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SEMCO ENERGY GAS COMPANY Announces Redemption of Cumulative Preferred Stock

PORT HURON, Mich., Oct. 15 /PRNewswire/ -- SEMCO ENERGY GAS COMPANY today announced that it will redeem all outstanding shares of its Series A, B, C, & D Cumulative Preferred Stock on November 18, 1999.

The Company will pay shareholders $105.00 per share as well as accrued but unpaid dividends to the Redemption Date. The redemption will be paid in cash.

Dividends on the Preferred Stock will cease to accrue and accumulate on the Redemption Date.

Notices of Redemption will be mailed on Tuesday, October 19, to holders of record of the preferred stock with instructions for redemption.

SEMCO ENERGY GAS COMPANY distributes natural gas to more than 250,000 residential, commercial, and industrial customers in Michigan. It is one of two subsidiaries of SEMCO ENERGY, Inc. (Nasdaq: SMGS).

SEMCO ENERGY, INC. also owns SEMCO ENERGY VENTURES, which acquires and operates companies involved in gas engineering and quality assurance services, pipeline construction services, propane distribution, intrastate pipelines and natural gas storage.
SOURCE SEMCO ENERGY, Inc.
CONTACT: Media: Francis R. Lieder, Jr., 810-987-2200, ext. 4186, fax, 810-989-4098, or Analysts: Edric R. Mason, Jr., 810-989-4104, fax, 810-989-4098, both of SEMCO ENERGY, Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding SEMCO Energy's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

 
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