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PANHANDLE EASTERN CORPORATION AND IBM SUBSIDIARIES TO FORM TECHNOLOGY PARTNERSHIP

 HOUSTON, Sept. 2 /PRNewswire/ -- Subsidiaries of Panhandle Eastern Corporation (NYSE: PEL), a leader in the natural gas pipeline industry, and IBM (NYSE: IBM) have signed a letter of intent to form a strategic technology partnership to advance the technology of Panhandle's interactive LINK(R) computer software system and other electronic systems in the natural gas industry.
 Panhandle's 1 Source Corporation and IBM's Integrated Systems Solutions Corporation (ISSC) plan to join forces to take advantage of each other's strengths. 1 Source will provide LINK(R) development and intellectual property rights, regulatory and industry expertise and gas industry products. ISSC will provide systems operations experience and marketing support. Both companies
will contribute products currently under development. The partnership will develop new information systems and services to meet the emerging needs of the natural gas industry.
 The LINK(R) customer interface system is a fully integrated, computer-based natural gas pipeline information system that provides customers with the electronic framework to do business in today's market-driven environment.
 "The proposed partnership puts Panhandle and the LINK(R) system at the forefront of technology development for the natural gas industry," said Dennis Hendrix, chairman and president. "This agreement further illustrates Panhandle's leadership role and innovative approach of responding to the needs of our customers and the gas industry. The association with ISSC will be a reflection of both companies' commitment to meet the rapidly emerging technology needs in the natural gas industry."
 CNG Transmission Corporation recently licensed the LINK(R) system. Panhandle Eastern's four pipelines - Panhandle Eastern Pipe Line Company, Trunkline Gas Company, Texas Eastern Transmission Corporation and Algonquin Gas Transmission Company - also use the LINK(R) system.
 ISSC, headquartered in White Plains, New York, is a premier provider of information technology services to more than 3,000 clients in the United States. Founded in 1991, it provides innovative and total enterprise information technology solutions, including: systems integration, systems management and industry consulting; application software development/maintenance; business recovery services; voice and data networking; and systems operations.
 1 Source Corporation is the total transportation management business unit of Panhandle Eastern Corporation, America's natural gas transportation company. Panhandle Eastern 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.
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 /CONTACT: John P. Barnett, media relations, 713-627-4072, or Brad Porlier, investor relations, 713-627-4600, or 800-347-3636, both of Panhandle Eastern Corporation, or J.P. Versace, ISSC Media Relations, 914-88-3599/ CO: Panhandle Eastern Corporation; IBM ST: Texas IN: OIL CPR SU: JVN


LD -- NY082 -- 8599 09/02/93 17:18 EDT
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Publication:PR Newswire
Date:Sep 2, 1993
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