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Current News For Immediate Release: February 15, 2005 For
More Information, Contact: Donald L. Correll, President and CEO, Pennichuck
Corporation Pennichuck
Corporation Finds Answer to Citizen Concerns Merrimack, NH (NASDAQ: PNNW) - After fielding hundreds of customer requests to help them put an end to the costly eminent domain dispute between the city of Nashua and Pennichuck Corporation, the company has helped organize a Web site for residents to voice their concerns. The eminent domain battle with the city of Nashua trying to seize control of the water utilities operated by Pennichuck Corporation is now in its fourth calendar year. The dispute could last several years longer and has prompted citizens to organize in a non-partisan group called SmartWater. At www.smartwater.org, taxpayers like Geri Boisvert can speak out against what they see as an effort that is wasting millions of tax dollars and wrongly trying to force out a high-quality water system manager. "Pennichuck does a very good job with what they do. I have never been one who has been comfortable with government entities running businesses," writes Boisvert on the site. Nashua resident Greg Clukey writes to the site: "I believe the money the city is spending on the Pennichuck battle could be put to better use in lots of ways, like fixing our roads." Pennichuck Corporation is grateful for the support of its water customers and pleased to know the quality and reliability of service it provides are important enough for residents to speak out about the hostile takeover attempt. "Our customers know they can count on our water system," says Don Correll, President and CEO of Pennichuck Corporation. "Managing nearly a hundred other facilities provides us with the expertise and staff needed to keep our system serving the city of Nashua in line with stringent and complex environmental regulations. We also have the ability to create and maintain an efficient system that saves taxpayers money long-term." Though Pennichuck Corporation is willing to host and update the Web site, both SmartWater and its site are run by concerned citizens and organizations. Company officials are sending the clear message that water customers are in no way funding this effort. The costs are instead being covered by the shareholders of Pennichuck. Residents interested in joining SmartWater should visit www.smartwater.org. The Web site protects the identity of each member unless members choose to allow their names to be used in support of the group and its goals. Pennichuck Corporation is a holding company located in Merrimack, New Hampshire with three wholly owned operating subsidiaries involved in regulated water supply and distribution throughout southern and central New Hampshire; non-regulated, water-related services conducted through Pennichuck Water Service Company; and real estate investment and development activities conducted through The Southwood Corporation. Pennichuck
Corporation is traded on the NASDAQ Stock Market under the symbol "PNNW." # # #
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