Energy East Declares Special Pro Rata Dividend

PORTLAND, Maine, Sept. 11  /PRNewswire-FirstCall/ -- The Board of Directors of Energy East Corporation (NYSE:EAS) today declared a special pro rata dividend on the Common Stock of the Corporation pursuant to the Agreement and Plan of Merger by and among Energy East, Iberdrola, S.A. and Green Acquisition Capital, Inc. dated June 25, 2007.

Shareholders of record of Energy East's Common Stock outstanding immediately prior to the effective time of the merger will receive a dividend per share equal to the number of days from and including July 24, 2008, (Energy East's prior ex-dividend date) until and including the day prior to the effective date of the merger multiplied by $0.003406593 (the daily equivalent of $0.31 per quarter). Payment of the dividend will be made as soon as practicable following the effective time of the merger, which is expected to close in the next several days.

Forward Looking Statement:

This communication contains forward-looking information and statements about Energy East. Forward-looking statements are statements that are not historical facts. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements are generally identified by the words "expects," "anticipates," "believes," "intends," "estimates" and similar expressions. Although the management of Energy East Corporation believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Energy East Corporation shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Energy East Corporation, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the public documents sent by Energy East to their regulators and under "Risk Factors" in their annual and quarterly reports filed with the SEC. Except as required by applicable law, Energy East undertakes no obligation to update any forward-looking information or statements.

About Energy East: Energy East Corporation (NYSE:EAS) is a respected super-regional energy services and delivery company serving about 3 million customers throughout upstate New York and New England. By providing outstanding customer service and meeting customers' energy requirements in an environmentally-responsible manner, Energy East will continue to be a valuable asset to the communities we serve.

Website: http://www.energyeast.com/ 

DATASOURCE: Energy East Corporation



CONTACT:  Investor Relations, Energy East Corporation, [phone]



Web site:  http://www.energyeast.com/ 

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