NYSE: WMB

Date: June 19, 2006

Northwest Pipeline Corp. Prices Private Debt Issuance

     TULSA, Okla. — Northwest Pipeline Corp., a subsidiary of The Williams Companies, Inc. (NYSE:WMB), announced today that it has priced its previously announced $175 million offering of senior unsecured notes due 2016. The notes, scheduled to be delivered on June 22, were priced with a 7.00 percent coupon and at 99.684 percent to par, with a yield to investors of 7.045 percent.

     Northwest intends to use the net proceeds of the offering for general corporate purposes, including the funding of capital expenditures.

     The notes are being sold to certain institutional investors, have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

     This press release does not constitute an offer to sell or the solicitation of an offer to buy such notes and is issued pursuant to Rule 135c under the Securities Act of 1933.

About Williams (NYSE:WMB)
Williams, through its subsidiaries, primarily finds, produces, gathers, processes and transports natural gas. The company also manages a wholesale power business. Williams’ operations are concentrated in the Pacific Northwest, Rocky Mountains, Gulf Coast, Southern California and Eastern Seaboard. More information is at www.williams.com.

Contact:	Julie Gentz
	Williams (media relations)
	(918) 573-3053
	Richard George
	Williams (investor relations)
	(918) 573-3679

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Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company’s annual reports filed with the Securities and Exchange Commission.