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PANHANDLE EASTERN CORPORATION CLOSES LIMITED PARTNERSHIP UNIT SALE

 HOUSTON, Oct. 1 /PRNewswire/ -- Panhandle Eastern Corporation (NYSE: PEL) today announced the closing on the sale of 6.4 million common limited partnership units of Northern Border Partners, L.P. to the public. Panhandle received net proceeds of approximately $147 million from the transaction.
 Northern Border Partners, L.P. common limited partner units are traded under the symbol NBP on the New York Stock Exchange.
 Panhandle Eastern Corporation, America's natural gas transportation company, 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- 10/01/93
 /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/
 (PEL NBP)


CO: Panhandle Eastern Corporation; Northern Borders Partners, L.P. ST: Texas IN: OIL SU: TNM

LG -- NY056 -- 7821 10/01/93 13:16 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
Words:146
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