The objective of the disclosure policy (the "Policy") is to ensure that communications to the media and the general public are timely, factual and accurate, and broadly disseminated in accordance with all applicable legal and regulatory requirements.

This Policy extends to all employees of Edison Electric and its respective subsidiaries, as well as certain other entities that are not public companies, their respective board of directors, those authorized to speak on their behalf and any other person or company in a "special relationship" with Edison Electric.

The disclosure policies and practices applicable to each of Edison Electric subsidiaries, other controlled entities and joint ventures (other than Edison Electric's) whose securities are publicly traded should be stipulated by such entities in a separate disclosure policy. Accordingly, such entities are not specifically covered by this Policy. However, this disclosure policy should generally be consistent with their Policy and such entities must provide sufficient advance notice to Edison of any proposed announcement of material information.

Application To Documents and Statements

This Policy covers disclosures in documents made in annual and quarterly reports and written statements, news releases, letters to shareholders and presentations by senior management at industry conferences as well as information contained on Edison Electric's Web sites and other electronic communications. It extends to oral statements made in meetings and telephone conversations with analysts and investors, interviews with the media as well as speeches, media conferences and conference calls.

Edison Audit Committee

implements procedures for the receipt, retention and treatment of complaints and/or concerns received regarding accounting, internal accounting controls or auditing matters. The confidential, anonymous submission by any employee of concerns regarding questionable accounting or auditing matters is called "WB Employee Safety Net".

All Edison's departments and subsidiaries, whether they are public companies or not, are subject to Edison Disclosure & Audit Policy procedures. However, Edison subsidiaries or affiliates whose securities are publicly traded may have procedures of their own, provided they conform to Edison Electric's policies and procedures.