Our 2008 Goals

• Grow core businesses: target multi-year growth of 6%—8% EBIT for pipelines, 8%—12% production for E&P
• Expand committed pipline inventory
• Improve E&P focus, profitability
• Grow MLP—El Paso Pipeline Partners
• Maintain capital discipline

Our specific financial goals for this year include:

• Earnings per share: $1.00—$1.10*
• Earnings before interest, expenses, taxes, depreciation and amortization: $3.4 billion—$3.5 billion
• Capital expenditures: $3.4 billion