SCANA Reaffirms 2003 Earnings Guidance at Analyst Meeting
Investor Contact:
John Winn
(803) 217-9240
jwinn@scana.com  


June 4, 2003, Columbia, SC, - At a meeting with utility security analysts held today in New York City, the management of SCANA Corporation (NYSE: SCG) reviewed the Company's strategic growth plan, discussed current financial and operational highlights, reaffirmed the Company's previous guidance for future earnings and dividend growth and reiterated the Company's commitment to the highest standards of corporate governance and fiscal responsibility in all of its operations.

William B. Timmerman, chairman and CEO, and Kevin B. Marsh, senior vice president and CFO, told analysts that while many utility companies are saying that they are returning to the basics, SCANA never left them. They emphasized that the Company's simple, straightforward strategic plan will continue to focus on four critical success factors - employee development, excellence in customer service, cost effective operations and profitable growth - as the Company seeks to fulfill its mission to provide energy and related products to retail markets in the Southeast.

"Our future results are directly linked to the Company's vision of world-class customer service, operational excellence, strong market positions and highly trained and motivated employees working together to improve performance and profitability in all our businesses," said Timmerman. "With more than one-and-a-half million electric and natural gas customers, we believe we are well positioned to achieve consistent and profitable growth in our Southeastern markets."

Marsh reviewed the Company's strong financial and operating position, noting that the majority of the Company's earnings and assets are derived from its regulated utility businesses. He also reaffirmed the Company's 2003 earnings guidance.

"We believe the growth strategies we have in place should enable SCANA to achieve its target of 6 - 8% annual growth in earnings per share over the next 3-5 years," said Marsh. "Based on the solid results reported for the first quarter of this year, we expect earnings for 2003 to fall within the previously announced range of $2.50 to $2.60 per share, excluding gains or losses on investments."

Commenting on the Company's dividend policy, Marsh reaffirmed that management's goal is to increase the annual common stock dividend at a rate that reflects the growth in net earnings from operations while achieving a dividend payout ratio of 50-55 percent. "Providing our shareholders with a competitive total return on their investment has always been one of our major financial goals."

Addressing future energy needs in SCANA's service territory, Marsh reviewed the Company's ongoing construction of an 875 megawatt natural gas-fired electric generating plant in Jasper County, SC and a new natural gas pipeline in the southwestern part of the state. "These projects will help ensure that the Company's customers have safe and reliable sources of electricity and natural gas well into the future," said Marsh.


Webcast

Today's meeting was broadcast live over the Internet. A replay of the webcast is available through June 20, 2003 on the Company's web site at www.scana.com. 


PROFILE

SCANA Corporation, a Fortune 500 company headquartered in Columbia, South Carolina, is a registered holding company engaged, through subsidiaries, in regulated electric and natural gas utility operations, telecommunications and other diversified energy-related businesses. The Company serves approximately 564,000 electric customers in South Carolina and more than one million natural gas customers in South Carolina, North Carolina and Georgia. Information about SCANA Corporation and its businesses is available on the Company's web site at www.scana.com. 


SAFE HARBOR STATEMENT 

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Although SCANA Corporation believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and that actual results could differ materially from those indicated by such forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, the following: (1) that the information is of a preliminary nature and may be subject to further and/or continuing review and adjustment, (2) changes in the utility and non-utility regulatory environment, (3) changes in the economy, especially in areas served by the Company's subsidiaries, (4) the impact of competition from other energy suppliers, (5) growth opportunities for the Company's regulated and diversified subsidiaries, (6) the results of financing efforts, (7) changes in the Company's accounting policies, (8) weather conditions, especially in areas served by the Company's subsidiaries, (9) performance of and marketability of the Company's investments in telecommunications companies, (10) performance of the Company's pension plan assets, (11) inflation, (12) changes in environmental regulations, (13) volatility in commodity natural gas markets and (14) the other risks and uncertainties described from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. The Company disclaims any obligation to update any forward-looking statements.