News Release

TECO Energy announces dividend increase

TAMPA, April 19, 2000

TECO Energy’s quarterly dividend will increase from 32.5 cents per share to 33.5 cents per share, the company announced today. This increase brings TECO Energy’s annual dividend rate to $1.34 per share, a 4-cent increase. The dividend is payable May 15 to shareholders of record as of May 1.

TECO Energy is a diversified energy-related holding company headquartered in Tampa, Florida. 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.