Edison International and Southern California Edison Announce Dividend Actions

March 19, 2001

March 19, 2001

ROSEMEAD, Calif., March. 19, 2001- The board of directors of Edison International (NYSE:EIX) today voted to eliminate payment of the first-quarter dividend on its common stock that customarily would have been paid on April 30, 2001 because of financial conditions created by California's ongoing energy crisis.

In addition, Edison International's electric utility subsidiary Southern California Edison Company announced that its board of directors had decided to continue deferral of quarterly dividends on SCE's 4.08%, 4.24%, and 4.78% series of cumulative preferred stock payable Feb. 28, 2001 as well as those on the 4.32% series of cumulative preferred stock, and the 6.05% and 6.45% series of $100 cumulative preferred stock, payable March 31, 2001.  The SCE board also decided today to defer payment of a quarterly dividend on the 7.23% series of $100 cumulative preferred stock, payable April 30, 2001.

# # #

Based in Rosemead, Calif., Edison International is a premier international electric power generator, distributor and structured finance provider.  With assets of $36 billion and a portfolio of approximately 28,000 MW, Edison International is an industry leader in privatized, deregulated and incentive-regulated markets and power generation.  It is the parent company of Southern California Edison, Edison Mission Energy, Edison Capital, Edison O&M Services, and Edison Enterprises.