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Press release from Business Wire

Pinnacle West Vice President Marty Shultz to Retire

Monday, November 15, 2010

Pinnacle West Vice President Marty Shultz to Retire16:05 EST Monday, November 15, 2010 PHOENIX (Business Wire) -- After 32 years of service to Pinnacle West Capital Corporation, Martin L. (Marty) Shultz announced today he will retire effective Dec. 31. Shultz serves as Pinnacle West's Vice President of Government Affairs. His responsibilities include managing state public affairs and government relations for Pinnacle West and its principal subsidiary, Arizona Public Service Company. “Marty has served our Company with dedication and skill,” said Don Brandt, Chairman, President and Chief Executive Officer of Pinnacle West. “Marty's leadership in the community has inspired all of us. For years to come, our state will reap the benefits of Marty's work in the areas of tax, transportation, education and energy policy. He will be missed, but we know he will remain an enthusiastic advocate for Arizona.” Brandt also noted that Shultz has made a difference for Arizona through his work on behalf of Phoenix Convention Center expansion, Valley Metro Light Rail construction and Arizona State University downtown campus development. “It has been a privilege and a joy to work for Pinnacle West and APS alongside my colleagues for more than three decades,” Shultz said. “This company is in good hands and will continue to provide Arizona and the Southwest with reliable, affordable and increasingly sustainable energy. Although I am retiring from the company, my commitment to Arizona Public Service and the communities it serves will never retire.” Shultz's leadership has earned him numerous honors, including the 2009 Valley Leadership Man of the Year, the 2009 Arizona Bioscience Leader of the Year and, most recently, the Torch of Liberty Award from Arizona's Anti-Defamation League. Shultz plans to continue his community service, including serving on local and national boards in Arizona and across the country. Pinnacle West also announced today the following appointments: Gretchen Kitchel is named a Director of Government Affairs. Kitchel will manage the Company's presence at the Arizona Legislature and coordinate other state and local government relationships. Jessica Pacheco also is named Director of Government Affairs. Pacheco will direct the Company's state and local governmental strategy as well as manage stakeholder relationships. “Gretchen and Jessica possess significant public affairs experience and are well suited to continue Marty's work for the Company,” said David P. Falck, Pinnacle West's Executive Vice President responsible for federal and state public affairs. “They will be strong advocates for a sustainable and secure Arizona energy policy.” APS, Arizona's largest and longest-serving electricity utility, serves more than 1 million customers in 11 of the state's 15 counties. With headquarters in Phoenix, APS is the largest subsidiary of Pinnacle West Capital Corp. (NYSE: PNW). Pinnacle West Capital CorporationMedia Contact:Jenna Shaver, 602-250-4403Website: aps.com