Cleco Corporation Stock Split Approved by Shareholders

Apr 27, 2001, 01:00 ET from Cleco Corporation

    PINEVILLE, La., April 27 /PRNewswire/ -- Cleco Corporation (NYSE:   CNL)
 announced today shareholder approval of a charter amendment to increase the
 amount of authorized common stock and to effect a two-for-one split of its
 common stock.
     "We appreciate our shareholders' decision to approve the stock split.  We
 see it as a vote of confidence in our ability to continue executing our
 strategy and providing consistent financial results," Cleco President and CEO
 David Eppler said after shareholders approved the proposal at the
 corporation's annual meeting of shareholders.  Cleco's board of directors had
 previously authorized the split subject to shareholder approval.
     Certificates representing the additional shares of common stock will be
 distributed on or about May 21, 2001 to shareholders of record at the close of
 business on May 7, 2001.  Currently held certificates will remain valid and
 should be retained by shareholders.  After the split, Cleco will have
 approximately 45 million shares of common stock outstanding and have
 authorization to issue up to an aggregate of 100 million shares, including
 shares presently outstanding.  Convertible securities and stock options which
 are outstanding will be adjusted accordingly to reflect the stock split.
     Cleco common stock will begin trading at its post-split price on the day
 after the additional shares are distributed to shareholders, which will be May
 22, 2001, assuming the additional shares are distributed on May 21, 2001.
 
     Cleco Corporation is a regional energy services company headquartered in
 Pineville, La.  It operates a nonregulated midstream energy business that
 develops and operates power plants, and a regulated electric utility company
 that serves about 250,000 customers in Louisiana.
 
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SOURCE Cleco Corporation
    PINEVILLE, La., April 27 /PRNewswire/ -- Cleco Corporation (NYSE:   CNL)
 announced today shareholder approval of a charter amendment to increase the
 amount of authorized common stock and to effect a two-for-one split of its
 common stock.
     "We appreciate our shareholders' decision to approve the stock split.  We
 see it as a vote of confidence in our ability to continue executing our
 strategy and providing consistent financial results," Cleco President and CEO
 David Eppler said after shareholders approved the proposal at the
 corporation's annual meeting of shareholders.  Cleco's board of directors had
 previously authorized the split subject to shareholder approval.
     Certificates representing the additional shares of common stock will be
 distributed on or about May 21, 2001 to shareholders of record at the close of
 business on May 7, 2001.  Currently held certificates will remain valid and
 should be retained by shareholders.  After the split, Cleco will have
 approximately 45 million shares of common stock outstanding and have
 authorization to issue up to an aggregate of 100 million shares, including
 shares presently outstanding.  Convertible securities and stock options which
 are outstanding will be adjusted accordingly to reflect the stock split.
     Cleco common stock will begin trading at its post-split price on the day
 after the additional shares are distributed to shareholders, which will be May
 22, 2001, assuming the additional shares are distributed on May 21, 2001.
 
     Cleco Corporation is a regional energy services company headquartered in
 Pineville, La.  It operates a nonregulated midstream energy business that
 develops and operates power plants, and a regulated electric utility company
 that serves about 250,000 customers in Louisiana.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X71331393
 
 SOURCE  Cleco Corporation