EXHIBIT (A)(5)(E)


         NEWS                                                     [EL PASO LOGO]
         For Immediate Release

         EL PASO CORPORATION ANNOUNCES FINAL RESULTS OF ITS EXCHANGE OFFER FOR
         9.00% EQUITY SECURITY UNITS

         HOUSTON, TEXAS, DECEMBER 30, 2003--El Paso Corporation (NYSE: EP) today
         announced the final results of its exchange offer for up to 10,350,000
         of its 9.00% Equity Security Units (the "Units"), which expired at 5:00
         p.m., New York City time, on Tuesday, December 23, 2003.

         Based on a final count, 6,057,953 Units were tendered for exchange,
         representing approximately 53 percent of the outstanding Units. In
         accordance with the terms of the exchange offer, El Paso accepted all
         tendered Units without proration among those tendering. El Paso
         exchanged an aggregate of 15,182,972 shares of its common stock and
         $58,762,750 of cash, including cash paid in lieu of fractional shares,
         for the accepted Units. The consideration for the accepted Units will
         be delivered promptly.

         El Paso Corporation's purpose is to provide natural gas and related
         energy products in a safe, efficient, dependable manner. The company
         owns North America's largest 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 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, the ability to implement and achieve our
         objectives in the long-range plan; the successful implementation of the
         settlement related to the western energy crisis; actions by the credit
         rating agencies; the successful close of our financing transactions;
         our ability to successfully exit the energy trading business; our
         ability to divest of certain assets; changes in commodity prices for
         oil, natural gas, and power; inability to realize anticipated synergies
         and cost savings associated with restructurings and divestitures on a
         timely basis; changes in reserves estimates based upon internal and
         third party reserve analyses; general economic and weather conditions
         in geographic regions or markets served by El Paso Corporation and its
         affiliates, or where operations of the company and its affiliates are
         located; the uncertainties associated with governmental regulation; the
         uncertainties associated with the outcome of governmental
         investigations; the outcome of pending litigation including shareholder
         derivative and class actions; political and currency risks associated
         with international operations of the company and its affiliates
         especially due to the instability in Brazil and economic conditions in
         Mexico; difficulty in integration of the operations of previously
         acquired companies, 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
         Fax:     (713) 420-4417

         Media Relations
         Mel Scott, Director
         Office:  (713) 420-3039
         Fax:     (713) 420-6341