HOUSTON, July 5 /PRNewswire-FirstCall/ -- El Paso Corporation (NYSE: EP) announced today that it has completed the previously announced sale of its interest in a power plant operated by the Fauji Kabirwala Power Co., Ltd. in Pakistan. In addition, El Paso has closed on the sale of its interest in a power plant operated by NEPC Consortium Power Ltd. in Bangladesh. Interests in both plants were acquired by a subsidiary of Globeleq Ltd. El Paso received approximately $38 million in exchange for its interest in both plants.

So far in 2006, El Paso has announced or closed approximately $1.4 billion of its targeted $1.2 billion of asset sales in support of 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 .

Editors Note: The Fauji Kabirwala Power Co., Ltd. plant is a combined- cycle, 157-megawatt, natural gas-fired power plant located in Kabirwala, Punjab Province, Pakistan. The NEPC Consortium Power Ltd. plant is a 113 MW natural gas-fired power plant located in Bangladesh.

SOURCE
El Paso Corporation

CONTACT:
Investor and Public Relations, Bruce L. Connery, Vice President, +1-713-420-5855, or fax, +1-713-420-4417, or Media Relations, Chris Jones, Manager, +1-713-420-4136, or fax, +1-713-420-4417, both of El Paso Corporation