SOUTHWESTERN ENERGY COMPANY PLEDGES WALTON COLLEGE FACULTY SUPPORT

FAYETTEVILLE, Ark. — Southwestern Energy Company has pledged $125,000 for faculty support in the Sam M. Walton College of Business, University of Arkansas.

The Southwestern Energy Company Faculty Support Fund will provide funds for salary supplements (above minimum state salaries), summer teaching and research stipends, moving expenses, and other expenses for faculty. In addition, a classroom in the College’s Business Building will be named in honor of Southwestern Energy Company.

"Many of our talented faculty are constantly being pursued for recruitment by other top business schools," said Walton College Dean Doyle Z. Williams. "One of the College’s major objectives is to retain and recruit high quality faculty for our students, and this gift from Southwestern Energy will go a long way toward supporting that objective."

Harold Korell, chairman and CEO of Southwestern Energy, said, "We believe in the mission of the University of Arkansas and we want to provide support wherever we can. We can count on the Walton College to deliver top business talent."

Korell is a member of the Walton College Dean’s Executive Advisory Board, which serves as a consultant to the College on strategies, programs and curriculum. Prior to joining Southwestern Energy, he was senior vice president for American Exploration Company and previously held management positions for 17 years with Tenneco Oil Company. Korell is a graduate of the Colorado School of Mines with a degree in chemical and petroleum refining engineering. He served as a member of the National Petroleum Council in 2002.

Southwestern Energy Company has been a long-time supporter of the Walton College. The company was instrumental in planning and organizing the first Walton College Business Forecast luncheon in 1995, an annual economic forum that drew over 600 business and community leaders this year. Southwestern Energy also helped establish and support the Charles E. and Clydene Scharlau Endowed Chancellor’s Scholarship. In addition, the company has provided assistance with an endowment to provide maintenance and improvements for the Donald W. Reynolds Center for Enterprise Development. Southwestern Energy is a member and supporter of the College’s Information Technology Research Center.

Southwestern Energy Company is an independent energy company headquartered in Houston, Texas, primarily focused on the exploration for and production of natural gas. Originally organized in 1929 as a local natural gas distribution company in Arkansas, today the Company is involved in natural gas and crude oil exploration and production in Arkansas, Oklahoma, Texas, New Mexico and Louisiana. It is also involved in natural gas distribution and natural gas marketing and transportation.

This gift counts toward the Walton College’s Campaign for the Twenty-First Century goal of $100 million. As of August 31, 2003, the Walton College had raised over $94 million toward that goal. The gift also counts toward the $300 Million Challenge, the campaign-within-a-campaign to raise $300 million for academic purposes to match the Walton Family's $300 million gift. Challenge funds must be raised between Jan. 1, 2002, and June 30, 2005, the end of the Campaign. The Challenge total stands at $119 million as of Aug. 31, 2003.