Investor Info 1999

For Immediate Release:
Friday, March 5, 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

Maurice L. Arel, President and Chief Executive Officer of Pennichuck Corporation, announced today that the Company's Board of Directors declared a quarterly dividend of $.23 per share payable on May 17, 1999 to shareholders of record as of May 3, 1999. That dividend represents a $.01 per share increase over the previous quarter and $.92 per share on an annualized basis compared to $.79 paid in calendar year 1998. Pennichuck Corporation is traded on the Nasdaq National Market System under the symbol "PNNW".