News Release

TECO Energy declares quarterly dividend

TAMPA, January 16, 2002

At its meeting today, the Board of Directors of TECO Energy, Inc. (NYSE: TE) declared a quarterly dividend of 34.5 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 Power Services, TECO Transport, TECO Coal, TECO Coalbed Methane and TECO Solutions. For more information about TECO Energy and its subsidiaries, visit online: