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Former Head Of Arizona Utility To Join PGE Board Of Directors

Portland General Electric (NYSE:POR) today announced the appointment of Jack E. Davis as a director of the company, effective immediately. The board of directors also appointed Mr. Davis to serve on its finance committee.

“Jack Davis is an experienced utility executive with a broad understanding of the opportunities and challenges facing the electric industry today,” said PGE Board of Directors Chair Corbin McNeill. “We look forward to the benefit of his perspectives as we make strategic decisions that will help PGE continue to provide outstanding value to its customers and shareholders for years to come.”

Davis has extensive regulated utility experience, having served as chief executive officer of Arizona Public Service Company, Arizona’s largest electricity provider, and president and chief operating officer of Pinnacle West Capital Corporation, its parent company. During his 35 years at Arizona Public Service, Davis held executive and management positions in various areas of the company, including commercial operations, generation and transmission, customer service, and power operations.

“I look forward to working with Jack,” said Jim Piro, president and CEO of PGE. “His background as CEO at Arizona Public Service will help us as we strive to continually improve our business.”

About Portland General Electric Company

Portland General Electric, headquartered in Portland, Ore., is a fully integrated electric utility that serves more than 825,000 residential, commercial and industrial customers in Oregon. Visit our Web site at www.PortlandGeneral.com.

Safe Harbor Statement

Statements in this news release that relate to future plans, objectives, expectations, performance, events and the like may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by words including, but not limited to, “anticipates,” “believes,” “intends,” “estimates,” “promises,” “expects,” “should,” “conditioned upon” and similar expressions. Investors are cautioned that any such forward-looking statements are subject to risks and uncertainties. As a result, actual results may differ materially from those projected in the forward-looking statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof and such statements speak only as the date hereof. The Company assumes no obligation to update any such forward-looking statement. Prospective investors should also review the risks and uncertainties listed in the Company’s most recent Annual Report on Form 10-K and the Company’s reports on Forms 8-K and 10-Q filed with the United States Securities and Exchange Commission, including Management’s Discussion and Analysis of Financial Condition and Results of Operations and the risks described therein from time to time.

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