Scottish Power PLC announces Completion of PacifiCorp sale

                   ScottishPower Completes PacifiCorp sale


Sale of PacifiCorp

The Board of ScottishPower announces the successful completion of the sale of
PacifiCorp to MidAmerican Energy Holdings Company (MEHC) for US$5.1 billion in
cash plus the assumption by MEHC of all of PacifiCorp's debt outstanding at
completion. The sale has received all relevant regulatory and shareholder
consents and has been completed considerably ahead of the schedule originally
envisaged by ScottishPower.

MEHC has agreed to release ScottishPower from indemnities and warranties other
than those relating to corporate taxes and environmental issues in return for a
US$40 million reduction in certain payments due to be made by PacifiCorp to
ScottishPower.

Return of cash

The Board of ScottishPower also announces the proposed return of GBP2.25 billion
of the proceeds from the sale of PacifiCorp to ScottishPower shareholders. The
proposed return is subject to approval by ScottishPower shareholders. The
decision to return GBP2.25 billion was reached after a review of financing
requirements announced at the time of ScottishPower's third quarter results in
February. A significant factor included in the review and in the final decision
was the requirement to make some GBP200 million of special contributions to the
Group's pension schemes designed to repair the schemes' last reported deficit as
at 31 December 2005.

ScottishPower expects to issue a circular to its shareholders at the beginning
of April detailing the method and timing of the proposed cash return, which is
currently expected to be made by way of a B Share scheme accompanied by a share
consolidation designed to maintain comparability of share price, earnings per
share and dividends. This would provide UK tax resident shareholders with
flexibility to elect to receive cash in the form of a capital payment or in the
form of dividend income, or a combination of the two. The creation of B shares
and the share consolidation scheme may result in an adjustment to the price at
which the Group's US$700 million convertible bonds may be converted into
ordinary shares. It is not currently expected that any adjustment will be
significant.

ScottishPower's Chief Executive Philip Bowman said: "I am pleased that we have
been able to complete the sale of PacifiCorp to MEHC on favourable terms and
considerably ahead of the timetable originally envisaged when the deal was
announced in May 2005. The completion of the PacifiCorp sale will allow the
Group to concentrate on developing its continuing businesses. ScottishPower's
shareholders will receive the proposed cash return earlier than originally
anticipated. I am satisfied that it is appropriate to make that return after
having taken into account the review of financing, the ability to invest in
opportunities within the Group to deliver attractive returns, and the need to
make additional payments to our Group pension schemes."

Further information:

Jennifer Lawton     Director, Investor Relations           0141 636 4527
David Ross          Group Investor Relations Manager       0141 566 4853
Colin McSeveny      Director, Media Relations              0141 636 4515


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