Cleco Corporation
2030 Donahue Ferry Road
P O Box 5000
Pineville, LA 71361-5000
Tel. 318 484-7400

NEWS RELEASE

Investor Contacts:

Michael P. Prudhomme
(318) 484-7649
Rodney J. Hamilton
(318) 484-7593

CLECO CORPORATION DECLARES REGULAR COMMON

AND PREFERRED DIVIDENDS

PINEVILLE, LA., July 24, 1998 -- 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 Declared	Record Date	Payment Date

Common Stock	$0.405	August 3, 1998	August 15, 1998

Preferred Stock

4.50 %	$1.125	August 15, 1998	September 1, 1998
4.50%, Series of 1955	1.125	August 15, 1998	September 1, 1998
4.65%, Series of 1964	1.1625	August 15, 1998	September 1, 1998
4.75%, Series of 1965	1.1875	August 15, 1998	September 1, 1998

Dividends were also declared on preferred stock held in the Company's Employee Stock Ownership Plan.

The Company stated that a dividend reinvestment plan is available which allows dividends on its common and preferred stock to be reinvested in additional shares of common stock at market price without commission costs.

Cleco provides electric services to approximately 238,000 customers in about one-third of Louisiana's parishes (counties). Through a subsidiary, the Company also markets energy and energy management services and engages in energy asset development oppo rtunities in the southeast region of the United States.

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