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Avista Corp. Consent Solicitation Expires

SPOKANE, Wash., Aug. 25 // -- Avista Corp. (NYSE: AVA) today announced the expiration on Aug. 24, 2006, of its solicitation of consents from holders of its 9.75 percent Senior Notes due June 1, 2008, CUSIP No. 05379BAC1 (the "Notes"), to a one-time dividend of the stock of Avista Capital, Inc., which is the holding company of Avista Corp.'s non-utility businesses. Avista Corp. did not receive the required consents from holders of a majority in principal amount of the Notes. The solicitation will not be extended.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040128/SFW031LOGO )

The purpose of the solicitation was to obtain consents to a one-time waiver of compliance with certain covenants contained in the indenture governing the Notes so as to permit the dividend of Avista's subsidiary, Avista Capital, to Avista's proposed holding company. Without obtaining the required consents, Avista Corp. will not effect the dividend of Avista Capital stock until the Notes mature or are otherwise retired. Avista Corp. will not pay a consent fee to any holders in connection with the terminated solicitation.

Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is a company operating division that provides service to 338,000 electric and 297,000 natural gas customers in three western states. Avista Corp.'s non-regulated subsidiaries include Avista Advantage and Avista Energy. Avista Corp.'s stock is traded under the ticker symbol "AVA". For more information about Avista Corp., please visit http://www.avistacorp.com/.

Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20040128/SFW031LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com

SOURCE: Avista Corp.

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