Cleco Corporation Declares Regular Common and Preferred Dividends

PINEVILLE, LA -- (MARKET WIRE) -- October 20, 2006 -- The Board of Directors of Cleco Corporation (NYSE: CNL) today declared regular quarterly dividends on the Company's common stock and preferred stock. Following is a summary of dividend payments, as declared:

Class of Stock         Dividend         Record               Payment
                       Declared          Date                 Date
--------------------------------------------------------------------------
Common Stock            $0.225      October 30, 2006     November 15, 2006

4.5% Preferred Stock    $1.125      November 15, 2006    December 1, 2006

Dividends were also declared on preferred stock held in the Company's Employee Stock Ownership Plan. The Company has a dividend reinvestment plan which allows dividends on its common and preferred stock to be reinvested in additional shares of common stock at market price. Brokerage commissions and administrative fees are incurred on dividend purchases.

Cleco Corp. is a regional energy company headquartered in Pineville, La. It operates a regulated electric utility company that serves about 267,000 customers across Louisiana. Cleco also operates a wholesale energy business with approximately 1,350 megawatts of generating capacity. For more information about Cleco, visit www.cleco.com.

Contact Information: Investor Contacts: Cleco Corporation Keith Crump (318) 484-7719 Ryan Gunter (318) 484-7724 Shareholder Services: Rodney Hamilton (318) 484-7593 Analyst Inquiries: Dresner Corporate Services Kristine Walczak (312) 780-7205 Media Contact: Cleco Corporation Michael Burns (318) 484-7663