Released By Gulfstream News Release
April 18, 2001

Initial Gulfstream Natural Gas System Pipe Shipment Arrives in Alabama

HOUSTON – Gulfstream Natural Gas System, L.L.C. has received the first shipment of pipe for construction of its 753-mile natural gas pipeline system. The pipe was delivered to Liberty Port in Mobile, Ala. and transported to a concrete weight coating facility in Theodore, Ala.

"This is the largest pipeline project in the Gulf of Mexico. When you see this first shipment of pipe arrive – all 23,000 tons of it – and realize we still have 12 more shipments coming, it underscores just how enormous this project really is," said Nancy Schultz, Gulfstream senior vice president and general manager, technical functions. "It is exciting to have reached this milestone, which marks the imminent start of physical construction."

The pipe, purchased from Berg Steel Pipe Corporation in Panama City, Fla., arrived by ship from Bremen, Germany, where it was manufactured by Berg’s parent company, Europipe. Each section of 36-inch diameter pipe, with a wall thickness of up to 1.375 inches, is approximately 40 feet in length and weighs up to eight tons.

One hundred seventy two miles of 36-inch pipe will be stored in Alabama until the scheduled start of construction in June. Additional steel pipe manufactured at Berg’s pipe mill in Panama City, Fla., is scheduled to be delivered to Port Manatee, Fla., on May 28.

Gulfstream Natural Gas System, L.L.C. is a joint interstate natural gas pipeline development of Williams (NYSE:WMB) and Duke Energy (NYSE:DUK) approved by the Federal Energy Regulatory Commission Feb. 22, 2001. The proposed 753-mile pipeline project will extend from Mississippi and Alabama across the Gulf of Mexico to Florida. It is designed primarily to serve Florida utilities and power-generation facilities that will use high-efficiency natural gas turbines to meet the demand for electric energy. The project has an initial in-service date of June 2002.

More information about the Gulfstream Natural Gas System is available by visiting the project web site at www.gulfstreamgas.com.

Duke Energy, a diversified multinational energy company, creates value for customers and shareholders through an integrated network of energy assets and expertise. Duke Energy manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses – generating revenues of more than $49 billion in 2000. 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, through its subsidiaries, connects businesses to energy and communications. The company delivers innovative, reliable products and services through its extensive networks of energy-distributing pipelines and high-speed fiber-optic cables. Williams information is available at www.williams.com.

Contact: Chris Stockton - Gulfstream
Phone: 713/215-2010
24 Hour Phone: n/a
Email: Christopher.L.Stockton@Williams.com