South Carolina Electric & Gas Company Announces Debt Offering

Business Wire, Sept 25, 2008

COLUMBIA, S.C. -- South Carolina Electric & Gas Company (SCE&G) announced today that it sold, in a negotiated offering, $300 million principal amount of its First Mortgage Bonds, 6.50 percent series due November 1, 2018. The 10-year bonds were priced to SCE&G at 99.063 percent, and are initially being offered to the public at 99.713 percent to yield 6.538 percent to maturity. Banc of America Securities LLC, Credit Suisse Securities (USA) LLC and Wachovia Capital Markets, LLC acted as joint book-running managers for the transaction.

SCE&G intends to apply the net proceeds from the sale of the bonds toward the repayment of short-term debt and for general corporate purposes.

It is anticipated that these bonds will be issued on October 2, 2008. The transaction is subject to normal closing conditions.

Copies of a written prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended, relating to the offering of these bonds may be obtained by contacting Banc of America Securities LLC, 100 West 33rd Street, 3rd Floor (Attention: Prospectus Department), New York, New York 10001.

SCE&G is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity and in the purchase, sale and transport at retail of natural gas in portions of South Carolina.