Investor Info 2001

For Immediate Release:
April 21, 2000

Contact: Maurice L. Arel, President and Chief Executive Officer
               Charles J. Staab, VP, Treasurer and Chief Financial Officer
Phone: 603-882-5191
Fax: 603-882-4125

Pennichuck Corporation Announces First Quarter 2001 Earnings

Maurice L. Arel, President and Chief Executive Officer of Pennichuck Corporation, announced today that net income for the first three months of 2001 was $415,000, or $.23 per share compared to $460,000, or $.26 per share for the same quarter in 2000.

Consolidated revenues, comprised chiefly of water utility revenues, were $4,418,000 for the first quarter of 2001 -- an increase of $292,000, or 7% over the same quarter last year. Mr. Arel stated that water utility revenues from the Company's regulated utilities amounted to $3,615,000 for the current quarter and were essentially unchanged from last year. Typically, water consumption is at its lowest point during the first quarter. However, he added, other water-related and real estate revenues were $275,000 greater in the first quarter of 2001 due to a continuation of strong residential real estate sales and increased contract and service operations from a year ago.

Pennichuck Corporation is a holding company located Nashua, New Hampshire with diversified businesses involved in regulated water supply and distribution in cities and towns throughout southern and central New Hampshire; non-regulated, water-related services and operations; and real estate management and development.

Pennichuck Corporation is traded on the Nasdaq NMS exchange under the symbol “PNNW”.

Pennichuck Corporation
Comparative First Quarter Results