ADVANCE/Central and South West Corp. unit signs exchange agreement with Philippine utility MERALCO.

(ADVANCE) DALLAS--(BUSINESS WIRE)--Nov. 22, 1996--Central and South West Corporation (NYSE: CSR) said today that its Central and South West Services, Inc., subsidiary has entered into a 2-year exchange partnership with the Philippine electric distribution utility Manila Electric Company (MERALCO).

The agreement, signed today at the Philippine Embassy in Washington, D.C., provides for four to six executive exchange visits a year to discuss key utility topics.

"We are pleased that MERALCO has chosen CSW as its executive exchange partner," said Glenn Files, executive vice president of Central and South West. "Both companies will gain long-term benefits from this exchange program."

The key topics of the utility partnership are: 1) demand-side management and integrated resource planning; 2) reliability and quality of electric service; and 3) customer service. As an example, Central and South West expects to learn new ways to prepare for and deal with major storms, Files said. The international exchange program also will enhance the management development programs of Central and South West and MERALCO.

The agreement was signed by Jose T. Guingona, assistant to the president of MERALCO, and by Files on behalf of Central and South West.

James Berger, director of standards of Central and South West Services, will coordinate Central and South West's activities in the program. Files said executives from the corporation's CSW International, Inc., subsidiary also will participate in the exchanges.

The exchange program was established under the auspices of the United States Energy Association, a nonprofit organization of U.S. energy companies, and the U.S. Agency for International Development. The program's goal is to improve the environmental soundness of supply and use of electric power in developing countries. Through long-term cooperative relationships, U.S. utilities are able to transfer their experience with efficient power production, transmission and distribution to their foreign utility partners.

MERALCO is the largest electric distribution utility in the Philippines, serving 23 percent of the country's population. Its service territory includes Manila and the surrounding areas on the northern island of Luzon and encompasses 14 cities and 97 municipalities having more than 2.6 million customers.

Central and South West Corporation is a Dallas-based public utility holding company. It owns four U.S. utility subsidiaries that provide electric service to 1.7 million customers in Texas, Oklahoma, Louisiana and Arkansas and a regional electric company with 2 million customers in the United Kingdom. It also owns CSW International, Inc., which develops, acquires, constructs, owns and operates power production and distribution facilities worldwide, and non-utility subsidiaries involved in independent power production in the U.S., telecommunications, energy efficiency and financial transactions.

(End of advance for release 8 a.m. EST, Friday, Nov. 22)

CONTACT: CSW Energy and CSW International, Dallas

Media: Bill Lohrman, 214/777-3730

Financial Community Contact: Sharon R. Peavy,

214/777-1277