Current News

For Immediate Release: April 8, 2008

For More Information, Contact: William D. Patterson, Senior Vice President and Chief Financial Officer

Phone: 603-913-2300

Fax: 603-913-2305

Pennichuck Corporation Announces New Hampshire PUC Approval of 17.19 percent Permanent Rate Increase
Replaces 11.99 percent Temporary Rate Increase In Effect Since May 2007

MERRIMACK, NH (April 8, 2008) - Pennichuck Corporation (Nasdaq: PNNW) today announced that on April 4, 2008, the New Hampshire Public Utilities Commission (the "NHPUC") issued an Order approving the rate settlement in effect between the Company's Pennichuck East Utility, Inc. subsidiary ("Pennichuck East") and the staff of the NHPUC. The Order makes effective an annualized permanent increase in Pennichuck East's revenues of approximately $712,000, or 17.19%, for service rendered on and after May 29, 2007, and replaces an annualized temporary increase of approximately $501,000, or 11.99%, that has been in effect since that same date.

The primary purpose of this rate relief is to allow Pennichuck East to recover the cost of capital improvements made to ensure compliance with the Safe Drinking Water Act and improve water system reliability. Pennichuck East initiated the rate relief proceeding in March 2007 when it requested an overall increase in its rates that would have resulted in an annualized increase in revenues of approximately $864,000, or 20.92%. In August 2007, the NHPUC approved a temporary increase of 11.99% for service rendered on and after May 29, 2007.

Pennichuck Corporation is a holding company involved principally in the supply and distribution of potable water in New Hampshire through its three regulated water utilities. Its non-regulated, water-related activities include operations and maintenance contracts with municipalities and private entities in New Hampshire and Massachusetts. The Company's real estate operations are involved in the ownership, management and commercialization of real estate in southern New Hampshire.

Pennichuck Corporation's common stock trades on the Nasdaq Global Market under the symbol "PNNW." The Company's website is at www.pennichuck.com.

This news release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Pennichuck Corporation. Forward-looking statements are based on current information and expectations available to management at the time the statements are made, and are subject to various factors, risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, the timing and results of eminent domain proceedings before the New Hampshire Public Utilities Commission; the possible impact thereof on business operations and net assets; legislation and/or regulation and accounting factors affecting Pennichuck Corporation's financial condition and results of operations; the availability and cost of capital, including the impact on our borrowing costs of changes in interest rates; and the impact of weather. Investors are encouraged to access Pennichuck Corporation's annual and quarterly periodic reports filed with the Securities and Exchange Commission for financial and business information regarding Pennichuck Corporation, including a more detailed discussion of these and other risks and uncertainties that could affect Pennichuck Corporation's forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements.