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Press release from Business Wire

Pinnacle West Ranks 15th in Corporate Responsibility Magazine's ‘100 Best Corporate Citizens' List

<p class='bwalignc'> <i>Company is also the Highest-Ranked Utility</i> </p>

Thursday, March 10, 2011

Pinnacle West Ranks 15th in Corporate Responsibility Magazine's ‘100 Best Corporate Citizens' List08:45 EST Thursday, March 10, 2011 PHOENIX (Business Wire) -- Pinnacle West Capital Corp. (NYSE: PNW), the parent company of Arizona Public Service, could not have asked for a more impressive debut in Corporate Responsibility Magazine's 12th annual list of “100 Best Corporate Citizens.” In its first year on the list, Pinnacle West ranked 15th overall – the highest of any utility – from among thousands of companies worldwide. The Magazine's rankings were announced last week as part of an event hosted at the New York Stock Exchange. “We view sustainability as a business strategy,” said Don Brandt, Pinnacle West Chairman, President and CEO. “Our job is to provide customers with affordable, reliable electricity produced from clean, diverse sources. The only way to do that successfully is to engage with our stakeholders, build a talented workforce and act for the long-term. Our success is tied to the prosperity of the communities we serve.” Recognized by PR Week as one of America's top three most prestigious rankings for public companies, the “100 Best Corporate Citizens” list is based on an analysis of 320 areas of corporate disclosure in the areas of environment, climate change, employee relations, human rights, governance, finance and philanthropy. The 2011 rankings were calculated by IW Financial, an industry leader in market data and analysis. According to Corporate Responsibility Magazine, IW Financial found that the three-year average returns to shareholders of the top 100 firms outperform the S&P 500 average by more than 4 percent. The complete Top 100 list is available at www.thecro.com. Pinnacle West Capital, an energy holding company based in Phoenix, has consolidated assets of about $12.4 billion, more than 6,300 megawatts of generating capacity and about 6,700 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, the Company provides retail electricity service to more than 1.1 million Arizona homes and businesses. For more information about Pinnacle West, visit the Company's website at pinnaclewest.com. Pinnacle West Capital Corp.Media Contact:Alan Bunnell, 602-250-3376Analyst Contacts:Rebecca Hickman, 602-250-5668Geoffrey Wendt, 602-250-5643Website: pinnaclewest.com