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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES
EXCHANGE ACT OF 1934 (AMENDMENT NO. )
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Rule14a-6(e)(2))
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EL PASO CORPORATION
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(Name of Registrant as Specified in its Charter)
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NEWS
[EL PASO LOGO}
For Immediate Release
EL PASO'S NOMINEES RE-ELECTED TO BOARD OF DIRECTORS
HOUSTON, TEXAS, JUNE 17, 2003--El Paso Corporation (NYSE: EP) today
announced that preliminary results indicate its shareholders have voted to
elect the Board's twelve nominees standing for re-election to the Company's
Board of Directors at its Annual Meeting held today.
Ronald L. Kuehn, Jr., chairman and chief executive officer of El Paso,
said, "El Paso would like to thank all of its shareholders for voting on
this important issue and making their voices heard about the future of
their company.
"Today's outcome indicates that our shareholders recognize the steady
progress the company has made in accomplishing the objectives laid out in
our operational and financial plan. Our Board has demonstrated its
commitment to restoring the value inherent in this company's world-class
asset base and we look forward to their continued involvement.
"We would also like to thank our employees for their continued dedication
during this proxy contest and urge them to continue to focus on El Paso's
strengths.
"The efforts of both sides during this proxy contest are a testament to
each group's interest in and commitment to the future of El Paso."
Prior to the closing of the polls at the Annual Meeting, all proxy cards
received by El Paso were turned over to the independent inspectors of
election. The inspectors will prepare a preliminary vote count after which
both sides will have an opportunity to examine the tabulation. It is
expected that the final results should be certified shortly. El Paso will
publicly announce the results of the election once they are finalized. El
Paso Corporation is the leading provider of natural gas services and the
largest pipeline company in North America. The company has core businesses
in pipelines, production, and midstream services. Rich in assets, El Paso
is committed to developing and delivering new energy supplies and to
meeting the growing demand for new energy infrastructure. For more
information, visit www.elpaso.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
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This release includes forward-looking statements and projections, made in
reliance on the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. 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, our ability to attract and retain
qualified members of the Board of Directors; the successful recruitment and
retention of a qualified CEO; the successful implementation of the 2003
operational and financial plan; the successful implementation of the
settlement related to the Western Energy Crisis; material and adverse
impacts from our proxy contest with Selim Zilkha/Oscar Wyatt; actions by
the credit rating agencies; the successful close of financing transactions;
our ability to successfully exit the energy trading business; our ability
to divest of certain non-core assets; changes in commodity prices for oil,
natural gas, and power; general economic and weather conditions in
geographic regions or markets served by El Paso Corporation and its
affiliates, or where operations of the company and its affiliates are
located; the uncertainties associated with governmental regulation;
political and currency risks associated with international operations of
the company and its affiliates; inability to realize anticipated synergies
and cost savings associated with restructurings and divestitures on a
timely basis; difficulty in integration of the operations of previously
acquired companies, competition, 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.
ADDITIONAL IMPORTANT INFORMATION
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This document may contain expressions of opinion and belief. Except as
otherwise expressly attributed to another individual or entity, these
opinions and beliefs are the opinions and beliefs of El Paso.
CONTACTS
Communications and Government Affairs
Norma F. Dunn, Senior Vice President
Office: (713) 420-3750
Fax: (713) 420-3632
Investor Relations
Bruce L. Connery, Vice President
Office: (713) 420-5855
Fax: (713) 420-4417
Alternate Contacts
Joele Frank/Dan Katcher
Office: (212) 355-4449
Fax: (212) 355-4554