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1 SOURCE CORPORATION ANNOUNCES OPEN SEASON FOR NEW FLEX-X SERVICES

 HOUSTON, June 29 /PRNewswire/ -- 1 Source Corporation, a subsidiary of Panhandle Eastern Corporation, will accept requests from July 1 to July 30 for new firm natural gas transportation services offered under the Flex-XTM expansion program. This first annual open season is for firm transportation service starting in November 1995.
 Flex-X is a flexible, firm natural gas transportation expansion program, which represents a commitment to new expansion projects totaling up to 700 million cubic feet per day of firm transportation capacity over a 10-year period on Panhandle Eastern's four interconnected natural gas pipelines: Texas Eastern Transmission Corporation, Algonquin Gas Transmission Company, Panhandle Eastern Pipe Line Company and Trunkline Gas Company.
 Flex-X incorporates innovative features such as annual capacity nominations, pricing certainty and a shorter planning horizon for new capacity decisions. In addition, Flex-X customers can access all major supply basins including the Gulf Coast, Midcontinent and Canada, as well as new storage offered by the company.
 "The Flex-X program is an innovative approach to natural gas transportation services designed to offer customers the flexibility, efficiency and reliability needed to match capacity purchases to their increasing transportation needs," said Fred Fowler, president of 1 Source.
 "Customers nominating during this Flex-X open season will have the opportunity to tailor nominations to their exact requirements for the 1995 winter season. In addition to this service certainty, Flex-X customers will have rate assurance for the requested service."
 To participate in the open season, please contact J.D. Sitton, director of business development for 1 Source, or VaShelle Valenta, manager of energy operations, at 713-627-5000.
 Panhandle Eastern Corporation operates one of the nation's largest interstate natural gas pipeline systems, providing natural gas transportation and related services to the Midwest and Northeast markets.
 -0- 6/29/93
 /CONTACT: Media, John P. Barnett, 713-627-4072, or Investors, Brad Porlier, 713-627-4600 or 800-347-3636, both of Panhandle Eastern/
 (PEL)


CO: 1 Source Corporation ST: Texas IN: OIL SU:

LG -- NY077 -- 6841 06/29/93 15:55 EDT
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Date:Jun 29, 1993
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