PHOENIX - Pinnacle West Capital Corporation (NYSE: PNW) announced today that it expects to release first quarter results after market close on Tuesday, April 26, 2005.

The Company also will host a live web cast and conference call to discuss the Company’s 2005 first quarter results and recent developments at 11 a.m. (ET), Wednesday, April 27, 2005.  The web cast can be accessed at www.pinnaclewest.com/presentations. To access the live conference call by telephone, dial (877) 356-3961 and enter reservation number 5245903

Pinnacle West is a Phoenix-based company with consolidated assets of approximately $9.9 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.

Media:
Alan Bunnell, (602) 250-3376

Analyst:
Rebecca Hickman, (602) 250-5668
Lisa Malagon, (602) 250-5671