WCGR - Williams Communications Group, Inc. Message Board

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Technology Stocks : WCGR - Williams Communications Group, Inc.

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To: jmhollen who started this subject	3/29/2002 4:04:40 PM
From: jmhollen	of 17

Williams Meets Final Major Obligation to Former Telecommunications Unit TULSA, Okla., Mar 29, 2002 /PRNewswire-FirstCall via COMTEX/ -- Williams (NYSE: WMB, quote, news, chart) today announced it has paid $753 million related to Williams Communications Group, Inc.'s (OTC Bulletin Board: WCGR) purchase of certain telecommunications facilities that WCGR had been leasing. In return, Williams will receive an instrument of unsecured debt from WCG in the same amount. Williams announced on March 11 that it was prepared to perform on the obligation, which is the company's last major contingent liability related to WCGR. The financial impact was reported on March 7 in Williams' 2001 earnings report. About Williams Williams, through its subsidiaries, connects businesses to energy, delivering innovative, reliable products and services. Williams information is available at www.williams.com . SOURCE Williams CONTACT: media, Jim Gipson, +1-918-573-2111, or jim.gipson@williams.com , or investors, Rick Rodekohr, +1-918-573-2087, or rick.rodekohr@williams.com , or Richard George, +1-918-573-3679, or richard.george@williams.com , all of Williams URL: williams.com .

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