Pinnacle West Declares Quarterly Dividend; Announces Earnings Webcast and Conference Call


PHOENIX- Pinnacle West Capital Corporation’s (NYSE: PNW) board of directors today declared a quarterly dividend of $0.475 per share of common stock, payable on September 1, 2005, to shareholders of record on August 1, 2005.

In addition, Pinnacle West plans to release its 2005 second-quarter results on Wednesday, July 27. That same day at 12 noon(ET), the Company invites interested parties to listen to a live web cast of management’s conference call to discuss earnings and recent events. 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 reservation number 7452307. A replay of the call also will be available until 12 midnight (ET), Wednesday, August 3, 2005, by calling (800) 642-1687 in the U.S. and Canada or (706) 645-9291 internationally and the same reservation number.

Pinnacle West is a Phoenix-based company with consolidated assets of about $10 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.


Alan Bunnell, (602) 250-3376

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

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