NBP Policy Committee mtg

I asked El Paso's investment bankers (Credit Suisse First Boston) to permit
us to disclose to our minority Partners, Williams and TransCanada, that we
have an offer outstanding to purchase Midwestern pipeline. We would prefer
to mention this offer to Williams first, to obtain their buy in on the
strategy of acquiring it through NBPL rather than at the MLP level. We sent
the bankers revised Confidentiality Agreements for their review. However,
the only feedback from the bankers is that the two primary contacts are "out
of the country". Therefore, I may not be able to mention this at
tomorrow's meeting.