Preferred Stock Dividend Declared

The Board of Directors of Central Hudson Gas & Electric Corporation, at its meeting held on August 25, 2008, at the utility's South Avenue Headquarters, Poughkeepsie, New York, declared dividends of:

• $1.08-3/4 per share on its 4.35 percent cumulative preferred stock;
• $1.12-1/2 per share on its 4-1/2 percent cumulative preferred stock;
• $1.18-3/4 per share on its 4.75 percent cumulative preferred stock; and
• $1.24 per share on its 4.96 percent cumulative preferred stock.

Each of these dividends will be payable October 1, 2008, to holders of record on September 10, 2008.

#          #            #