News Release

TECO Energy Declares Quarterly Dividend

TAMPA, January 19, 2000

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 Feb. 15 to shareholders of record as of Feb. 1.

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