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PANHANDLE EASTERN CORPORATION NAMES LUDWIG VICE PRESIDENT OF CORPORATE DEVELOPMENT

 HOUSTON, Jan. 28 /PRNewswire/ -- Vernell P. Ludwig has been named to the newly created position of vice president of corporate development for Panhandle Eastern Corporation (NYSE: PEL), effective February 1, the company announced today. His responsibilities will include directing efforts focusing on major projects, new business ventures and acquisitions.
 Ludwig, president of Algonquin Gas Transmission Company, will be located at the company's Houston headquarters and will report functionally to Dennis Hendrix, chairman and president. For the next several months, Ludwig will continue to have administrative responsibility for Algonquin's operations in Boston, reporting to George L. Mazanec, executive vice president. Mazanec said he did not anticipate any other changes in Algonquin's operations.
 "Vern's assignment is a part of the company's effort to dedicate additional resources to developing and expanding new business opportunities," Hendrix said. "The new regulatory environment in which we operate provides many opportunities to create new ventures and partnerships, and Panhandle Eastern will be an active participant. Assigning an executive with Vern Ludwig's experience will enhance our success in this effort."
 In view of the direct relationships developing between TETCO and several Algonquin customers, Richard A. Perkins, Texas Eastern Transmission Corporation senior vice president of marketing and regulatory affairs, will assume an increased role in Algonquin's marketing and regulatory affairs activities.
 Ludwig joined Texas Eastern Transmission Corporation in 1977 as manager of gas planning, was named executive assistant to the president in 1980, and a year later became general manager of gas supply projects. He was elected vice president of regulatory affairs for TETCO's gas group in 1982 and was named a senior vice president with rate and administrative responsibilities in 1983. During the next several years, his responsibilities as senior vice president were expanded to include marketing and planning, as well as strategic planning and development. Ludwig was executive vice president of Algonquin from 1986 until his election as president in 1990.
 He received a bachelor's degree in mechanical engineering from Iowa State University, Ames, in 1966 and a master of business administration degree from the Harvard University School of Business Administration in 1972.
 Panhandle Eastern Corporation operates one of the nation's largest interstate natural gas pipeline systems, which provides natural gas to the Midwest and Northeast markets.
 -0- 1/28/93
 /CONTACT: John P. Barnett, 713-627-4072, or (investors) Brad Porlier, 713-627-4600 or 800-347-3636, both of Panhandle Eastern Corporation/
 (PEL)


CO: Panhandle Eastern Corporation ST: Texas IN: OIL SU: PER

TS -- NY057 -- 0272 01/28/93 12:40 EST
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Publication:PR Newswire
Date:Jan 28, 1993
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