Exhibit 99.2

[LOGO] ONEOK                                                 Financial News
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August 28, 2002                                        Contact:   Weldon Watson
                                                                  918-588-7158

                       ONEOK Affirms Strong Balance Sheet
                             and Powerful Asset Base

         TULSA, Oklahoma - ONEOK, Inc. (NYSE:OKE) reiterated its strong balance
sheet, powerful asset base and strategic focus in light of today's decision by
Moody's Investor Service to change the company's debt rating.

         David Kyle, chairman, president and chief executive officer of ONEOK,
said, "While we are disappointed, we believe today's decision by Moody's
reflects current industry conditions and the current corporate credit
environment.

         "At a time when our industry is facing significant challenges, ONEOK's
powerful asset mix, strategic focus and strong balance sheet have enabled us to
achieve solid results. We intend to maintain our strong balance sheet and
continue to seek attractive opportunities - both through purchase and sale - to
maximize our assets and operations. We believe this strategy will continue to
deliver positive results for the company and our shareholders," Mr. Kyle
concluded.

         Over the past several years, ONEOK has transformed itself from a
mid-sized Oklahoma gas provider into a strong, profitable and diversified leader
in the energy industry by pursuing a highly disciplined and deliberate growth
strategy. From wellhead to burner tip, ONEOK has built a combination of
regulated and non-regulated businesses that are unmatched in the asset-rich Mid
Continent region. ONEOK's midstream acquisitions have moved ONEOK into the top
10 nationally for natural gas liquids production. Its asset-backed energy
marketing operations reach more than 28 states, and the company continues to be
a key player in the retail natural gas markets in Oklahoma and Kansas.

         ONEOK, Inc. is a diversified energy company involved primarily in oil
and gas production, natural gas processing, gathering, storage and transmission
in the mid-continent areas of the United States. The company's energy marketing
and trading operations provide service to customers in 28 states. The company is
also the largest natural gas distributor in Kansas and Oklahoma, operating as
Kansas Gas Service and Oklahoma Natural Gas Company, serving 1.4 million
customers.

         Statements contained in this release that include company expectations
or predictions are forward-looking statements intended to be covered by the safe
harbor provisions of the Securities Act of 1933 and the Securities Exchange Act
of 1934. It is important to note that the actual results could differ materially
from those projected in such forward-looking statements. Any additional
information regarding factors that could cause actual results to materially
differ is found in the company's Securities and Exchange Commission filings

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