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Press release from Business Wire

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

Wednesday, April 21, 2010

Pinnacle West Declares Quarterly Dividend; Announces First-Quarter Conference Call18:34 EDT Wednesday, April 21, 2010 PHOENIX (Business Wire) -- Pinnacle West Capital Corporation's (NYSE: PNW) Board of Directors today declared a quarterly dividend of $0.525 per share of common stock, payable on June 1, 2010, to shareholders of record on May 3, 2010. In addition, Pinnacle West plans to release its 2010 first-quarter results on Thursday, May 6, 2010. 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 results and recent developments. The web cast can be accessed at www.pinnaclewest.com/presentations 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 66015030. A replay of the call also will be available until 11:55 p.m. (ET), Thursday, May 13, 2010, 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 $12 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.