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News Release

TECO Energy declares quarterly dividend

TAMPA, October 18, 2000

At its meeting today, the Board of Directors of TECO Energy, Inc. declared a quarterly dividend of 33.5 cents per share on the company’s common stock. The dividend is payable November 15 to shareholders of record as of November 1.

TECO Energy (NYSE:TE) is a diversified, energy-related holding company headquartered in Tampa. Its principal businesses are Tampa Electric, Peoples Gas, TECO Transport, TECO Power Services, TECO Coal, TECO Coalbed Methane, TECO Propane Ventures and TECO Solutions.

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