EXHIBIT 99

(Oct. 25, 2002) Williams Discloses Natural Gas Trade Reporting Inaccuracies

TULSA, Okla. - Williams (NYSE:WMB) today said it has learned that a few traders
in its natural gas trading business provided inaccurate information regarding
natural gas trades to an energy industry publication that compiles and reports
index prices.

The inaccuracies came to light during Williams' independent, internal review of
its trading activities. That review is now being conducted in conjunction with
the Commodity Futures Trading Commission's ongoing industry-wide investigation.

Williams is continuing its internal review to determine the extent of the
inaccurate reporting and the impact of the activity on the price index. Further
investigation will provide the company with the information it needs to
determine appropriate disciplinary action.

The company no longer provides data about its natural gas trades to industry
publications as a result of significantly reduced activity in its marketing and
risk management business. Individuals in this portion of Williams' business were
among many energy industry participants who routinely provided data about trades
to publications.

Williams has informed the CFTC and other governmental authorities about its
investigation and will continue to cooperate fully with those entities'
inquiries and investigations.

ABOUT WILLIAMS (NYSE: WMB)

Williams moves, manages and markets a variety of energy products, including
natural gas, liquid hydrocarbons, petroleum and electricity. Based in Tulsa,
Okla., Williams' operations span the energy value chain from wellhead to burner
tip. Company information is available at www.williams.com
.

END

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.