ISELIN, NJ -- (MARKET WIRE) -- 07/01/08 -- Middlesex Water Company (NASDAQ: MSEX) todayannounced it has been added to the broad-market Russell 3000® Index afterthe Russell Investment Group reconstituted its comprehensive set of U.S.and global equity indexes on June 27, 2008. The Russell 3000 Index measuresthe performance of the largest 3,000 U.S. Companies representingapproximately 98% of the investable U.S. equity market. Russell indexesare widely used by investment managers and institutional investors for bothindex funds and as benchmarks for passive and active investment strategies.Russell Investments realigns the Russell 3000 Index once per year andcaptures the 3,000 largest U.S. stocks as of the end of May, ranking themby total market capitalization. The Russell 3000 Index is comprised of theRussell 1000 and Russell 2000 indices. The largest 1,000 companies in thisranking comprise the Russell 1000 of large capitalization stocks and thenext 2,000 companies become the Russell 2000 index of small capitalizationstocks. Middlesex Water was one of three companies in the utilities sectorthat were added to the Russell 2000.
"The selection of Middlesex Water Company as part of the Russell 3000®Index represents another significant accomplishment in our efforts tocontinually improve shareholder value," said Middlesex Water CompanyPresident and CEO Dennis. W. Doll. "Inclusion in this well-respected Indexis recognition of our achievements, growth and strengthened market positionin our industry and provides further momentum for delivering value for ourcustomers, our employees, and our shareholders," added Doll.
About Middlesex Water Company
Middlesex Water Company, (NASDAQ: MSEX) established in 1897, provides afull range of regulated and non-regulated water, wastewater utility andrelated services in parts of New Jersey and Delaware. The Company has ninesubsidiaries through which it designs, builds, manages, owns and operateswater and wastewater assets, conducts municipal contract operations andpublic/private partnerships and provides water and sewer line maintenanceservices. Middlesex Water and its subsidiaries have more than 125,000customers and serve a population of over 400,000.
For additional information regarding Middlesex Water Company, visit theCompany's Web site at www.middlesexwater.com or call (732) 634-1500.
This release contains forward looking statements within the meaning of thePrivate Securities Litigation Reform Act of 1995, including, among others,our long-term strategy and expectations, the status of our acquisitionprogram, the impact of our acquisitions, the impact of current andprojected rate requests and the impact of our capital program on ourenvironmental compliance. There are important factors that could causeactual results to differ materially from those expressed or implied by suchforward-looking statements including: general economic business conditions,unfavorable weather conditions, the success of certain cost containmentinitiatives, changes in regulations or regulatory treatment, availabilityand the cost of capital, the success of growth initiatives and otherfactors discussed in our filings with the Securities and ExchangeCommission.
Contact:
Bernadette Sohler
Vice President - Corporate Affairs
Middlesex Water Company
1500 Ronson Road
Iselin, New Jersey 08830
www.middlesexwater.com