(Poughkeepsie, NY)           

Shareholders gathered in Poughkeepsie, New York, today for the 79^th Annual Meeting of CH Energy Group, Inc., a 470,000-customer energy company with holdings in 10 states. Chairman of the Board, President and Chief Executive Officer Steven V. Lant provided more than 100 stockholders with a comprehensive status report and answered questions regarding the operations and investments of the parent company and its two primary subsidiaries, Central Hudson Gas & Electric Corporation and Central Hudson Enterprises Corporation (CHEC).

Lant called 2006 "a challenging year." Higher commodity prices prompted customers to conserve energy, impacting financial results. "Despite the fact that our earnings per share were lower in 2006 than in 2005, $2.73 versus $2.81, I'm proud of the job our company did in 2006," he said, pointing to expense control, negotiation of a three-year utility rate agreement, growth in the number of customers served and solid electric system performance in the face of peak demand as indicators of strong management last year.

"In a very positive development, we saw for the first time, a significant contribution to earnings per share from our renewable energy portfolio – 13 cents per share in total. We added our third renewable energy investment in the Lyonsdale biomass plant," as well, he said. Lant noted that Griffith Energy Services fuel distribution segment now has more than 100,000 customers as a result of recent acquisitions.

Lant told shareholders that 2007 earnings projections will be adjusted upward during the announcement of first-quarter earnings later in the week, and that he sees sources for continued earnings growth during 2008.

The Chairman also discussed with shareholders the Company's "Measures of Success" which were outlined in its 2006 Annual Report. The five-year goals include increasing annual earnings per share by 5 percent, raising the dividend by 5 percent, improving electric system reliability by 20 percent, regaining top-quartile customer satisfaction in the J.D. Powers & Associates survey, growing Griffith's customer base by 30 percent, meeting or exceeding profitability projections for renewable energy projects, and investing $85 million to add 40 cents per share.

"Achieving these goals will not be easy. The political and economic landscape is changing and unpredictable, and there are risks and pitfalls. But we have the people. We have the money. We have the desire to get it done. I have every confidence that we will succeed," he concluded.

The complete text of Mr. Lant's prepared remarks can be found here, as well as a web cast of the Annual Meeting.  During the meeting, shareholders elected two members to the Board of Directors, Lant and Jeffrey D. Tranen, for terms that will expire in 2010.

About CH Energy Group, Inc.
With nearly 470,000 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 363,500 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 100,000 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, and a biomass plant in upstate New York.

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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.