South Carolina Electric & Gas Company Announces Debt Offering

South Carolina Electric & Gas Company (SCE&G) announced today that it sold, in a negotiated offering, $150 million principal amount of its First Mortgage Bonds, 5.50 percent series due December 15, 2039. The bonds were priced to SCE&G at 98.339 percent, and are initially being offered to the public at 99.214 percent with a yield to maturity of 5.554 percent. Credit Suisse and UBS Investment Bank acted as joint book-running managers and BB&T acted as co-manager for the transaction.

SCE&G intends to apply the net proceeds from the sale of the bonds to finance capital expenditures, including costs to construct new nuclear units and for general corporate purposes.

It is anticipated that these bonds will be issued on December 9, 2009. The transaction is subject to normal closing conditions.

Copies of a written prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended, relating to the offering of these bonds may be obtained by contacting Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New York, NY 10010.

South Carolina Electric & Gas Company is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity and in the purchase, sale and transport at retail of natural gas in portions of South Carolina.