Apollo Global Management, LLC; Riverstone Holdings, LLC; and Access Industries to Acquire EP Energy

On Friday, February 24, 2012, El Paso Corporation announced that it had entered into a difinitive agreement to sell our exploration and production business, EP Energy, for approximately $7.15 billion to affiliates of Apollo Global Managememnt, LLC and Riverstone Holdings, LLC, who are joined by Access Industries, Inc. and other parties.

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E&P Overview

El Paso Exploration & Production Company is one of North America’s largest independent natural gas producers. We’re involved in the entire E&P value chain, from drilling to production. As a leading domestic independent, we have a significant reserve base, a strategic presence in fast-emerging unconventional resource areas, and a solid international footprint in Brazil and Egypt. We play a critical role in El Paso’s drive to become the top execution-focused company in energy.

Our Strategy:

• Emphasize repeatable programs with significant project inventory;
• Execute skillfully to improve cost efficiencies and maximize returns;
• Grow inventory in areas that fit our competencies; and,
• Foster a high-performance culture.

*Cautionary Statement Regarding Forward-looking Statements