Pinnacle West selects St. Louis executive for CFO post

PHOENIX, Ariz., Nov. 26, 2002 — Pinnacle West Capital Corp. announced Monday the appointment of Donald E. Brandt as Chief Financial Officer effective December 2.

Brandt, 48, comes to Pinnacle West from St. Louis-based Ameren Corporation, where he most recently served as senior vice president and chief financial officer. Ameren is a diversified energy services company with market capitalization of $5.7 billion. Its subsidiaries serve 1.8 million electric and gas customers in Missouri and central Illinois. Brandt also served as president of Ameren Energy, an unregulated energy trading and wholesale marketing subsidiary dealing in electricity, natural gas, emission credits and fuels.

Brandt, a graduate of St. Louis University, will report to Pinnacle West President Jack Davis.

“Don brings to the table important experience and understanding of our industry,” Davis said. “He is very familiar with financial markets and is adept in dealing with the volatile wholesale electricity markets.”

Pinnacle West is a Phoenix-based company with consolidated assets of approximately $8.5 billion. Through its subsidiaries, the company generates, sells and delivers electricity and sells electricity and energy-related products and services to retail and wholesale customers in the western United States. It also develops residential, commercial, and industrial real estate projects.

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