PENNICHUCK SHAREHOLDERS DEMONSTRATE SUPPORT
Annual Meeting Turnout Largest in 10 Years

NASHUA, N.H. - The shareholders of Pennichuck Corporation (NASDAQ: PNNW) demonstrated overwhelming support for the company's direction at their annual meeting Friday.

More than 86 percent of shareholders participated in the meeting either in person or by proxy, the largest turnout for the annual meeting in at least 10 years. Of those shareholders, in excess of 94 percent approved the slate of six people who were up for election to the board of directors, and the naming of PriceWaterhouseCoopers to perform the company's 2004 audit. About 2,800 individual investors currently own shares in Pennichuck.

"I am very gratified by the turnout and with the continued interest and support of our shareholders," said Donald L. Correll, president and chief executive officer, who outlined recent actions by the city of Nashua in its attempt to take the company's assets by eminent domain, and explained Pennichuck's series of responses.

Charles J. Staab, vice president, treasurer and chief financial officer, presented the financial results for fiscal year 2003. Following the shareholder meeting, the board of directors declared a dividend of 21.5 cents for the second quarter of 2004.

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About Pennichuck Corporation
Pennichuck Corporation is a holding company located in Nashua, New Hampshire with three wholly owned operating subsidiaries involved in regulated water supply and distribution in Nashua and towns throughout southern and central New Hampshire; non-regulated, water-related services conducted through Pennichuck Water Service Company; and real estate management and development activities conducted through The Southwood Corporation.

Pennichuck Corporation is traded on the NASDAQ Stock Market under the symbol "PNNW." More information about Pennichuck is available at www.pennichuck.com.