Jack E. Davis has been named Chief Operating Officer and Executive Vice President of Pinnacle West Capital Corporation (NYSE:PNW), the Company announced following approval from its Board of Directors earlier today.

Davis, 53, has served as President of Energy Delivery and Sales for APS (Pinnacle West’s principal subsidiary) since 1998. He will retain this position in addition to his new responsibilities. According to Chief Executive Officer Bill Post, Davis’ promotion reflects Pinnacle West’s strategy to establish a corporate structure that enhances the Company’s position in the rapidly evolving electric utility industry.

“Jack has been with APS for more than 22 years and has significant experience in all facets of the business,” Post said. “He is respected throughout the industry and by the employees of our organization.

“With Jack overseeing operations and our regulated distribution company, and with Bill Stewart leading our charge into competitive generation as President of Pinnacle West Energy,” Post stated, “I have a management team with the strategic and creative talent necessary to achieve industry leadership in the West.”

A graduate of New Mexico State University, Davis joined APS in 1973 as an engineer in the System Planning Department. Subsequently, he earned management positions overseeing Power Contracts, System Development and Power Operations, Fossil Generation, and Transmission Systems at APS. APS is Arizona's largest and longest-serving electric utility, serving more than 827,000 customers in 11 of the state's 15 counties.

In addition to his duties at APS, Davis is Chairman of the Western Systems Coordinating Council (WSCC) and is a member of its Board of Trustees; past Chairman of the Western Systems Power Pool; past President of the Western Energy and Supply Transmission (WEST) Associates; and is a member of the National Electric Reliability Council Board of Trustees. He also is a registered professional engineer in the State of Arizona. His community work includes serving on the boards of the Arizona Chamber of Commerce and the Arizona Theater Company, and on the Electrical Engineering Industry Advisory Committee at Arizona State University.

Pinnacle West is a Phoenix-based company with consolidated assets of approximately $6.6 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.

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This press release contains forward-looking statements that involve risks and uncertainties, which include, but are not limited to, the ongoing restructuring of the electric industry; the outcome of the regulatory proceedings relating to the restructuring; regional economic and market conditions, which could affect customer growth and the cost of power supplies; the cost of debt and equity capital; weather variations affecting customer usage; and the strength of the real estate market. These factors and the other matters discussed above may cause future results to differ materially from historical results, or from results or outcomes currently expected or sought by the Company.