EP EL Paso Corp. (Holding Co.)

El Paso Corporation (NYSE: EP) is providing an update on the effects of Hurricane Ike on its Gulf of Mexico and onshore production.

Gulf of Mexico/S. Louisiana

El Paso's net production in the Gulf of Mexico and S. Louisiana areas, which totaled 125 million cubic feet equivalent per day (MMcfe/d) before production was shut in for Hurricane Ike, currently totals 30 MMcfe/d. While most of the 27 operated-platforms received only minor damage, two structures in the Eugene Island area, that together produce approximately 15 MMcfe/d, were heavily damaged. Evaluations are ongoing to determine the costs of restoring the platforms to operations. Of the remaining approximately 80 MMcfe/d that is currently shut in, 55 MMcfe/d is dependent on the repair of the High Island Offshore System (HIOS) and 25 MMcfe/d is dependent on repairs to onshore facilities of the Stingray system. Volumes on Stingray are expected to be flowing again between late October 2008 and the end of November 2008. The operator of HIOS expects the system to return to service in mid-to-late November 2008.

Texas Gulf Coast

El Paso's production in the Texas Gulf Coast (TGC) Division is now back to pre-storm levels. At its peak, approximately 90 MMcfe/d of production was shut in due to the temporary outage of processing and fractionation plants and end-user markets in the Houston area that were off-line due to the loss of power following the hurricane. The TGC Division did not suffer any material damage to its production infrastructure.

Central Onshore

El Paso's production from the Arklatex area of the Central Onshore region had initial shut ins totaling as much as 20 MMcfe/d, principally due to constrained processing capacity. All production is now back to pre-storm levels.

Third Quarter Impact

In addition to the direct impact on existing production, Hurricane Ike and the preceding recent hurricanes and tropical storms have impacted ongoing drilling, completions, and facility activities across the company's domestic operations. El Paso expects that the impact will reduce third quarter production by approximately 40-45 MMcfe/d.

Regular updates for El Paso's pipelines are available on the company's Web site at http://www.elpaso.com/postings.

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

Cautionary Statement Regarding Forward-Looking Statements

This release includes certain forward-looking statements and projections. 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, the ultimate extent of the damages to our production facilities, the ability to repair any damage to such production facilities; the costs of effectuating such repairs and replacement facilities; the extent of damage to and the restoration of systems owned and operated by others, 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.

Contacts: Investor and Public Relations Bruce L. Connery Vice President Office: (713) 420-5855 Media Relations Richard Wheatley Manager Office: (713) 420-6828