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News Release

TECO Energy completes redemption of $380 million of outstanding 10.5% senior notes

TAMPA, June 27, 2005

TECO Energy, Inc. (NYSE: TE) announced today that it has completed its previously announced early redemption of the entire $380 million principal amount outstanding of 10.5% notes due 2007. The notes were redeemed in accordance with the terms of the notes at the make-whole value of 114.304% of the principal amount plus unpaid and accrued interest to the date of redemption, June 27, 2005.  The total aggregate redemption price was approximately $437.2 million, including approximately $2.9 million of accrued interest.

TECO Energy, Inc. (NYSE: TE) is an integrated energy-related holding company with regulated utility businesses, complemented by a family of unregulated businesses. Its principal subsidiary, Tampa Electric Company, is a regulated utility with both electric and gas divisions (Tampa Electric and Peoples Gas System). Other subsidiaries are engaged in waterborne transportation, coal and synthetic fuel production and electric generation and distribution in Guatemala.

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