Maurice L. Arel, President and Chief Executive Officer of Pennichuck Corporation, announced today that the Company's Board of Directors recently declared a quarterly dividend of $.24 per share payable on May 15, 2000 to shareholders of record as of May 1, 2000. This quarterly dividend remained unchanged from the previous quarter and the Company's annualized dividend rate is currently $.96 per share. Mr. Arel also noted that the Company’s next dividend reinvestment date under the Company’s Common Stock Purchase and Dividend Reinvestment Plan is May 15, 2000. Any shareholders wishing to purchase additional shares under that plan should ensure that their payment is received by the Company’s transfer agent no sooner than April 15, 2000 and no later than May 9, 2000.

Pennichuck Corporation, a New Hampshire corporation, is a holding company whose operating subsidiaries are involved in diversified activities such as water supply and distribution, operations and maintenance contracts, laboratory testing and real estate development and management. Pennichuck is traded on the Nasdaq National Market System under the symbol "PNNW".