El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. El Paso owns North America's largest interstate natural gas pipeline system and one of North America's largest independent natural gas producers. For more information, visit www.elpaso.com.

Cautionary Statement Regarding Forward-Looking Statements

This release includes certain forward-looking statements and projections. 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 changes in reserve estimates based upon internal and third party reserve analyses; our ability to meet production volume targets in our Exploration and Production segment; changes in commodity prices and basis differentials for oil, natural gas, and power; general economic and weather conditions in geographic regions or markets served by the company and its affiliates, or where operations of the company and its affiliates are located, including the risk of a global recession and negative impact on natural gas demand; the uncertainties associated with governmental regulation; political and currency risks associated with international operations of the company and its affiliates; 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.

Contacts:

Investor and Public Relations
Bruce L. Connery
Vice President
Office:  (713) 420-5855

Media Relations
Richard Wheatley
Office:  (713) 420-6828

SOURCE: El Paso Corporation

-------------------------------------------

El Paso Corporation (NYSE: EP) closed at $6.49 Wednesday, trading 12,157,000 shares.

Company News- November 19, 2008: El Paso Corporation to Present at Bank of America Credit Conference

John Hopper, vice president and treasurer of El Paso Corporation (NYSE: EP), will present tomorrow, November 20, at the Bank of America Credit Conference in Orlando, Florida. The presentation will begin at 4 p.m. EST, 3 p.m. CST.

About El Paso Corporation

El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. The company owns North America's largest interstate natural gas pipeline system and one of North America's largest independent natural gas producers. For more information, please visit www.elpaso.com.

-------------------------------------------

Quantum Corp. (NYSE: QTM) closed at $0.14 Wednesday, trading 736,200 shares.

Company News- November 19, 2008: Quantum Announces Streamlined Deduplication Solution for the Channel

Yesterday Quantum Corp. (NYSE: QTM), the leading global specialist in backup, recovery and archive, announced a new preconfigured Dxi appliance model optimized for small and medium enterprise environments, and a new configuration program designed to enable channel partners to size, order and install deduplication solutions even more effectively. Together, the DXi7500 Express disk backup system and QuikFit configuration program offer a streamlined path to deploying and managing deduplication in a wide range of distributed and midrange offerings.

To read the full news release, go to www.stockprofiler.us, and click the Headline link after entering the ticker symbol.

About Quantum

Quantum Corp. (NYSE: QTM) is the leading global storage company specializing in backup, recovery and archive. Combining focused expertise, customer-driven innovation, and platform independence, Quantum provides a comprehensive, integrated range of disk, tape, and software solutions supported by a world-class sales and service organization. This includes the DXi-Series, the first disk backup solutions to extend the power of data deduplication and replication across the distributed enterprise. As a long-standing and trusted partner, the company works closely with a broad network of resellers, OEMs and other suppliers to meet customers' evolving data protection needs. Quantum Corp., 1650 Technology Drive, Suite 800, San Jose, CA 95110, (408) 944-4000, www.quantum.com.

Quantum and the Quantum logo are registered trademarks of Quantum Corporation. DXi, DXi7500 Express and QuikFit are trademarks of Quantum Corporation. All other trademarks are the property of their respective owners.

-------------------------------------------

The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. TheWallStreetLeader.com is a division of Stock Profiler.US, LLC's News Division, which includes but is not limited to www.StockProfiler.us, www.AssociatesFortune.com, www.FinancialBusinessNews.us, www.FastMoneyTalk.com, www.MarketTelegraph.com, www.TheWallStreetLeader.com and www.DayTradersDigest.com. Stock Profiler.US, LLC has not been compensated for services rendered; Stock Profiler.US, LLC is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter.

Please consult a broker before purchasing or selling any securities mentioned herein. To view full disclaimers and terms of use, go to www.stockprofiler.us.

Keywords: Small Cap Investments, Investor Relations, I/R Services, Investment Tools, Stock Profiles, Stock Market Quotes News, Media Coverage, United States, North America, Massachusetts

INDUSTRY KEYWORD: Energy, Alternative Energy, Coal, Oil/Gas, Utilities, Natural Resources, Other Natural Resources, Professional Services, Consulting

CONTACT: Thewallstreetleader.com Tel: +1 603 424 4420 e-mail: info@ stockprofiler.us WWW: http://www.thewallstreetleader.com

M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.

Contacts:

Investor and Media Relations
Bruce L. Connery
Vice President
Office:  713-420-5855

Media Relations
Bill Baerg
Manager
Office:  713-420-2906

SOURCE: El Paso Corporation

--  $0.58 earnings per diluted share from continuing operations versus
    $0.20 in 2007
--  $0.35 earnings per diluted share, after adjusting for production-
    related derivatives and other items impacting third quarter 2008 results,
    versus $0.22 in 2007
--  Pipeline earnings before interest expense and taxes (EBIT) of $278
    million, which includes a $12 million negative impact from Hurricanes Ike
    and Gustav
--  Exploration & Production (E&P) EBIT of $532 million -- up 129 percent
    versus third quarter 2007, including $214 million of mark-to-market (MTM)
    gains on derivative contracts not designated as accounting hedges
--  Production, including unconsolidated affiliate volumes, totaled 793
    million cubic feet equivalent per day (MMcfe/d), which reflects a
    production loss of 41 MMcfe/d due to hurricanes and a tropical storm

"We had another solid quarter, with improved earnings in both the Pipeline Group and E&P," said Doug Foshee, president and chief executive officer of El Paso Corporation. "In addition, we placed three pipeline projects in-service, and we made continued progress on the Ruby Pipeline Project. On the E&P side, we completed our first two wells in the Haynesville Shale. As we announced, we have taken steps to maintain our already strong liquidity position as we enter 2009 so that we can execute on our pipeline backlog and meet our financial obligations, even if current capital market constraints persist."

A summary of financial results for the quarters ended September 30, 2008, and 2007 is as follows:

Financial Results                                        Quarters Ended
                                                          September 30,
($ in millions, except per share amounts)                2008      2007
                                                       --------  --------
Net income                                             $    445  $    155
Preferred stock dividends                                     9         9
                                                       --------  --------
Net income available to common stockholders            $    436  $    146
                                                       ========  ========
Basic earnings per common share                        $   0.63  $   0.21
                                                       ========  ========
Diluted earnings per common share                      $   0.58  $   0.20
                                                       ========  ========

Items Impacting Quarterly Results

Third quarter 2008 and 2007 net income includes the following items:

Third Quarter 2008
($ millions, except per share                    Before    After   Diluted
 amounts)                                          Tax      Tax      EPS
                                                 -------  -------  -------
Net income available to common stockholders               $   436  $  0.58
Adjustments(1)
   Change in fair value of power contracts       $   (63) $   (40) $ (0.05)
   Change in fair value of legacy
    indemnification                                   12        8     0.01
   Change in fair value of production-related
    derivatives in Marketing                         (14)      (9)   (0.01)
   MTM impact of E&P derivatives(2)                 (215)    (138)   (0.18)
                                                                   -------
       Adjusted EPS--continuing operations(3)                      $  0.35
                                                                   =======
(1) Assumes a 36 percent tax rate and 766 million diluted shares
(2) Consists of $214 million of MTM gains on derivatives, adjusted for $1
    million of realized losses from cash settlements
(3) Based upon 766 million fully diluted shares and includes income impact
    from dilutive securities
Third Quarter 2007
($ millions, except per share                      Before  After   Diluted
 amounts)                                            Tax    Tax      EPS
                                                   ------  ------  -------
Net income available to common stockholders                $  146  $  0.20
Adjustments(1)
   Brazilian power impairments                     $   65  $   65  $  0.09
   Crude oil trading liability                        (77)    (49)   (0.07)
   Case Corporation indemnification                    11       7     0.01
   Change in fair value of production-related
    derivatives in Marketing                          (15)    (10)   (0.01)
                                                                   -------
       Adjusted EPS--continuing operations(2)                      $  0.22
                                                                   =======
(1) Assumes a 36 percent tax rate, except for Brazilian power impairments,
    and 759 million diluted shares
(2) Based upon 759 million diluted shares and includes the income impact
    from dilutive securities

Financial Results - Nine Months Ended September 30, 2008

For the nine months ended September 30, 2008, El Paso reported net income available to common stockholders of $827 million, or $1.12 per diluted share, compared with $922 million, or $1.31 per diluted share, for the first nine months of 2007, which includes a $674 million, or $0.96 per share, gain on the sale of ANR and related assets. Earnings for the nine-month periods of 2008 and 2007, after adjusting for the impacts of production-related derivatives and other items, are $1.09 and $0.69 per diluted share, respectively. A schedule of items affecting year-to-date results is listed as an appendix to the release.

Business Unit Financial Update

Segment EBIT Results                                     Quarters Ended
                                                          September 30,
($ in millions)                                          2008       2007
                                                       --------   --------
Pipeline Group                                         $    278   $    275
Exploration and Production                                  532        232
Marketing                                                    82         (8)
Power                                                        (6)       (67)
Corporate and Other                                          (5)        51
                                                       --------   --------
                                                       $    881   $    483
                                                       ========   ========

Pipeline Group

The Pipeline Group's EBIT for the quarter ended September 30, 2008 was $278 million, compared with $275 million for the same quarter in 2007. EBIT before minority interest associated with El Paso Pipeline Partners, L. P. (NYSE: EPB), which completed its initial public offering in November 2007, was $285 million, a 4 percent increase from 2007 levels. In the third quarter of 2008, EBIT includes a $12 million unfavorable impact related to lost natural gas and higher operations and maintenance costs due to facility damage caused by Hurricanes Ike and Gustav. The company continues to assess the damages resulting from the hurricanes and the corresponding impact on estimated costs to repair and abandon impacted facilities. El Paso anticipates additional costs to occur in the fourth quarter and into 2009. During the third quarter of 2008, EBIT was favorably impacted by higher reservation revenues due to additional capacity sold on the pipeline systems and several expansion projects that went into service in 2007 and 2008. Offsetting the favorable impact were higher operating costs, primarily due to increased labor costs to support growth and customer activities, as well as additional maintenance work required on several of the pipeline systems.

Pipeline Group Results                                   Quarters Ended
                                                          September 30,
($ in millions)                                          2008      2007
                                                       --------   --------
EBIT before minority interest                          $    285   $    275
Minority interest                                            (7)         -
                                                       --------   --------
EBIT                                                   $    278   $    275
DD&A                                                   $     97   $     94
Total throughput (BBtu/d)(1)                             18,905     18,512
(1) Includes proportionate share of jointly owned
    pipelines

Exploration and Production

The Exploration and Production segment's EBIT for the quarter ended September 30, 2008, was $532 million, compared with $232 million for the same period in 2007. The increase was primarily due to higher realized commodity prices, and $214 million of net MTM gains in 2008, versus $6 million in 2007, on derivative contracts not designated as accounting hedges, partially offset by lower production volumes and higher production taxes.

Third quarter 2008 production volumes averaged 793 MMcfe/d, including 75 MMcfe/d of unconsolidated affiliate production volumes. Third quarter 2007 production volumes averaged 848 MMcfe/d, including 61 MMcfe/d of unconsolidated affiliate production volumes and 117 MMcfe/d related to properties that were divested in the first quarter of 2008. Production volumes during the third quarter of 2008 were negatively impacted by Hurricanes Ike, Gustav, and Dolly, and Tropical Storm Edouard by approximately 41 MMcfe/d. Approximately 80 MMcfe/d of production in the Gulf of Mexico remains shut-in due to repairs to certain systems owned and operated by third parties. The operators currently estimate these systems will be repaired and back in-service by mid-December 2008. In addition, two platforms that produced a total of 15 MMcfe/d remain shut-in pending damage assessments.

Total per-unit cash operating costs increased to an average of $1.89 per thousand cubic feet equivalent (Mcfe) in third quarter 2008 from $1.77 per Mcfe for the same 2007 period. The increase is primarily a result of lower production volumes and higher production taxes, which rise with commodity prices, partially offset by a decrease in G&A expenses, which were lower due primarily to the reversal of an accrual as a result of a favorable ruling on a legal matter.

Exploration and Production Results                       Quarters Ended
                                                          September 30,
($ in millions, except prices and unit cost amounts)     2008       2007
                                                       --------   --------
Natural gas, oil, condensate and NGL revenue           $    644   $    560
Changes in fair value of derivative contracts(1)            214          6
Other revenues                                               23          9
                                                       --------   --------
   Total operating revenues                            $    881   $    575
Operating expenses                                         (353)      (347)
Other income                                                  4          4
                                                       --------   --------
EBIT                                                   $    532   $    232
DD&A                                                   $    191   $    194
Consolidated volumes:
   Natural gas sales volumes (MMcf/d)                       615        660
   Oil, condensate, and NGL sales volumes (MBbls/d)          17         21
Total consolidated equivalent sales volumes (MMcfe/d)       718        787
Four Star total equivalent sales volumes (MMcfe/d)(2)        75         61
Weighted average realized prices including hedges(3)
   Natural gas ($/Mcf)                                 $   8.92   $   7.12
   Oil, condensate, and NGL ($/Bbl)                    $  88.17   $  66.26
Transportation costs(3)
   Natural gas ($/Mcf)                                 $   0.37   $   0.29
   Oil, condensate, and NGL ($/Bbl)                    $   1.18   $   0.84
Per-unit costs ($/Mcfe)(3)
   DD&A                                                $   2.89   $   2.69
   Cash operating costs(4)                             $   1.89   $   1.77
(1) Represents the income effect of contracts not designated as accounting
    hedges
(2) Four Star is an equity investment; Amounts disclosed represent the
    company's proportionate share
(3) Does not include proportionate share of Four Star
(4) Includes direct lifting costs, production taxes, G&A expenses, and
    taxes other than production and income

Hedge Positions

For the fourth quarter of 2008, El Paso has 42 trillion British thermal units (TBtu) of natural gas production hedged, with an average floor price of $7.93 per million British thermal unit (MMBtu) and an average ceiling price of $10.16 per MMBtu. In addition, El Paso has 0.8 million barrels of fourth quarter 2008 crude oil production hedged with an average floor price of $79.81 per barrel and an average ceiling price of $80.10 per barrel. For 2009, El Paso has natural gas hedges with an average floor price of $9.02 per MMBtu on 176 TBtu and an average ceiling price of $14.97 per MMBtu on 151 TBtu. El Paso also has oil hedges for 2009 on 3.4 million barrels of crude oil at an average fixed price of $109.93 per barrel. Further information on the company's hedging activities will be available in El Paso's Form 10-Q.

Other Operations

Marketing

The Marketing segment reported EBIT of $82 million for the quarter ended September 30, 2008, compared with an EBIT loss of $8 million for the same period in 2007. The third quarter 2008 EBIT included a $63 million MTM gain on the company's power obligations that extend through 2016 in the Pennsylvania-New Jersey-Maryland (PJM) power market, a $17 million gain from proceeds recognized on various Enron bankruptcy claims, and a $14 million MTM gain in the fair value of derivatives intended to manage the price risk of the company's oil production. In the third quarter of 2007, the company realized a MTM gain of $15 million on its production-related derivatives, a $9 million loss from transport obligations on Alliance Pipeline, and a MTM loss of $11 million on its PJM power contracts.

Power

The Power segment reported an EBIT loss of $6 million for the quarter ended September 30, 2008, compared with an EBIT loss of $67 million for the same period in 2007. The 2007 period included impairments related to the company's interest in its Brazilian power assets.

Corporate and Other

Corporate and Other reported an EBIT loss of $5 million for the quarter ended September 30, 2008, compared with EBIT of $51 million for the same period in 2007. The 2007 results were favorably impacted by the reversal of a $77 million liability related to Coastal Corporation's legacy crude oil marketing and trading business.

Detailed operating statistics for each of El Paso's businesses will be posted at www.elpaso.com in the Investors section.

Webcast Information

El Paso Corporation has scheduled a live webcast of its third quarter 2008 results on November 6, 2008, beginning at 10:00 a.m. Eastern Time, 9:00 a.m. Central Time, which may be accessed online through El Paso's Web site at www.elpaso.com in the Investors section. During the webcast, management will refer to slides that will be posted on the Web site. The slides will be available one hour before the webcast and can be accessed in the Investors section. A limited number of telephone lines will also be available to participants by dialing (888) 710-3574 (conference ID # 59581981) ten minutes prior to the start of the webcast.

A replay of the webcast will be available online through the company's Web site in the Investors section. A telephone audio replay will be also available through November 13, 2008 by dialing (800) 642-1687 (conference ID # 59581981). If you have any questions regarding the dial-in procedures, please contact Margie Fox at (713) 420-2903.

Disclosure of Non-GAAP Financial Measures

The SEC's Regulation G applies to any public disclosure or release of material information that includes a non-GAAP financial measure. In the event of such a disclosure or release, Regulation G requires (i) the presentation of the most directly comparable financial measure calculated and presented in accordance with GAAP and (ii) a reconciliation of the differences between the non-GAAP financial measure presented and the most directly comparable financial measure calculated and presented in accordance with GAAP. The required presentations and reconciliations are attached. Additional detail regarding non-GAAP financial measures can be reviewed in El Paso's full operating statistics, which will be posted at www.elpaso.com in the Investors section.

El Paso uses the non-GAAP financial measure "earnings before interest expense and income taxes" or "EBIT" to assess the operating results and effectiveness of the company and its business segments. The company defines EBIT as net income (loss) adjusted for (i) items that do not impact its income (loss) from continuing operations, such as extraordinary items and discontinued operations; (ii) income taxes; and (iii) interest and debt expense. The company excludes interest and debt expense so that investors may evaluate the company's operating results without regard to its financing methods or capital structure. El Paso's business operations consist of both consolidated businesses as well as investments in unconsolidated affiliates. As a result, the company believes that EBIT, which includes the results of both these consolidated and unconsolidated operations, is useful to its investors because it allows them to evaluate more effectively the performance of all of El Paso's businesses and investments. Exploration and Production per-unit total cash costs or cash operating costs equal total operating expenses less DD&A, transportation costs, ceiling test charges, and cost of products and services divided by total production. It is a valuable measure of operating efficiency. For 2008, Adjusted EPS is earnings per share from continuing operations excluding the gain or loss related to the change in fair value of an indemnification from the sale of an ammonia plant in 2005, the gain related to an adjustment of the liability for indemnification of medical benefits for retirees of the Case Corporation, the gain related to the disposition of a portion of the company's investment in its telecommunications business, changes in fair value of power contracts, changes in fair value of the production-related derivatives in Marketing, impact of mark-to-market E&P derivatives, and other legacy litigation adjustments. For 2007, Adjusted EPS is earnings per share from continuing operations excluding changes in fair value of production-related derivatives in Marketing, the loss related to Brazilian power impairments, the gain related to the crude oil trading liability, the loss related to an adjustment of the liability for indemnification of medical benefits for retirees of the Case Corporation, debt repurchase costs, and the effect of the change in the number of diluted shares. Adjusted EPS is useful in analyzing the company's on-going earnings potential.

El Paso believes that the non-GAAP financial measures described above are also useful to investors because these measurements are used by many companies in the industry as a measurement of operating and financial performance and are commonly employed by financial analysts and others to evaluate the operating and financial performance of the company and its business segments and to compare the operating and financial performance of the company and its business segments with the performance of other companies within the industry.

These non-GAAP financial measures may not be comparable to similarly titled measurements used by other companies and should not be used as a substitute for net income, earnings per share or other GAAP operating measurements.

El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. El Paso owns North America's largest interstate natural gas pipeline system and one of North America's largest independent natural gas producers. For more information, visit www.elpaso.com.

Cautionary Statement Regarding Forward-Looking Statements

This release includes certain forward-looking statements and projections. 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, changes in unaudited and/or unreviewed financial information; our ability to meet our 2009 debt maturities; volatility in, and access to, the capital markets; our ability to implement and achieve our objectives in our 2008 plan, including achieving our earnings and cash flow targets; the effects of any changes in accounting rules and guidance; our ability to meet production volume targets in our Exploration and Production segment; our ability to comply with the covenants in our various financing documents; our ability to obtain necessary governmental approvals for proposed pipeline and E&P projects and our ability to successfully construct and operate such projects; the risks associated with recontracting of transportation commitments by our pipelines; regulatory uncertainties associated with pipeline rate cases; actions by the credit rating agencies; the successful close of our financing transactions; our ability to close asset sales, as well as transactions with partners on one or more of our expansion projects that are included in the plan on a timely basis; credit and performance risk of our lenders, trading counterparties, customers, vendors and suppliers ;changes in commodity prices and basis differentials for oil, natural gas, and power; our ability to obtain targeted cost savings in our businesses; inability to realize anticipated synergies and cost savings on a timely basis or at all; general economic and weather conditions in geographic regions or markets served by the company and its affiliates, or where operations of the company and its affiliates are located, including the risk of a global recession and negative impact on natural gas demand; the uncertainties associated with governmental regulation; political and currency risks associated with international operations of the company and its affiliates; 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.

Certain of the production information in this press release include the production attributable to El Paso's 49 percent interest in Four Star Oil & Gas Company ("Four Star"). El Paso's Supplemental Oil and Gas disclosures, which are included in its Annual Report on Form 10-K, reflect its proportionate share of the proved reserves of Four Star separate from its consolidated proved reserves. In addition, the proved reserves attributable to its proportionate share of Four Star represent estimates prepared by El Paso and not those of Four Star.

Appendix to El Paso Corporation November 6, 2008 Earnings Press Release

Items Impacting year-to-date results

Nine Months Ended September 30, 2008             Before    After   Diluted
($ millions, except per share amounts)             Tax      Tax      EPS
                                                 -------  -------  -------
Net income available to common stockholders               $   827  $  1.12
Adjustments(1)
   Change in fair value of power contracts       $    83  $    53  $  0.07
   Change in fair value of legacy
    indemnification                                   46       29     0.04
   Case Corporation indemnification                  (65)     (27)   (0.04)
   Gain on sale of portion of telecommunications
    business                                         (18)     (12)   (0.01)
   Other legacy litigation adjustments               (27)     (29)   (0.04)
   Change in fair value of production-related
    derivatives in Marketing                          59       38     0.05
   MTM impact of E&P derivatives(2)                 (123)     (79)   (0.10)
                                                                   -------
       Adjusted EPS--continuing operations(3)                      $  1.09
                                                                   =======
(1) Assumes a 36 percent tax rate, except for Case Corporation
    indemnification and other legacy litigation adjustments, and 767
    million diluted shares
(2) Consists of $104 million of MTM gains on derivatives, adjusted for $19
    million of realized losses from cash settlements
(3) Based upon 767 million fully diluted shares and includes the income
    impact from dilutive securities
Nine Months Ended September 30, 2007             Before    After   Diluted
($ millions, except per share amounts)             Tax      Tax      EPS
                                                 -------  -------  -------
Net income available to common stockholders               $   922  $  1.31
Adjustments(1)
   Brazilian power impairments                   $    65  $    65  $  0.09
   Crude oil trading liability                       (77)     (49)   (0.07)
   Case Corporation indemnification                   11        7     0.01
   Debt repurchase costs                             287      184     0.26
   Change in fair value of production-related
    derivatives in Marketing                          63       40     0.06
   Sale of ANR and related assets                 (1,043)    (674)   (0.96)
   Effect of change in number of diluted shares(2)                   (0.01)
                                                                   -------
       Adjusted EPS--continuing operations(2)                      $  0.69
                                                                   =======
(1) Assumes a 36 percent tax rate, except for Brazilian power impairments
    and discontinued operations, and 699 million diluted shares
(2) Based upon 757 million diluted shares and includes income impact from
    dilutive securities
                            EL PASO CORPORATION
                    CONSOLIDATED STATEMENTS OF INCOME
              (In millions, except per common share amounts)
                                (UNAUDITED)
                                            Quarters        Nine Months
                                              Ended             Ended
                                          September 30,     September 30,
                                        ----------------  ----------------
                                          2008     2007     2008     2007
                                        -------  -------  -------  -------
Operating revenues                      $ 1,598  $ 1,166  $ 4,020  $ 3,386
Operating expenses
    Cost of products and services            68       55      195      170
    Operation and maintenance               329      348      882      978
    Depreciation, depletion and
     amortization                           292      293      903      850
    Taxes, other than income taxes           70       53      230      185
                                        -------  -------  -------  -------
                                            759      749    2,210    2,183
                                        -------  -------  -------  -------
Operating income                            839      417    1,810    1,203
Earnings from unconsolidated affiliates      52       (6)     141       75
Loss on debt extinguishment                   -        -        -     (287)
Other income, net                            (3)      73       52      179
Minority Interest                            (7)      (1)     (23)      (1)
                                        -------  -------  -------  -------
                                             42       66      170      (34)
                                        -------  -------  -------  -------
Earnings before interest expense,
 income taxes, and other charges            881      483    1,980    1,169
Interest and debt expense                  (221)    (228)    (675)    (742)
                                        -------  -------  -------  -------
Income before income taxes                  660      255    1,305      427
Income taxes                                215      100      450      151
                                        -------  -------  -------  -------
Income from continuing operations           445      155      855      276
Discontinued operations, net of income
 taxes                                        -        -        -      674
                                        -------  -------  -------  -------
Net income                                  445      155      855      950
Preferred stock dividends                     9        9       28       28
                                        -------  -------  -------  -------
Net income available to common
 stockholders                           $   436  $   146  $   827  $   922
                                        =======  =======  =======  =======
Earnings per common share
 Basic
  Income from continuing operations     $  0.63  $  0.21  $  1.19  $  0.36
  Discontinued operations, net of
   income taxes                               -        -        -     0.97
                                        -------  -------  -------  -------
  Net income per common share           $  0.63  $  0.21  $  1.19  $  1.33
                                        =======  =======  =======  =======
 Diluted
  Income from continuing operations     $  0.58  $  0.20  $  1.12  $  0.35
  Discontinued operations, net of
   income taxes                               -        -        -     0.96
                                        -------  -------  -------  -------
  Net income per common share           $  0.58  $  0.20  $  1.12  $  1.31
                                        =======  =======  =======  =======
Weighted average common shares
 outstanding
 Basic                                      696      696      697      695
                                        =======  =======  =======  =======
 Diluted                                    766      759      767      699
                                        =======  =======  =======  =======
Dividends declared per common share     $  0.05  $  0.04  $  0.13  $  0.12
                                        =======  =======  =======  =======
                            EL PASO CORPORATION
                            SEGMENT INFORMATION
                                (UNAUDITED)
                                  2008                     2007
                          -------------------- ---------------------------
(In millions)             First  Second Third  First  Second Third  Fourth
                          ------ ------ ------ ------ ------ ------ ------
Operating revenues
 Pipelines                $  720 $  646 $  628 $  644 $  614 $  586 $  650
 Exploration and
  Production                 603    655    881    505    575    575    645
 Marketing                   (57)  (146)    89   (135)   (16)    (9)   (59)
 Power                         -      -      -      -      -      -      -
 Corporate and other,
  including eliminations
  (1)                          3     (2)     -      8     25     14     26
                          ------ ------ ------ ------ ------ ------ ------
   Consolidated total     $1,269 $1,153 $1,598 $1,022 $1,198 $1,166 $1,262
                          ------ ------ ------ ------ ------ ------ ------
Depreciation, depletion
 and amortization
 Pipelines                $   99 $   99 $   97 $   94 $   91 $   94 $   94
 Exploration and
  Production                 212    197    191    170    189    194    227
 Marketing                     -      -      -      1      1      -      1
 Power                         -      -      -      -      -      1      -
 Corporate and other (1)       2      2      4      6      5      4      4
                          ------ ------ ------ ------ ------ ------ ------
   Consolidated total     $  313 $  298 $  292 $  271 $  286 $  293 $  326
                          ------ ------ ------ ------ ------ ------ ------
Operating income (loss)
 Pipelines                $  357 $  263 $  241 $  324 $  276 $  234 $  277
 Exploration and
  Production                 226    281    528    177    229    228    252
 Marketing                   (60)  (154)    82   (136)   (20)   (13)   (65)
 Power                        (8)    (5)    (5)    (5)    (9)    (9)    (3)
 Corporate and other (1)      35     36     (7)   (25)   (25)   (23)   (19)
                          ------ ------ ------ ------ ------ ------ ------
   Consolidated total     $  550 $  421 $  839 $  335 $  451 $  417 $  442
                          ------ ------ ------ ------ ------ ------ ------
Earnings (losses) before
 interest expense and
 income taxes (EBIT)
 Pipelines                $  381 $  295 $  278 $  364 $  318 $  275 $  308
 Exploration and
  Production                 242    304    532    179    235    232    263
 Marketing                   (60)  (153)    82   (135)     5     (8)   (64)
 Power                        (2)    12     (6)    18     16    (67)    (4)
 Corporate and other (1)      39     41     (5)  (210)  (104)    51    (20)
                          ------ ------ ------ ------ ------ ------ ------
   Consolidated total     $  600 $  499 $  881 $  216 $  470 $  483 $  483
                          ------ ------ ------ ------ ------ ------ ------
                            Year-to-Date
                           --------------
(In millions)               2008    2007
                           ------  ------
Operating revenues
 Pipelines                 $1,994  $1,844
 Exploration and
  Production                2,139   1,655
 Marketing                   (114)   (160)
 Power                          -       -
 Corporate and other,
  including eliminations
  (1)                           1      47
                           ------  ------
   Consolidated total      $4,020  $3,386
                           ------  ------
Depreciation, depletion
 and amortization
 Pipelines                 $  295  $  279
 Exploration and
  Production                  600     553
 Marketing                      -       2
 Power                          -       1
 Corporate and other (1)        8      15
                           ------  ------
   Consolidated total      $  903  $  850
                           ------  ------
Operating income (loss)
 Pipelines                 $  861  $  834
 Exploration and
  Production                1,035     634
 Marketing                   (132)   (169)
 Power                        (18)    (23)
 Corporate and other (1)       64     (73)
                           ------  ------
   Consolidated total      $1,810  $1,203
                           ------  ------
Earnings (losses) before
 interest expense and
 income taxes (EBIT)
 Pipelines                 $  954  $  957
 Exploration and
  Production                1,078     646
 Marketing                   (131)   (138)
 Power                          4     (33)
 Corporate and other (1)       75    (263)
                           ------  ------
   Consolidated total      $1,980  $1,169
                           ------  ------
E&P Cash Costs            Third Quarter  Third Quarter
                               2008         2007
                           ($MM)($/Mcfe) ($MM)($/Mcfe)
                          ------ ------ ------ ------
 Total operating expense  $  353 $ 5.35 $  347 $ 4.79
 Depreciation, depletion
  and amortization          (191) (2.89)  (194) (2.69)
 Transportation Costs        (23) (0.35)   (19) (0.26)
 Cost of products &
  services                   (13) (0.20)    (6) (0.07)
 Other                        (1) (0.02)     -      -
                          ------ ------ ------ ------
 Per unit cash costs(2)          $ 1.89        $ 1.77
                          ------ ------ ------ ------
Total equivalent volumes
 (Mmcfe)(2)(3)                   66,033        72,392
                          ------------- -------------
(1) Includes our corporate businesses, telecommunications business and
    residual assets and liabilities of previously sold or discontinued
    businesses.
(2) Excludes volumes and costs associated with equity investment in Four
    Star.
(3) Approximately 41 Mmcfe/d was lost in Third Quarter 2008 due to
    hurricane impact.

Contacts

Investor and Public Relations
Bruce L. Connery
Vice President
Office: (713) 420-5855

Media Relations
Bill Baerg
Manager
Office:  (713) 420-2906

SOURCE: El Paso Corporation