Investor Info 1999

For Immediate Release:
January 8, 1999

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

Pennichuck Corporation Announces Dividend for First Quarter of 1999

Maurice L. Arel, President and Chief Executive Officer of Pennichuck Corporation, announced today that the Company’s Board of Directors declared a $.22 per share cash dividend payable on February 15, 1999 to shareholders of record on February 1, 1999. Based on this amount, the indicated annualized dividend is $.88 per share.

Pennichuck Corporation is traded on Nasdaq NMS under the symbol "PNNW."