OTHER NEWS - April 3, 1996

Pacific Enterprise to Buy Stock: The Los Angeles-based natural gas utility and energy services firm said its board of directors authorized the buyback of 5% of its outstanding common stock--about 4.25 million shares--over the next two years. The program would cost about $111 million at today’s stock price. The board also raised its common stock dividend by 6% to $1.44 a share. The company also said it has redeemed $160 million out of $210 million in preferred stock in Pacific Enterprises and its subsidiary, Southern California Gas Co. The remaining $50 million is expected to be redeemed by the end of this month. Despite the higher dividend and stock buyback program, Pacific Enterprises said it should continue to have enough funds to take advantage of new domestic and international projects.