No Load Stocks

Pinnacle West

Investors Advantage Plan Info

	To join plan: Minimum $50 or have one share of stock.

	Optional cash investments: No Minimum, invested monthly.

	Fees:	Commissions, service charges, and taxes on purchases and sales.

	Agent: Pinnacle West Capital Corp.
		(800) 457-2983 or (602) 379-2500
		Shareholder Dept.
		P.O. Box 52133
		Phoenix, AZ 85072-2133

	from Prospectus dated March 31, 1995. Table of Contents

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