Filed by El Paso Energy Corporation
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: El Paso Energy Corporation/The Coastal Corporation
Commission File No. 001-14365
Registration Statement No. 333-31060
The following are excerpts which address the El Paso Energy Corporation/
The Coastal Corporation merger, taken from a presentation given by
H. Brent Austin, Ralph Eads, Greg G. Jenkins and Steve Pike to Analysts
and other potential investors on March 8, 2000.
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Natural Gas to Power:
El Paso Energy Corporation
Electron Noteholder
Due Diligence
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
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This presentation includes forward-looking statements and
projections, made in reliance on the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995.
The companies have 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 presentation, including, without
limitation, oil and gas prices; general economic and weather
conditions in geographic regions or markets served by El
Paso Energy and Coastal and their affiliates, or where
operations of the companies and their affiliates are
located; inability to realize anticipated synergies and cost
savings on a timely basis; difficulty in integration of
operations; and competition. While the companies makes
these statements and projections in good faith, neither
company nor its managements can guarantee that the
anticipated future results will be achieved. Reference
should be made to the companies' (and their affiliates')
Securities and Exchange Commission filings for additional
important factors that may affect actual results.
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INVESTOR NOTICE
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Investors are urged to read the proxy statement/prospectus
which will be included in the Registration Statement on Form
S-4 filed with the SEC in connection with the proposed merger
because it will contain important information. The proxy
statement/prospectus will be available for free on the
SEC's web site (www.sec.gov) and from El Paso Energy
Corporation's office of Investor Relations.
In addition, the identity of the people who, under SEC
rules, may be considered "participants in the solicitation"
of El Paso Energy shareholders in connection with the
proposed merger, and a description of their interests, is
available in an SEC filing under Schedule 14A made by El
Paso Energy Corporation on January 18, 2000.
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Agenda
* Overview of El Paso / Coastal Merger Update
* Industry Fundamentals
* Strategy
* Project Portfolio / Restructuring Overview
* Q&A / Conclusion
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COMBINED FINANCIAL STATISTICS
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$ Millions
Pro Forma
1999 El Paso Coastal Combined
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Revenues $10,600 $7,600 $18,200
EBIT 1,100 990 2,090
EBITDA 1,700 1,500 3,200
Net income 420 500 920
Year-end 1999
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Total assets $16,800 $14,700 $31,500
Total debt 6,340 5,020 11,360
Preferred & minority int. 1,690 750 2,440
Equity Market Cap.* 9,143 9,884 19,027
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Total enterprise value $17,173 $15,654 $32,827
Senior Unsecured Ratings Baa2/BBB Baa2/BBB Baa2/BBB
* Based on 3/6/00 closing prices of $39.75 for EPG and $46.1875 for CGP
