Preferred Stock Dividend Declared

The Board of Directors of Central Hudson Gas & Electric Corporation, at its meeting held on February 27, 2007, 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 April 2, 2007, to holders of record on March 9, 2007.