PRESS RELEASES 2008
                   
                  FOR IMMEDIATE RELEASE
                  September 17, 2008
                  ISSUED BY:   PG&E Corporation, 1-800-743-6397

                  PG&E CORPORATION DECLARES QUARTERLY COMMON STOCK DIVIDEND; UTILITY DECLARES PREFERRED STOCK DIVIDENDS

                  (San Francisco) – PG&E Corporation (NYSE: PCG) today declared the third quarter 2008 regular cash dividend of 39 cents per share on the Corporation’s common stock. The dividend is payable on October 15, 2008, to shareholders of record on September 30, 2008.

                  “PG&E's solid common stock dividend and financial performance continue to represent an attractive value opportunity for investors in our sector,” said Christopher P. Johns, senior vice president, chief financial officer and treasurer, PG&E Corporation.

                  In addition, PG&E Corporation’s utility subsidiary, Pacific Gas and Electric Company, today declared dividends on all outstanding series of Pacific Gas and Electric Company’s preferred stock for the three months ending October 31, 2008. The dividends will be payable on November 15, 2008, to preferred shareholders of record on October 31, 2008.

                  In order to be considered a shareholder of record for the common and preferred dividend payments, you must have purchased the stock at least three trading days before the applicable record date.

                  Pacific Gas and Electric Company will pay dividends on its eight series of preferred stock as follows:

                  First Preferred Stock, $25 Par Value Quarterly Dividend to be Paid Per Share
                  Redeemable  
                  5.00% $0.31250
                  5.00% Series A $0.31250
                  4.80% $0.30000
                  4.50% $0.28125
                  4.36% $0.27250
                  Non-Redeemable  
                  6.00% $0.37500
                  5.50% $0.34375
                  5.00% $0.31250

                   


                   

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