Edison International and Southern California Edison Announce Dividend Actions

July 19, 2001

July 19, 2001

ROSEMEAD, Calif., July 19, 2001- The board of directors of Edison International (NYSE:EIX) today voted to eliminate payment of the third-quarter dividend on its common stock that customarily would have been paid on Oct. 31, 2001, because of financial conditions created by California's ongoing energy crisis.

In addition, Edison International's electric utility subsidiary Southern California Edison Company (SCE) announced that its board of directors decided today to defer the quarterly dividends on SCE's 4.08%, 4.24%, and 4.78% series of cumulative preferred stock that would have been payable on Aug. 31, 2001, on SCE's 4.32% series of cumulative preferred stock, and its 6.05% and 6.45% series of $100 cumulative preferred stock that would have been payable on Sept. 30, 2001, and on SCE's 7.23% series of $100 cumulative preferred stock that would have been payable on Oct. 31, 2001.

The SCE board also decided to continue the previous deferral of quarterly dividends on its preferred stock payable on and after Feb. 28, 2001.

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Based in Rosemead, Calif., Edison International is the parent company of Southern California Edison, Edison Mission Energy, Edison Capital, Edison O&M Services and Edison Enterprises.