SAN DIMAS, Calif., Oct 29, 2002 (BUSINESS WIRE) -- At its regular quarterly meeting, the Board of Directors of American States Water Company (NYSE:AWR) approved payment of a quarterly dividend of $0.221 per share on the Common Shares of the Company. This action reflects a 1.84% increase over last quarter's dividend and marks the 266th consecutive dividend payment to shareholders made by American States Water Company.

Floyd E. Wicks, President of American States Water Company, remarked, "Shareholders in our Company have a long-term perspective on the value of their investment and the increase in the dividend reflects the Board's commitment to sharing the growth of the Company in the coming years."

Dividends on the Common Shares will be payable on December 1, 2002 to shareholders of record at the close of business on November 8, 2002.

The Company will release its third quarter results before market on Thursday, October 31, 2002. The Company will host a conference call on Thursday, October 31, 2002 at 11:00 a.m. Pacific Standard Time (PST), during which management will be making a brief presentation focusing on the Company's results, strategies, and operating trends.

Interested parties can listen to the conference call over the Internet by logging onto www.aswater.com. The call will also be recorded and replayed beginning Thursday, October 31, 2002 at 2:00 p.m. PST and will run through Thursday, November 7, 2002 until 2:00 p.m. PST. The dial-in number for the audio replay is (800) 642-1687 (reservation number 6258759).

American States Water Company is a holding company that, through its subsidiaries, provides water service to 1 out of 30 Californians located within 75 communities throughout 10 counties in Northern, Coastal and Southern California and to approximately 11,500 customers in the city of Fountain Hills, Arizona and portions of Scottsdale, Arizona. The Company distributes electricity to approximately 22,000 customers in the Big Bear recreational area of California and contracts with various municipalities in both California and Arizona to provide services to an additional 90,000 customers.

CONTACT: American States Water Company
McClellan Harris III, 909/394-3600, ext. 705
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