Pinnacle West Declares Quarterly Dividend; Announces Second-Quarter Conference Call

Pinnacle West Capital Corporations (NYSE: PNW) board of directors today declared a quarterly dividend of $0.525 per share of common stock, payable on September 2, 2008, to shareholders of record on August 1, 2008.

In addition, Pinnacle West plans to release its 2008 second-quarter results on Wednesday, July 30, 2008. That same day at 1 p.m. (ET), the Company invites interested parties to listen to a live web cast of managements conference call to discuss quarterly results and recent developments.

The web cast can be accessed at and will be available for replay on the web site for 30 days. To access the live conference call by telephone, dial (877) 356-3961 and enter Conference ID Number 52534276. A replay of the call also will be available until 11:55 p.m. (ET), Wednesday, August 6, 2008, by calling (800) 642-1687 in the U.S. and Canada or (706) 645-9291 internationally and entering the same Conference ID number as above.

Pinnacle West is a Phoenix-based company with consolidated assets of about $11 billion. Through its subsidiaries, the Company generates, sells and delivers electricity and sells energy-related products and services to retail and wholesale customers in the western United States. It also develops residential, commercial, and industrial real estate projects.


Pinnacle West Capital Corporation
Alan Bunnell, 602-250-3376
Rebecca Hickman, 602-250-5668
Lisa Malagon, 602-250-5671
Web site:

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