Investor Info 1999

For Immediate Release:
Friday, October 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

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 $.24 per share payable on November 15, 1999 to shareholders of record as of November 1, 1999. That dividend is a $.01 per share increase over the previous quarter, resulting in an annualized dividend rate of $.96 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".