Unitil Corporation Set to Join Russell 3000 Index
Hampton, NH - June 15, 2009 - Unitil Corporation (NYSE:UTL) (www.unitil.com) is set to join the broad-market Russell 3000 Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 26, according to a preliminary list of additions posted June 12 on www.russell.com.
"We are pleased that we have been listed to join the Russell 3000," said Robert G. Schoenberger, Unitil's Chairman and Chief Executive Officer. "Membership in the Russell 3000 and the small cap Russell 2000 Index will continue to increase both the visibility and the liquidity in our stock."
Membership in the Russell 3000, which remains in place for one year, means Unitil Corporation will be automatically included in the small-cap Russell 2000 as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to them. Total returns data for the Russell 3000 and other Russell indexes is available at www.russell.com/Indexes/performance/default.asp.
Unitil is a public utility holding company with subsidiaries providing electric and natural gas distribution service in New Hampshire and Massachusetts, natural gas distribution service in Maine and energy services throughout the northeast. Unitil serves approximately 170,000 utility customers in three states. Its utility affiliates include Unitil Energy Systems, Inc., Fitchburg Gas and Electric Light Company, Northern Utilities, Inc. and Granite State Gas Transmission, Inc. Its other subsidiaries include Unitil Service Corp. and its non-regulated business segment doing business as Usource.
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has $136 billion in assets under management as of March 31, 2009, and serves individual, institutional and advisor clients in more than 40 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.
Forward Looking Statements:
This press release contains forward-looking statements, which are subject to the inherent risks and uncertainties in predicting future results and conditions. All statements, other than statements of historical fact, are forward-looking statements. Certain factors that could cause the actual results to differ materially from those projected in these forward-looking statements include, but are not limited to the following: our ability to integrate the business, operations, and personnel of Northern Utilities and Granite State and to achieve the estimated potential synergy savings attributable to our acquisition of those entities; our ability to retain existing customers and gain new customers; variations in weather; major storms; changes in the regulatory environment; interest rate fluctuation and credit market concerns; customers' preferences on energy sources; general economic conditions; increased competition; fluctuations in supply, demand, transmission capacity and prices for energy commodities; and customers' performance under multi-year energy brokering contracts, all of which are difficult to predict, and many of which are beyond the control of Unitil Corporation.
For more information, visit Unitil at www.unitil.com or call Mark Collin at 603-773-6612.
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