FORTY-SEVENTH IN A SERIES


A MESSAGE OF THANKS

Thank You —

This Thanksgiving, we want to express our gratitude for the dedication and loyalty of our employees and the ongoing support we continue to receive from our customers and shareholders, who believe in our ability to deliver quality water and reliable services.

We are also grateful for the election of some new faces to the Nashua Board of Aldermen. We believe they will help to establish an open dialogue so that we can finally come to a fair resolution of the ongoing eminent domain battle between the city of Nashua and Pennichuck. We will keep you informed as this process continues.

Our heartfelt wishes go out to you for a Happy Thanksgiving and a peaceful and healthy holiday season. We look forward to serving you in the years ahead.

Pennichuck Corporation
New Hampshire’s Oldest Continuously Operating Business
November 20, 2005