading. In his new capacity, Smith will oversee the implementation of El Paso's announced plan to exit the trading business. The key component of that plan, announced November 8, 2002, is the orderly liquidation of the company's trading portfolio.

El Paso also announced that Robert W. Baker, formerly senior vice president and deputy general counsel, will be promoted to president of Global Power, replacing Clark C. Smith in that position. In his new capacity, Baker will oversee the company's domestic and international power generation activities.

Both Smith and Baker will report to H. Brent Austin, president and chief operating officer of El Paso Corporation, responsible for El Paso's non- regulated businesses as well as the financial function of the company.

El Paso Corp. is the provider of natural gas services and the largest pipeline company in North America. The company has core businesses in production, pipelines, midstream services, and power. El Paso Corporation, rich in assets and fully integrated across the natural gas value chain, is committed to developing new supplies and technologies to deliver energy. For more information, visit www.elpaso.com .

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