News Release

TECO Energy names Texaco executive to Board of Directors

TAMPA, July 19, 2001

TECO Energy today announced that Ira D. Hall has been named to its Board of Directors, effective immediately. Hall is treasurer of Texaco Inc. and head of the company's finance department. He is responsible for Texaco's worldwide banking and finance activities, including corporate finance, cash management and credit administration.

TECO Energy Chairman and CEO Robert Fagan said, "TECO Energy is fortunate that Ira Hall has joined our Board of Directors, and his qualifications are an excellent match for our company. His financial expertise and experience will be increasingly valuable as we continue to expand our independent power business."

Previously, Hall was general manager of Alliance Management of Texaco, with responsibility for the company's downstream ventures in the United States with Shell and Saudi Refining, Inc., and the Caltex joint venture with Chevron, with operations in more than 60 nations in the Asia-Pacific Region, Africa and the Middle East.

Prior to joining Texaco, Hall held a series of positions of increasing responsibility with IBM Corporation, including director of International Operations, treasurer of IBM U.S., controller of IBM World Trade Corporation and chairman and CEO of IBM WTC Insurance Corporation. He was previously senior vice president of the New York investment banking firm L.F. Rothschild, Unterberg, Towbin, Inc.

Hall graduated from Stanford University with a bachelor of science degree in electrical engineering. He also has a master of business administration degree from Stanford's Graduate School of Business.

He currently serves on the board of directors of American Express Funds and the Jackie Robinson Foundation. He is also chairman of the board of directors of The Executive Leadership Council.

Hall resides in Stamford, Connecticut. He is married and has two grown children.

A high-resolution photo of Hall is available for download here.

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