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<SEC-DOCUMENT>0000950134-03-010948.txt : 20030805
<SEC-HEADER>0000950134-03-010948.hdr.sgml : 20030805
<ACCEPTANCE-DATETIME>20030805155606
ACCESSION NUMBER:		0000950134-03-010948
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20030801
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20030805

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WILLIAMS COMPANIES INC
		CENTRAL INDEX KEY:			0000107263
		STANDARD INDUSTRIAL CLASSIFICATION:	NATURAL GAS TRANSMISSION [4922]
		IRS NUMBER:				730569878
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04174
		FILM NUMBER:		03823837

	BUSINESS ADDRESS:	
		STREET 1:		ONE WILLIAMS CTR
		CITY:			TULSA
		STATE:			OK
		ZIP:			74172
		BUSINESS PHONE:		9185732000

	MAIL ADDRESS:	
		STREET 1:		ONE WILLIAM CENTER
		CITY:			TULSA
		STATE:			OK
		ZIP:			74172

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WILLIAMS BROTHERS COMPANIES
		DATE OF NAME CHANGE:	19710817
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d07961e8vk.txt
<DESCRIPTION>FORM 8-K
<TEXT>
<PAGE>
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT



                         Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934



        Date of Report (Date of earliest event reported): August 1, 2003
                                                         ----------------



                          The Williams Companies, Inc.
                          ----------------------------
             (Exact name of registrant as specified in its charter)



      Delaware                    1-4174                        73-0569878
   ---------------            ---------------              --------------------
   (State or other              (Commission                  (I.R.S. Employer
   jurisdiction of              File Number)                Identification No.)
   incorporation)



    One Williams Center, Tulsa, Oklahoma                    74172
  ----------------------------------------                ----------
  (Address of principal executive offices)                (Zip Code)



        Registrant's telephone number, including area code: 918/573-2000
                                                           --------------



                                 Not Applicable
                                 --------------
          (Former name or former address, if changed since last report)


<PAGE>


Item 5. Other Events.

         On August 1, 2003, The Williams Companies, Inc. ("Williams") announced
that it has agreed to terminate a long-term power contract with Allegheny
Energy, Inc. subsidiary Allegheny Energy Supply Company, LLC, for cash
consideration of $128 million payable to Williams.

         On August 1, 2003, Williams also announced agreements involving the
sale of assets for cash proceeds in excess of $100 million. The sale of assets
involved a portion of its operations in Western Canada, a 20 percent aggregate
ownership interest in the West Texas LPG Pipeline Limited Partnership,
distributed-generation units and an associated third-party contract, and a
refined products management business.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

a)         None

b)         None

c)         Exhibits

         Exhibit 99.1      Copy of Williams' press release dated August 1,
                           2003, publicly reporting the matters discussed
                           herein, furnished pursuant to Item 9.

         Exhibit 99.2      Copy of Williams' press release dated August 1,
                           2003, publicly reporting the matters discussed
                           herein, furnished pursuant to Item 9.

Item 9. Regulation FD Disclosure.

         On August 1, 2003, Williams issued two press releases publicly
reporting the matters discussed herein. A copy of the press releases are
furnished as Exhibit 99.1 and 99.2 to this report.

         Pursuant to the requirements of the Securities Exchange Act of 1934,
Williams has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                            THE WILLIAMS COMPANIES, INC.


Date: August 5, 2003                                /s/ Brian K. Shore
                                            ------------------------------------
                                            Name:  Brian K. Shore
                                            Title: Secretary


<PAGE>



                                INDEX TO EXHIBITS

<Table>
<Caption>
EXHIBIT
NUMBER             DESCRIPTION
- -------            -----------
<S>                <C>
 99.1              Copy of Williams' press release dated August 1, 2003, publicly reporting the matters
                   discussed herein.

 99.2              Copy of Williams' press release dated August 1, 2003, publicly reporting the matters
                   discussed herein.
</Table>



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>d07961exv99w1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE>


                                                                    EXHIBIT 99.1

                                                              (WILLIAMS(R) LOGO)

NEWSRELEASE

NYSE: WMB
- --------------------------------------------------------------------------------
DATE: Aug. 1, 2003

WILLIAMS AGREES TO END POWER CONTRACT IN EXCHANGE FOR $128 MILLION

         TULSA, Okla. - Williams (NYSE:WMB) announced today it has agreed to
terminate a long-term power contract with Allegheny Energy, Inc. (NYSE:AYE)
subsidiary Allegheny Energy Supply Company, LLC, for cash consideration of $128
million payable to Williams.

         "This deal is consistent with our strategy to monetize the contracts in
our trading book," said Steve Malcolm, chairman, president and chief executive
officer. "Ending this power-supply arrangement will reduce credit risk specific
to this contract and return good value on the position."

         The agreement is subject to certain conditions, including a provision
that Allegheny successfully completes the sale of its energy supply agreement
with the California Department of Water Resources. Allegheny earlier this week
announced an agreement with a third-party for its CDWR contract.

         Williams is scheduled to receive $100 million upon closing of
Allegheny's CDWR contract sale and another $28 million over the following 12
months.

           Williams' contract to supply up to 1,000 megawatts of power to
Allegheny was scheduled to expire in 2018. Williams now expects to terminate the
contract upon payment in full from Allegheny.

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. More information is available at www.williams.com.

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

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

                    Richard George
                    Williams (investor relations)
                    (918) 573-3679

                                      # # #

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>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>d07961exv99w2.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE>


                                                                    EXHIBIT 99.2

                                                              (WILLIAMS(R) LOGO)

NEWSRELEASE

NYSE: WMB
- --------------------------------------------------------------------------------
DATE: Aug. 1, 2003


                    WILLIAMS ANNOUNCES ASSET SALE AGREEMENTS
                        Transactions Exceed $100 Million

         TULSA, Okla. - Williams (NYSE:WMB) today announced agreements involving
the sale of assets for cash proceeds in excess of $100 million.

           In its midstream business, Williams has completed the first sale
involving a portion of its operations in Western Canada. Canadian Natural
Resources Limited (NYSE/TSX:CNQ) has purchased Williams' West Stoddart natural
gas processing plant for an undisclosed amount.

           The West Stoddart plant is located roughly 50 kilometers northwest of
Fort St. John, British Columbia, and has a processing capacity of 120 million
cubic feet per day.

           Williams's midstream business also has agreed to sell its 20 percent
aggregate ownership interest in the 3,000-mile West Texas LPG Pipeline Limited
Partnership to Buckeye Partners, L.P. (NYSE:BPL) for approximately $28.5
million. This system transports natural gas liquids from points throughout Texas
to Mont Belvieu, Texas. Williams expects to complete the sale this month,
subject to typical closing conditions.

         In its energy marketing and risk management business, Williams has sold
or has agreements to sell distributed-generation units and an associated
third-party contract for approximately $31 million. The units have a total
capacity of approximately 154 megawatts. Williams completed $21 million of the
sales in June; the transaction for the remainder is expected to close in the
third quarter, subject to typical closing conditions.

         In early July, Williams also received $10.1 million from Williams
Energy Partners (NYSE:WEG) for a refined products management business, plus an
estimated $5.2 million for inventory.

         The company expects to record pretax gains of approximately $3 million
in the second quarter and approximately $20 million in the third quarter related
to these asset sales.

ABOUT WILLIAMS (NYSE:WMB)

Williams, through its subsidiaries, primarily finds, produces, gathers,
processes and transports natural gas.

<PAGE>

Williams' gas wells, pipelines and midstream facilities are concentrated in the
Northwest, Rocky Mountains, Gulf Coast and Eastern Seaboard. More information is
available at www.williams.com.

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

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

                    Richard George
                    Williams (investor relations)
                    (918) 573-3679

                                      # # #

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>
</SEC-DOCUMENT>
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