PGL Peoples Energy Corp

The Board of Directors of Peoples Energy (NYSE:PGL) today declared a regular quarterly dividend of 54 1/2 cents per share, payable on July 14, 2006 to shareholders of record at the close of business June 22, 2006. On an annualized basis, the Company's dividend rate remains equivalent to $2.18 per share. Peoples Energy has a 69 year history of uninterrupted dividend payments. Peoples Energy, a member of the S&P 500, is a diversified energy company consisting of four primary business segments: Gas Distribution, Oil and Gas Production, Energy Assets and Energy Marketing. The Gas Distribution business serves about 1 million utility customers in Chicago and northeastern Illinois. Visit the Peoples Energy web site at www.PeoplesEnergy.com.