ESPP Select

Introduction

Beginning July 1, 2005, El Paso Corporation (“ El Paso ”) will reactivate the El Paso Corporation Employee Stock Purchase Plan (the “Plan”). The Plan enables you to buy shares of El Paso common stock, par value $3.00 per share (“Common Stock”), at a discount. Under the Plan, you may elect to purchase shares of El Paso Common Stock at a 5% discount through convenient payroll deductions.

As a stockholder, you invest in the future of El Paso and share in El Paso 's growth through any increases in stock value and through any dividends. However, please keep in mind that fluctuations in the stock price caused by various factors may result in a decrease in value of El Paso Common Stock. You should consult your investment advisor to determine if an investment in El Paso Common Stock is appropriate for you. Stock ownership entitles you to all the benefits of any other stockholder (including the ability to vote at stockholder meetings).

This summary provides a question and answer overview of the Plan. Complete details are contained in the Plan document, which you may obtain upon request. See the question “Where can I obtain more information about El Paso?”