Edison International Defers Preferred Securities Quarterly Payment

May 17, 2001

May 17, 2001

Today, Edison International announced that the company is deferring the quarterly distribution payment on its 7.875% Series A and 8.60% Series B cumulative quarterly income preferred securities (QUIPS), normally payable on May 31.

Distributions may be deferred for up to 20 consecutive quarters under the indenture governing these securities. During the deferral period, unpaid distributions will accrue interest at the applicable coupon rate.

Quarterly payments of QUIPS distributions will be deferred, in accordance with the indenture, until Edison International resumes payments.

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