Consumer Attorney Comments on $1.5 Billion Settlement by El Paso Energy.

Business Editors/Legal Writers

SAN FRANCISCO--(BUSINESS WIRE)--Dec. 6, 2003

This afternoon California Superior Court Judge J. Richard Haden granted final approval to a class action settlement valued at nearly $1.5 billion in the El Paso Natural Gas Anti-Trust Cases (J.C.C.P. Nos. 4221, 4224, 4226 & 4228). The litigation was based upon allegations arising out of the natural gas supply shortages that took place during the California energy crisis in 2000 and 2001. The settlement class, with certain exceptions, includes all California residential consumers and businesses that purchased natural gas or electricity between September 1, 1996 and March 20, 2003.

The national plaintiffs' law firm of Lieff Cabraser Heimann & Bernstein, LLP, played the principal role in crafting the settlement in the California El Paso natural gas case on behalf of consumers. "The El Paso settlement is a tremendous extraordinary victory for Californians. The amount, nearly $1.5 billion, constitutes the largest settlement ever of an antitrust suit on behalf of the residents of a single state in our nation's history," commented Lieff Cabraser partner Barry R. Himmelstein who oversaw the litigation.

Members of the media that wish to speak to Mr. Himmelstein concerning the litigation and settlement can reach him this weekend at 415-902-5664.