<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>d95642ex99-1.txt
<DESCRIPTION>PRESS RELEASE DATED MARCH 29, 2002
<TEXT>
<PAGE>

                                                                    EXHIBIT 99.1

NEWS RELEASE                                                     [WILLIAMS LOGO]

NYSE: WMB

--------------------------------------------------------------------------------


DATE:          March 29, 2002


<Table>
<S>         <C>                           <C>                              <C>
CONTACT:    Jim Gipson                    Rick Rodekohr                    Richard George
            Williams (media relations)    Williams (investor relations)    Williams (investor relations)
            (918) 573-2111                (918) 573-2087                   (918) 573-3679
            jim.gipson@williams.com       RICK.RODEKOHR@WILLIAMS.COM       RICHARD.GEORGE@WILLIAMS.COM
</Table>

                 WILLIAMS MEETS FINAL MAJOR OBLIGATION TO FORMER
                            TELECOMMUNICATIONS UNIT

           TULSA, Okla. - Williams (NYSE: WMB) today announced it has paid $753
million related to Williams Communications Group, Inc.'s (NYSE: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 (NYSE: WMB)

Williams, through its subsidiaries, connects businesses to energy, delivering
innovative, reliable products and services. Williams information is available at
www.williams.com.

                                       ###


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.





</TEXT>
</DOCUMENT>
