Philadelphia Suburban Subsidiary Purchases Monroe Manor Water Company

August 6, 2002
Philadelphia Suburban Subsidiary Purchases Monroe Manor Water CompanyBRYN MAWR, Pa., Aug 6, 2002 (BUSINESS WIRE) -- Philadelphia Suburban Corporation's (NYSE:PSC) has further expanded its utility operations in Northeastern Pennsylvania with the acquisition of Monroe Manor Water Company, a private utility serving nearly 840 residents in Monroe Township, Snyder County in a merger transaction valued at $1.2 million.

The system will be operated by PSC's Consumers Pennsylvania offices in Shamokin, Pennsylvania. This acquisition follows within one week of the acquisition of the nearby system known as Rolling Green.

PSC Chairman Nicholas DeBenedictis said, "We look forward to bringing our water quality expertise to an increasing number of Pennsylvania residents. With this, our seventh growth venture in this area, we continue our commitment to development in Central and Northeastern Pennsylvania."

PSC and its operating subsidiaries have announced 14 growth ventures this year. The other six that include water systems in Northeastern Pennsylvania include: 

    1.  February 2002 - Pennsylvania Suburban Water Company purchased
        the water system assets of Citizens Water Company of
        Wapwallopen, which serves approximately 180 residents in
        Conygham Township, Luzerne County.
    2.  March 2002 -Consumers Pennsylvania Water Company subsidiary
        purchased the water and wastewater system assets of the White
        Haven Municipal Authority, serving nearly 3,000 residents in
        Luzerne and Carbon counties.
    3.  April 2002 - PSC's Suburban Environmental Services (SES)
        subsidiary entered into a one-year contract with Foster
        Township, Luzerne County, to provide operations and
        maintenance services for the Hickory Hills wastewater
        collection and treatment facilities (approximately 850
        residents) and the Ag-Mar Village Estates wastewater
        collection and treatment facilities (approximately 300
        residents).
    4.  May 2002 - Consumers Pennsylvania Water Company (CWC)
        purchased the water system assets of the Schickshinny Lake
        Property Owner's Association, which serves 350 residents in
        Union Township, Luzerne County. CWC had been operating the
        system since September 2001 under an operations and management
        agreement.
    5.  June 2002 - Pennsylvania Suburban Water Company acquired
        National Utilities, Inc., a private utility serving nearly
        9,000 residents in Lackawanna, Luzerne, Monroe, Susquehanna
        and Wyoming counties.
    6.  July 2002 - PSC acquired the Rolling Green water system that
        serves 1,300 customers in Monroe Township, Snyder County.
PSC is the holding company for regulated public utilities that provide water and wastewater services to approximately two million residents in Pennsylvania, Ohio, Illinois, New Jersey, Maine, and North Carolina.

CONTACT: Philadelphia Suburban Corporation Donna Alston, 610/645-1095 alstond@suburbanwater.com or Joanna Vishio, 610/645-4213 vishioj@suburbanwater.com

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