NGC Corporation to Sell Ozark Gas Transmission System to Enogex Inc

Business Wire, Jan 14, 1998

HOUSTON--(BUSINESS WIRE)--Jan. 14, 1998--NGC Corporation (NYSE: NGL) has agreed to sell its Ozark Gas Transmission System to an affiliate of Oklahoma City-based Enogex Inc. for $55 million. Closing is expected in the second quarter of 1998, subject to certain conditions, including FERC and other governmental approvals.

NGC Corporation Chairman and Chief Executive Officer Chuck Watson said, "In 1995 we were successful in purchasing this underutilized asset and with improved operating efficiencies and increased throughput, we have enhanced its value. Because we no longer consider this asset strategic to our business in this area, we have elected to sell it at an attractive value and to redeploy the proceeds into other core business opportunities which provide greater future return on investment."

The Ozark Gas Transmission System is comprised of a 266 mile, 20-inch mainline from southeastern Okla., which interconnects with the transmission facilities of Mississippi River Transmission, Texas Eastern Transmission, and Natural Gas Pipeline Company in Arkansas. It also includes approximately 150 miles of lateral lines ranging from 4 to 12 inches in diameter. The system has a certificated capacity of 170 million cubic feet per day.

NGC Corporation (NYSE:NGL) is a leading gatherer, processor, transporter and marketer of energy products and services in North America and the United Kingdom. Through its "Energy Store," NGC offers a multi-commodity energy-product-and-services resource that provides natural gas, natural gas liquids, electricity and crude oil.

More information on NGC Corporation is accessible at: www.ngccorp.com

CONTACT: NGC Corp., Houston

Maripat Sexton - Media contact, 713/507-3936

or

Dean Ayers - Analyst contact, 713/507-6852