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<TYPE>EX-99
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<FILENAME>d06439exv99.txt
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                                                                      EXHIBIT 99

                                                                 [WILLIAMS LOGO]

NEWS RELEASE

NYSE: WMB

================================================================================

DATE:             May 29, 2003


       WILLIAMS CONTEMPLATING $500 MILLION SENIOR UNSECURED NOTES OFFERING

           TULSA, Okla. - Williams (NYSE:WMB) announced today that the company
is considering an underwritten public offering of $500 million of senior
unsecured notes.

           Williams is evaluating the market and likely pricing for the notes
offering and provides no assurance that the offering will occur, or that it will
occur as anticipated. If the offering proceeds, the notes will be issued under
the company's $3 billion shelf registration statement on Form S-3.

           The company expects that the net proceeds from the offering would be
used to improve corporate liquidity, for general corporate purposes, and for
payment of maturing debt obligations, including the partial repayment of the
company's senior unsecured 9.25 percent notes due March 2004.

         This news release shall not constitute an offer of any of the senior
notes for sale.

ABOUT WILLIAMS (NYSE:WMB)

Williams, through its subsidiaries, primarily finds, produces, gathers,
processes and transports natural gas. Williams' gas wells, pipelines and
midstream facilities are concentrated in the Northwest, Rocky Mountains, Gulf
Coast and Eastern Seaboard.

CONTACT:            Kelly Swan
                    Williams (media relations)
                    (918) 573-6932

                    Travis Campbell
                    Williams (investor relations)
                    (918) 573-2944

                                       ###

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. The company assumes no obligation to
publicly update any forward-looking statements whether as a result of new
information, future events or otherwise.


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