Cleco Announces Redemption of 4.5% Preferred Stock

Cleco (NYSE: CNL) today announced that it has called for redemption all 10,288 outstanding shares of its 4.5% Preferred Stock. The redemption date for the 4.5% Preferred Stock is June 24, 2011, and the redemption price is $101.00 per share, plus accrued and unpaid dividends to the redemption date, or $101.296 per share.

After Cleco deposits the aggregate redemption price in trust for holders of the stock, all shares of the 4.5% Preferred Stock, as of the redemption date, will no longer be deemed outstanding. Holders will not be entitled to dividends and all rights of such holders as shareholders of Cleco by reason of their ownership of such 4.5% Preferred Stock (except their right to receive the redemption price) will cease.