SCE Declares Preferred Stock Dividends

December 13, 2002

December 13, 2002

ROSEMEAD, Calif., Dec. 13, 2002- The Board of Directors of Southern California Edison Company (SCE) today declared a quarterly dividend of $1.8075 per share on the 7.23% series of $100 cumulative preferred stock payable Jan. 31, 2003, to shareholders of record on Jan. 3, 2003. 

SCE today also declared a quarterly dividend of $0.255 per share on the
4.08% series of cumulative preferred stock, $0.265 per share on the 4.24% series of cumulative preferred stock, and $0.29875 per share on the 4.78% series of cumulative preferred stock payable on Feb. 28, 2003, to shareholders of record Feb. 5, 2003. 

SCE will continue the temporary deferral of shareholder distributions to its parent company, Edison International (NYSE:EIX), in compliance with the Oct. 2, 2001, agreement settling SCE's lawsuit against the California Public Utilities Commission.  That settlement makes possible the recovery of the utility's past power procurement debt incurred during the state energy crisis.   Therefore, Edison International is not declaring a dividend on its common stock.

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An Edison International (NYSE:EIX) company, Southern California Edison is one of the nation's largest electric utilities, serving a population of more than 12 million via 4.3 million customer accounts in a 50,000-square-mile service area within central, coastal and Southern California.  For more information on the California electricity market, see www.sce.com.