El Paso Corporation to Cooperate with SEC Investigation

El Paso has received a letter from the Securities and Exchange Commission (SEC) stating that the SEC is conducting a formal investigation of the company. The letter is accompanied by a subpoena requesting the production of documents related to the company's recently announced reserve revisions.

"We will cooperate fully with the SEC or any other government agency conducting an investigation," said Doug Foshee, president and chief executive officer of El Paso. "In February, we proactively initiated an independent review of our reserve revisions, and we expect to complete that review no later than the end of next month. We will work to put this matter behind us as soon as possible so that we can focus on achieving the goals of our long- range plan."

Information about El Paso's reserve revisions is available in recent public filings on the Security and Exchange Commission website and on the company's website.

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