CH Energy Group Conducts Annual Meeting of Shareholders

(Poughkeepsie, NY)  Shareholders assembled today for the 80^th Annual Meeting of CH Energy Group (NYSE: CHG), a 493,000-customer energy company with holdings in 10 states. Chairman of the Board, President and Chief Executive Officer Steven V. Lant reported to the more than 100 stockholders present at the meeting in Poughkeepsie, and answered questions regarding the operation, investments and future outlook of the parent company and two primary subsidiaries, Central Hudson Gas & Electric Corporation and Central Hudson Enterprises Corporation (CHEC).

Lant called 2007 a “year of accomplishments,” citing the many important achievements attained during the year, despite significant challenges that affected overall earnings. “Although earnings in 2007 were one percent below those in 2006, $2.70 compared with $2.73, we continued to lay the foundation for future growth,” said Lant, citing increased investments by CHEC in renewable energy projects and oil distribution acquisitions; and by Central Hudson Gas & Electric Corporation through improvements in electric service reliability performance, submission of a proposed energy efficiency plan pending state approval, strong levels of customer satisfaction and higher investments in the electric and natural gas infrastructure to meet a growing customer base.

Lant addressed some of the challenges in 2007 that will likely continue in 2008, such as a sales shortfall as compared to projections in Central Hudson’s most recent rate agreement, customer conservation brought about by higher energy commodity costs, a weakening economy and problems in financial markets. “These contributed to lower earnings in 2007 and will likely be a drag on earnings again in 2008; but we believe these results are a trough rather than a trend, as the Company is fundamentally sound and financially strong, and will benefit from the long-term strategies put into place,” said Lant. “Top line revenue growth of 20 percent in 2007 provides an indication that the Company has the revenue base by which to grow and improve earnings.”

Lant also reviewed with shareholders progress made with the Company’s “Measures of Success,” first introduced last year and outlined in the 2007 Annual Report. These five-year goals include increasing annual earnings per share by 5 percent, raising the dividend by 5 percent, improving electric system service reliability, attaining customer service targets as measured by the J.D. Power & Associates survey, growing Griffith Energy Services customer base, meeting or exceeding profitability in renewable energy projects, and investing in Central Hudson’s electric and natural gas infrastructure.

“These are challenging goals, but already we have seen progress, especially in our electric service reliability targets in meeting the state mandated reliability goals, and in the growth of our customer base at Griffith,” said Lant.

An audio recording of Mr. Lant’s remarks can be found on the Investor Relations section of the Company’s web site at www.CHEnergyGroup.com. During the meeting, shareholders elected three Board of Directors, Margarita K. Dilley, Steven M. Fetter and Stanley J. Grubel, for terms that will expire in 2011, and voted in favor of a shareholder proposal requesting the Board of Directors to take steps to declassify the Board.

About CH Energy Group, Inc.
With nearly 493,000 customers, CH Energy Group, Inc. is a family of companies seizing new opportunities in the energy marketplace through two primary subsidiaries:  Central Hudson Gas & Electric Corporation is a regulated transmission and distribution utility serving approximately 376,000 customers in eight counties of New York State's Mid-Hudson River Valley, and delivering natural gas and electricity in a 2,600-square-mile service territory that extends from the suburbs of metropolitan New York City north to the Capital District at Albany. Central Hudson Enterprises Corporation, a non-regulated subsidiary, is the umbrella for a family of energy-related companies and investments focused primarily on fuel oil distribution and renewable energy. CHEC's fuel distribution business supplies energy products and services to more than 117,000 customers in nine states, stretching from Connecticut to the Washington, D.C. area. CHEC also has interests in a Lexington, Neb., ethanol plant, two wind power projects, a biomass plant in upstate New York, and plans to build a landfill gas energy facility in Auburn, NY in 2008.

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Forward-Looking Statements
Statements included in this news release, including documents incorporated by reference that are not historical in nature, are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by words including "anticipates," "believes," "projects," "intends," “estimates," "expects," "plans," "assumes," "seeks," and similar expressions. Forward-looking statements including, without limitation, those relating to CH Energy Group, Inc. and its subsidiaries' future business prospects, revenues, proceeds, working capital, liquidity, income and margins, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, due to several important factors including those identified from time to time in the forward-looking statements. Those factors include, but are not limited to: weather; energy supply and demand; fuel prices; interest rates; potential future acquisitions; developments in the legislative, regulatory and competitive environment; market risks; electric and gas industry restructuring and cost recovery; the ability to obtain adequate and timely rate relief; changes in fuel supply or costs; the success of strategies to satisfy electricity requirements now that Central Hudson's major electric generation assets have been sold; future market prices for energy, capacity, and ancillary services; the outcome of pending litigation and certain environmental matters, particularly the status of inactive hazardous waste disposal sites and waste site remediation requirements; and certain presently unknown or unforeseen factors, including, but not limited to, acts of terrorism.  CH Energy Group, Inc. and its subsidiaries undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.  Given these uncertainties, undue reliance should not be placed on the forward-looking statements.