Dividends Declared on Puget Energy Common, Puget Sound Energy Preferred Stock

Business Wire, March 12, 2008

BELLEVUE, Wash. -- Puget Energy (NYSE:PSD) and Puget Sound Energy, a wholly owned subsidiary, announced that the board of directors recently declared quarterly dividends on the company's common and preferred stock.

A quarterly dividend of 25 cents per share was declared on Puget Energy's common stock, payable May 15, 2008, to shareholders of record as of the close of business April 23, 2008. The dividend is the 259th consecutive quarterly dividend paid by Puget Energy and its predecessor companies.

Quarterly dividends declared on Puget Sound Energy preferred stock are at the rates shown below:

Quarterly dividends declared on Puget Sound Energy preferred stock:

SERIES  <            <  DIVIDEND      <
PAYMENT DATE

RECORD DATE
4.70%   <            <  $1.175        <
May 15, 2008

April 23, 2008
4.84%   <            <  $1.21         <
May 15, 2008

April 23, 2008

About Puget Energy

Puget Energy (NYSE:PSD) is the parent company of Puget Sound Energy (PSE), a regulated utility providing electric and natural gas service primarily to the growing Puget Sound region of western Washington. Visit PugetEnergy.com for more information.

About Puget Sound Energy

Washington state's oldest and largest energy utility, with a 6,000-square-mile service area stretching across 11 counties, Puget Sound Energy (PSE) serves more than 1 million electric customers and 729,000 natural gas customers, primarily in western Washington. PSE meets the energy needs of its growing customer base through incremental, cost-effective energy efficiency, low-cost procurement of sustainable energy resources, and far-sighted investment in the energy-delivery infrastructure. PSE employees are dedicated to providing great customer service to deliver energy that is safe, reliable, reasonably priced, and environmentally responsible. Visit PSE.com for more information.