PHOENIX– For the third straight year, Pinnacle West Capital Corp. (NYSE: PNW) has been selected for the 2007 U.S. Dow Jones Sustainability Index (DJSI), the premier index recognizing sustainable business practices for publicly held corporations.

Pinnacle West, parent company of Arizona Public Service (APS), was one of 93 companies, taken from a universe of the 600 largest North American companies, to be included in the U.S.index. Of those 93, only seven were electric power providers. The evaluation criteria provides investors and asset managers a number of sustainability benchmarks including climate change strategies, energy consumption, human resources development, knowledge management, stakeholder relations and corporate governance.

“The quality of a company's strategy, management and performance in dealing with opportunities and risks deriving from economic, environmental and social developments can be quantified and used to identify and select leading companies for investment purposes,” the Dow Jones stated in this year’s index summary.

The results of the annual review will influence the investment decisions of asset managers in 15 countries who have licensed the DJSI family for a variety of sustainability-driven portfolios – including mutual funds, segregated accounts and structured products, as well as an exchange traded fund (ETF).

“Sustainability is increasingly a core strategy for successful companies,” said Ed Fox, APS Vice President, Communications, Environment & Safety. “There is no doubt that successful companies must be financially sound in the short term, but sustainable companies also must have a longer term view that equally focuses on the environmental and community impacts of their business decisions and their ethical governance. We are honored to be recognized for our efforts to incorporate this triple bottom line into our business strategies.”

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.

Media:
Steven Gotfried, (602) 250-3040
Alan Bunnell, (602) 250-3376

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