May 28 2015 12:00:00:000AM
News Media Contact: Joseph Barrios, (520) 884-3725,

Tucson Electric Power Company Announces Launch of Exchange Offer for Its 3.05% Senior Notes Due 2025

Tucson, Ariz. — Tucson Electric Power (“TEP”) today announced an offer to exchange up to all $300 million aggregate principal amount of its outstanding 3.05% Senior Notes due 2025 (the “Old Notes”) for an equivalent amount of its 3.05% Senior Notes due 2025 registered under the Securities Act of 1933, as amended (the “Exchange Notes”).

The Old Notes were issued and sold by TEP in February, 2015, in a private offering. The exchange offer will expire at 5:00 P.M. ET on Monday, June 29, 2015, unless extended. Tenders of Old Notes must be made before the exchange offer expires and may be withdrawn any time prior to the expiration of the exchange offer. The exchange offer is being made to satisfy TEP’s obligations under a registration rights agreement entered into in connection with the issuance of the Old Notes, and does not represent a new financing transaction.

The terms of the exchange offer are set forth in a prospectus dated May 27, 2015. Copies of the prospectus and the other exchange offer documents may be obtained from the exchange agent:

U. S. Bank, National Association, Exchange Agent
Corporate Trust Services
60 Livingston Avenue
St. Paul, MN 55107
Attention: Specialized Finance
Telephone: (800) 934-6802

This press release is for informational purposes only and is neither an offer to buy nor a solicitation of an offer to sell any Old Notes or Exchange Notes. The exchange offer is being made only pursuant to the exchange offer prospectus, which is being distributed to holders of the Old Notes and has been filed with the United States Securities and Exchange Commission as part of TEP’s Registration Statement on Form S-4 (File No. 333-204237), which was declared effective on May 27, 2015.

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