EDITORS: Please do not use "Pacific Gas and Electric" or "PG&E" when referring to PG&E Corporation or its National Energy Group. The PG&E National Energy Group is not the same company as Pacific Gas and Electric Company, the utility, and is not regulated by the California Public Utilities Commission. Customers of Pacific Gas and Electric Company do not have to buy products or services from the National Energy Group in order to continue to receive quality regulated services from Pacific Gas and Electric Company.

PG&E CORPORATION TO REPORT 2001 FOURTH QUARTER AND YEAR END EARNINGS ON FEBRUARY 21

(San Francisco, CA) - PG&E Corporation (NYSE: PCG) will announce its Fourth Quarter 2001 Earnings live over the Internet on February 21, 2002 at 10:30 a.m. PST/ 1:30 p.m. EST.

If you are unable to participate during the live web cast, the call will be archived at www.42chongdong.com for 90 days. Alternatively, a toll-free replay of the call will be available shortly after the live call through 6:00 p.m. PST/ 9:00 p.m. EST February 28, 2002 by dialing 877-690-2090 or internationally, 402-220-0651.

(Minimum Requirements to listen to broadcast: The Windows Media Player software, downloadable free from http://www.microsoft.com/windows/windowsmedia/EN/default.asp and at least a 28.8Kbps connection to the Internet. If you experience problems listening to the broadcast, send an email to isproducers@prnewswire.com .)