Williams Increases Dividend

Williams’ (NYSE: WMB) board of directors today approved a regular dividend of 10 cents per share on the company’s common stock, payable on June 11, 2007, to holders of
record at the close of business on May 25, 2007.

The declaration by the board raises the dividend by 11 percent compared with the 9 cents per share that the company paid in each of the three prior quarters.

Williams has paid a common stock dividend every quarter since 1974.
This is the fourth increase in the Williams dividend since late 2004.

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