Cash Out Indices - September 2001

September 24, 2001

To: Transcontinental Gas Pipe Line Corporation Customers
and Shippers

Re: Cash Out Indices - September 2001

FT AVG. BUY SELL
------ ------ ------ ------
Zone 1 2.2638 2.1000 2.3850
Zone 2 2.2769 2.1175 2.3875
Zone 3 2.2900 2.1350 2.3900
Zone 4 2.3028 2.1471 2.4033
Zone 5 2.3595 2.2008 2.4619
Zone 6 2.4054 2.2443 2.5094

IT AVG. BUY SELL
------ ------ ------ ------
Zone 1 2.2638 2.1000 2.3850
Zone 2 2.2769 2.1175 2.3875
Zone 3 2.2900 2.1350 2.3900
Zone 4 2.3435 2.1878 2.4440
Zone 5 2.5452 2.3865 2.6476
Zone 6 2.6996 2.5385 2.8036

FTG AVG. BUY SELL
------ ------ ------ ------
Zone 1 2.2638 2.1000 2.3850
Zone 2 2.2769 2.1175 2.3875
Zone 3 2.2900 2.1350 2.3900
Zone 4 2.3706 2.2149 2.4711
Zone 5 2.6690 2.5103 2.7714

AVG. BUY SELL
------ ------ ------
FTNT 2.3025 2.1500 2.4100

For information concerning cash out transactions, please contact
Casilda Vasquez at (713)215-4504.

Stella Yu
Manager - Rate Systems
(713)215-3381

- C.DTF