Investor Info 1999

For Immediate Release:
Thursday, June 10, 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 August 16, 1999 to shareholders of record as of August 2, 1999. That dividend remains unchanged from the previous quarter and on an annualized basis, the Company's dividend rate for 1999 is $.92 per share.

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 and real estate development and management. Pennichuck is traded on the Nasdaq National Market System under the symbol "PNNW".