Energy West, Incorporated Raises Monthly Dividend to $0.04 Per Share

GREAT FALLS, Mont., May 8 /PRNewswire-FirstCall/ -- Energy West, Incorporated (Nasdaq: EWST) announced today that they have raised their monthly dividend from $0.036 to $0.04 per share, an 11.1% increase, starting with the company's June dividend. Since 2003, this is the 9th increase in the Energy West dividend. Rising from no dividends in 2003 to a current annual rate of $0.48/share, this dividend move is in line with Energy West's continued operations improvements, new customer additions and earnings growth over the last several years. The dividend is payable June 30 to shareholders of record on June 16.

Mr. Richard Osborne, Energy West's Chairman and CEO, indicated, "Our Board takes its dividend decision and responsibility to shareholders seriously. When making the dividend decision, we consider our earnings, payout ratio and financial condition of the company. This dividend increase indicates we are confident in the future of Energy West and is a statement to our shareholders in that regard."

Energy West expects to release its earnings for the third quarter of fiscal 2008 on May 15th.

About Energy West

Energy West, Incorporated distributes and sells natural gas to end-use residential, commercial, and industrial customers. It distributes approximately 23 billion cubic feet of natural gas to approximately 36,000 customers through regulated utilities operating in Montana, Wyoming, North Carolina and Maine. The company markets approximately 1.6 billion cubic feet of natural gas to commercial and industrial customers in Montana and Wyoming on an unregulated basis. The company also has a majority ownership interest in 162 natural gas producing wells and gas gathering assets. In addition, the company owns the Shoshone interstate and the Glacier gathering pipelines located in Montana and Wyoming. The company's Montana public utility was originally incorporated in 1909 and is headquartered in Great Falls, Montana.

Safe Harbor Regarding Forward-Looking Statements

The company is including the following cautionary statement in this release to make applicable and to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, Energy West. Forward-looking statements are all statements other than statements of historical fact, including, without limitation, those that are identified by the use of the words "anticipates," "estimates," "expects," "intends," "plans," "predicts," "believes" and similar expressions. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those expressed. Factors that may affect forward-looking statements and the company's business generally include but are not limited to the company's continued ability to make dividend payments, the company's ability to implement its business plan, fluctuating energy commodity prices, the possibility that regulators may not permit the company to pass through all of its increased costs to its customers, changes in the utility regulatory environment, wholesale and retail competition, weather conditions, litigation risks, risks associated with contracts accounted for as derivatives and various other matters, many of which are beyond the company's control, the risk factors and cautionary statements made in the company's public filings with the Securities and Exchange Commission, and other factors that the company is currently unable to identify or quantify, but may exist in the future. Energy West expressly undertakes no obligation to update or revise any forward-looking statement contained herein to reflect any change in Energy West's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

For additional information or clarification regarding Energy West, please contact: James W. Garrett, President and Chief Operating Officer, at (440) 205-1987.

The company's toll-free number is (800) 570-5688. The company's web site is http://www.energywest.com. The company's address is 1 First Avenue South, Great Falls, Montana 59401.

SOURCE Energy West, Incorporated