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SEMCO ENERGY, Inc. Declares Cash Dividend Increase

PORT HURON, Mich., April 18 /PRNewswire/ -- The Board of Directors of SEMCO ENERGY, Inc.(NYSE: SEN) today declared a 2.4 percent increase in its regular quarterly cash dividend.

Specifically, the Board increased the quarterly dividend rate to $.21 per share on the Common Stock of the Corporation from the previous quarterly cash dividend rate of $.205. The dividend is payable on the 15th day of May 2000 to stockholders of record at the close of business on May 5, 2000.

William L. Johnson, Company Chairman and Chief Executive Officer said, "I am very pleased to announce the 2.4 percent increase in the cash dividend. This increase reflects the Board's and management's confidence in the future prospects and growth of the Company."

Johnson added that SEMCO is pursuing a successful strategy of growing both its Gas Distribution and Diversified Businesses with a goal to produce long- term earnings per share growth at about twice the industry average.

He also noted, "Our dividend policy is to share the growth of the Company with periodic increases in the cash dividend, as long as the Company is financially sound and it is in the best interests of our shareholders. We also are mindful of the fact that, as we grow, a larger portion of earnings should be retained and reinvested in the business.

"Above all, it is our objective to deliver to shareholders a more competitive total return by remaining focused on growing earnings during the coming year, anticipating a turn in the tide and a rebound in energy stocks."

SEMCO ENERGY, Inc. is a diversified energy and infrastructure services company that distributes natural gas to more than 350,000 customers combined in Michigan and Alaska. Its subsidiary, SEMCO ENERGY VENTURES, owns and operates businesses involved in gas engineering and quality assurance services, pipeline construction services, propane distribution, intrastate pipelines and natural gas storage in various regions of the United States.
SOURCE SEMCO ENERGY, Inc.
CONTACT: Analysts: Edric R. Mason, Jr., 810-989-4104, fax, 810-989-4098, or Media: Francis R. Lieder, 810-987-2200, ext. 4186, 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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