| 05/14/99 |
"The tower is a Houston landmark that symbolizes stability and innovation, two qualities that accurately define our business at Williams," said Cuba Wadlington Jr., senior vice president and general manager, Williams’ Transco pipeline system. "This renaming reflects Williams’ substantial presence in the Houston area as well as our ongoing commitment to enhancing the quality of life in this community."
Williams, which merged with Transco Energy Company in 1995, is one of the nation’s largest-volume transporters of natural gas in North America. Together with its non-regulated energy business and business communications division, Williams employs more than 1,700 Houstonians more than 21,000 people worldwide.
"Williams Communications Solutions has 110 offices across North America, but we’re proud to call Houston home, and we’re very pleased to be associated with one of the city’s most famous buildings," said Garry McGuire, president and CEO of Williams Communications Solutions. Williams initially moved to the tower once the merger with Transco Energy was completed. Then, Williams Communications Solutions, formerly known as WilTel, moved its corporate headquarters there in August 1995. Today, Williams houses its industry-leading National Technical Resource Center at the tower and occupies 39 floors.
Located at 2800 Post Oak Blvd., the tower stands 64 stories and 901 feet tall. Designed by the internationally acclaimed architectural team of Philip Johnson and John Burgee, the tower – with its adjoining park and dazzling water-wall – quickly became a popular landmark and tourist attraction after its construction in 1982. It is currently the tallest building in the nation located outside of a downtown area.
"Williams has made such an outstanding commitment to Houston. It seems only fitting that the building should bear their name. We are delighted to have them as a tenant and we are happy to support their decision to rename the tower ‘Williams Tower,’" said Hines President, Jeff Hines.
In addition to the renaming announcement, all regular employees, full-time and part-time, will receive six $50 bills as a result of Williams’ stock (WMB) reaching the $50 mark on May 7, 1999 at 3:12 p.m. EDT. As a company, Williams is celebrating this milestone for the fourth time this decade, each time reaching $50 after a stock split.
Reaching the $50 plateau this time represents a return to shareholders of 1,390 percent since Dec. 31, 1990. Few companies have that level of performance throughout the same time span. Since the first $50 distribution in 1993, the pay out represents the value of the share of stock from the first time Williams first hit $50, in April 1993: two 50s in 1996, three in 1997 and now six in 1999.
Williams Communications Solutions LLC is a North American, single-source provider of business communications equipment and multimedia integration services for data, voice, video and advanced applications. Its network support solutions include a diverse portfolio of full-service products from the industry’s leading manufacturers, as well as value-added services that include configuration, design, installation, maintenance and management of mission-critical voice and data networks.
Williams Gas Pipeline is one of the nation’s largest-volume transporters of natural gas, delivering approximately 16 percent of the natural gas consumed in the United States. Its 27,000-mile network of five interstate natural gas transmission pipelines stretches from coast to coast with access to every major supply basin in the country.
About Williams (NYSE:WMB)
Williams, through its subsidiaries, provides a full range of traditional and leading-edge energy and communications services and is one of the nation's largest-volume transporters of natural gas. 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.
Contact Information:
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Chris Stockton (713) 215-2010 |
Cindy Cordova (713) 307-4289 |