Southern California Edison Defers Quarterly Payment on 8-3/8 Debentures

June 20, 2001

June 20, 2001

ROSEMEAD, Calif., June 20, 2001-Southern California Edison (SCE) announced today that it is deferring the quarterly interest payment on its 8-3/8% Junior Subordinated Deferrable Interest Debentures, Series A (QUIDS), normally payable on June 30, 2001.

According to the indenture governing these securities, interest payments may be deferred for up to 20 consecutive quarters. The company said that during the deferral period, unpaid interest installments will accrue interest at the applicable coupon rate.

Future quarterly payments of interest on SCE's QUIDS will be deferred, in accordance with the indenture, until the company resumes payments.

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An Edison International company, Southern California Edison is one of the nation's largest electric utilities, serving a population of more than 11 million via 4.3 million customer accounts in a 50,000-square-mile service area within central, coastal and Southern California.