News Release
April 25, 2000

FERC Issues Preliminary Determination on Buccaneer Pipeline Project

HOUSTON – The Federal Energy Regulatory Commission announced today that it has approved a Preliminary Determination on Non-Environmental Issues for the Buccaneer Gas Pipeline project. Looking forward, Buccaneer will continue its efforts to ensure the completion of a thorough and timely environmental review and work diligently with the Florida communities towards this end.

According to the project sponsors, "This is a watershed day for Buccaneer Gas Pipeline. This order means that, subject to the completion of its environmental review, the FERC has determined that the Buccaneer Gas Pipeline project is in the public interest and should be approved. This is very positive news indeed."

The Buccaneer Gas Pipeline project, a joint pipeline development between Duke Energy (NYSE:DUK) and Williams (NYSE:WMB), would extend approximately 674 miles across the Gulf of Mexico, transporting natural gas from the offshore Alabama area to the state of Florida. The $1.5 billion project was filed with the FERC on Oct. 28, 1999. For more information about the project, visit the project web site at www.buccaneergaspipeline.com.

Duke Energy, a premier global energy services company, serves customers and creates shareholder value through an integrated network of energy assets and energy experts. As market leaders in their respective fields, Duke Energy businesses manage a multi-national portfolio of energy supply, delivery and trading assets valued at approximately $30 billion. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 100 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.

Williams’ gas pipeline unit has headquarters in Houston with offices in Salt Lake City and Owensboro, Ky. Together, its five interstate natural gas pipelines are among the nation’s largest-volume transporters of natural gas, delivering approximately 16 percent of the natural gas consumed in the United States. Its 27,300-mile pipeline network stretches from coast to coast with access to every major supply basin in the country.

Williams, through its subsidiaries, provides a full range of traditional and leading-edge energy and communications services. Williams information is available at www.williams.com

Portions of this document may constitute "forward-looking statements" as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "safe harbor" protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company’s annual reports filed with the Securities and Exchange Commission.

Contact: Paula Delaney
Phone: 713-215-4263
24 Hour Phone: 704-594-0681
Email: Paula.X.Delaney@Williams.com
Contact: Jose Cox
Phone: 713-627-5008
24 Hour Phone: 704-594-0681
Email: jrcox@duke-energy.com