UNITED STATES
                              WASHINGTON, D.C.

                          SCHEDULE 14A INFORMATION

                   EXCHANGE ACT OF 1934 (AMENDMENT NO. )

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[ ]       Preliminary Proxy Statement
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[ ]       Definitive Proxy Statement
[ ]       Definitive Additional Materials
[X]       Soliciting Material Pursuant to Rule 14a-12

                            EL PASO CORPORATION
              (Name of Registrant as Specified in its Charter)

  (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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                       EL PASO CORPORATION ANNOUNCES
                              UNDER CONTRACT

     HOUSTON,  TEXAS,  MARCH 3, 2003--El Paso  Corporation  (NYSE:EP) today
     announced the completion of two additional transactions that result in
     a total of $1.35  billion of asset sales that have been  completed  or
     announced  since  January  1  of  this  year.  This  total  represents
     approximately  40 percent of the  company's  recently  expanded  asset
     sales goal of $3.4 billion for calendar year 2003.  The sales of these
     assets support El Paso's previously announced 2003 five-point business
     plan,  which  includes  exiting   non-core   businesses   quickly  but
     prudently,  and  strengthening and simplifying the balance sheet while
     maximizing liquidity.

          El Paso  received  $289 million for Valero  Energy  Corporation's
     (NYSE:VLO)  purchase of El Paso's  Corpus  Christi  refinery and South
     Texas refined  petroleum  product pipeline system and terminal assets.
     Valero is  exercising  a purchase  option that was part of a June 2001
     lease agreement between the companies.

          El Paso Corporation also closed the previously  announced sale of
     its  Florida  petroleum  terminals  and tug and  barge  operations  to
     TransMontaigne Inc. (AMEX:TMG) for approximately $155 million. El Paso
     acquired these assets through its merger with The Coastal  Corporation
     in 2001. The Florida petroleum  terminal business provides bunker fuel
     for the maritime  industry and is a major  supplier of residual  fuel,
     diesel, and gasoline throughout Florida.

          El Paso  Corporation  is the  leading  provider  of  natural  gas
     services  and the  largest  pipeline  company  in North  America.  The
     company  has  core  businesses  in  production,  pipelines,  midstream
     services,  and power.  El Paso  Corporation,  rich in assets and fully
     integrated  across  the  natural  gas value  chain,  is  committed  to
     developing new supplies and  technologies to deliver energy.  For more
     information, visit www.elpaso.com.


     This release includes forward-looking statements and projections, made
in reliance on the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. El Paso Corporation 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
successful implementation of the Balance Sheet Enhancement Program and the
Strategic Repositioning Plan; the successful implementation of the 2003
operational and financial plan; the successful completion of the plan to
exit non-core businesses; the positive acceptance of the exit plan by the
credit rating agencies; the accounting and financial consequences of the
plan to exit non-core businesses; changes in commodity prices for oil,
natural gas, and power; the uncertainties associated with governmental
regulation; regulatory proceedings, appeals from regulatory proceedings,
and any related litigation, including those related to the pending FERC
proceeding; inability to realize anticipated synergies and cost savings
associated with restructurings on a timely basis; 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
should 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.


     Prior to its 2003 annual meeting, El Paso will furnish to its
shareholders El Paso's definitive proxy statement relating to this meeting,
together with a WHITE proxy card. Shareholders are strongly advised to read
this proxy statement when it becomes available, as it will contain
important information.

     Shareholders will be able to obtain El Paso's proxy statement, any
amendments or supplements to the proxy statement and any other documents
filed by El Paso with the Securities and Exchange Commission for free at
the Internet website maintained by the Securities and Exchange Commission
at www.sec.gov. Copies of the proxy statement and any amendments and
supplements to the proxy statement will also be available for free at El
Paso's Internet Web site at www.elpaso.com or by writing to El Paso
Corporation, Investor Relations, PO Box 2511, Houston, TX 77252. In
addition, copies of the proxy materials may be requested by contacting our
proxy solicitor, MacKenzie Partners, Inc. at (800) 322-2885 Toll-Free or by
email at proxy@mackenziepartners.com.

     To the extent that individual customers, independent industry
researchers, financial analysts,or El Paso commissioned research, are
quoted herein, it is El Paso's policy to use reasonable efforts to verify
the source and accuracy of the quote. El Paso has not, however, sought or
obtained the consent of the quoted source to the use of such quote as proxy
soliciting material. This document may contain expressions of opinion and
belief. Except as otherwise expressly attributed to another individual or
entity, these opinions and beliefs are the opinions and beliefs of El Paso.

     Information regarding the names, affiliation and interests of
individuals who may be deemed participants in the solicitation of proxies
of El Paso's shareholders is contained in a Schedule 14A filed by El Paso
with the Securities and Exchange Commission on February 18, 2003.



     Communications and Government Affairs           Investor
     Norma F. Dunn                                   Bruce L. Connery
     Senior Vice President                           Vice President
     Office:  (713) 420-3750                         Office:  (713) 420-5855
     Fax:     (713) 420-3632                         Fax:     (713) 420-4417