ONEOK Inc. announced a cash tender offer to purchase its outstanding 4.25% notes due 2022 and its 6.0% notes due 2035, up to a maximum payment amount of $150 million, excluding accrued and unpaid interest. The terms and conditions of the tender offer are described in the January 13, 2014, Offer to Purchase and related Letter of Transmittal, which are being sent to current note holders. The total consideration for each $1,000 principal amount of notes tendered and accepted for purchase, pursuant to the tender offer, will be determined in the Offer to Purchase by reference to a fixed spread specified for each series of notes over the yield, based on the bid-side price of the U.S. Treasury Security specified in the table above, as calculated by the dealer managers, Morgan Stanley & Co.

LLC and J.P. Morgan Securities LLC, on Jan. 27, 2014. In addition, any notes to be accepted for purchase will be prorated as provided in the tender offer documents -- with adjustments downward to avoid the purchase of notes in a principal amount other than $2,000 in the case of the 4.25% notes due 2022 and $1,000 in the case of the 6.0% notes due 2035, and, in each case, in integral multiples of $1,000 in excess thereof -- such that the aggregate consideration payable for all notes accepted for purchase, excluding accrued and unpaid interest, does not exceed the maximum payment amount.