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PUBLIC OFFERING OF WILLIAMS COAL SEAM GAS ROYALTY TRUST UNITS ANNOUNCED

 TULSA, Okla., Jan. 13 /PRNewswire/ -- The Williams Companies Inc. (NYSE: WMB; PSE) today announced the underwritten public offering of 5.2 million units of the Williams Coal Seam Gas Royalty Trust at $20 per unit.
 Net proceeds of the offering are expected to be approximately $95 million, and will be used for general corporate purposes, including funding the company's capital program.
 The company expects the gain from the sale of the 5.2 million units will increase first quarter 1993 earnings per share an estimated 57 cents.
 "The gain from the offering combined with the continued improving performance of our interstate pipelines, our natural gas gathering and processing business and WilTel should sustain the momentum we carried out of 1992 and provide a solid base for our ongoing expansion during 1993," said Joseph H. Williams, chairman and chief executive officer.
 The trust will own defined net profit interests in the developed coal seam gas properties in the San Juan Basin of New Mexico and Colorado conveyed to the trust by Williams Production Co., a subsidiary of The Williams Companies.
 All of the current production attributable to the properties being conveyed to the trust is classified as coal seam gas that is entitled to tax credits under Section 29 of the Internal Revenue Code. The conveyance to the trust does not affect the 428 billion cubic feet of conventional natural gas producing properties owned by Williams Production Co.
 Williams also has granted the underwriters an option to purchase up to 780,000 additional units on the same terms and conditions to cover over-allotments, if any. The offering is scheduled to close on Jan. 21. Williams will own the remaining 4.5 million units following the offering, less any units purchased under over-allotment option.
 Trust units will be listed on the New York Stock Exchange under the symbol WTU.
 Smith Barney, Harris Upham & Co. Inc. is managing the offering. Co-managing are Morgan Stanley & Co. Inc., Paine Webber Inc. and Prudential Securities Inc.
 The Williams Companies, listed on the New York and Pacific stock exchanges under the symbol WMB, provides pipeline transportation of natural gas and petroleum products and nationwide digital telecommunications.
 -0- 1/13/93
 /CONTACT: Jim Gipson of Williams Companies, 918-588-2111/
 (WMB WTU)


CO: The Williams Companies; Williams Production Co. ST: Oklahoma IN: OIL SU: OFR

TM -- SF007 -- 4585 01/13/93 16:57 EST
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Date:Jan 13, 1993
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