News Release

TECO Energy declares quarterly dividend

TAMPA, July 21, 1999

At its meeting today, the Board of Directors of TECO Energy, Inc. declared a quarterly dividend of 32.5 cents per share on the company’s common stock. The dividend is payable Aug. 15 to shareholders of record as of July 30.

TECO Energy is a diversified energy-related holding company headquartered in Tampa. Its principal businesses are Tampa Electric, Peoples Gas, TECO Transport, TECO Coal, TECO Coalbed Methane, TECO Power Services, and Bosek, Gibson and Associates.