American States Water Company Announces Increase in Dividends

The Board of Directors of American States Water Company (NYSE:AWR) approved a $0.015 per share increase in its quarterly dividend to $0.25 per share on the Common Shares of the Company. This represents a 6.4% increase in the quarterly dividend. For more than 53 consecutive years, American States Water Company shareholders have received an aggregate annual increase in their dividends and this action marks the 286th consecutive dividend payment by the Company.

By approving this increase, the Board of Directors has reflected its continued confidence in the Company and its progress by rewarding those who have supported us for many years - our shareholders, said Floyd E. Wicks, President and CEO of American States Water Company.

Dividends on the Common Shares will be payable on December 1, 2007 to shareholders of record at the close of business on November 9, 2007.

American States Water Company is the parent of Golden State Water Company, American States Utility Services, Inc. and Chaparral City Water Company. Through its subsidiaries, AWR provides water service to 1 out of 30 Californians located within 75 communities throughout 10 counties in Northern, Coastal and Southern California (approximately 255,000 customers) and to over 13,000 customers in the city of Fountain Hills, Arizona and a small portion of Scottsdale, Arizona. The Company also distributes electricity to over 23,000 customers in the Big Bear recreational area of California. Through its non-regulated subsidiary, American States Utility Services, Inc., the Company contracts with the U.S. Government and private entities to provide various services, including water marketing and operation and maintenance of water and wastewater systems.

Contacts:

American States Water Company
Robert J. Sprowls
Senior Vice President, Chief Financial Officer,
Treasurer and Corporate Secretary
909-394-3600, extension 647

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