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Unitil Declares Common Stock Dividend

HAMPTON, NH; January 19, 1999 — Unitil Corporation (AMEX:UTL) today announced that its Board of Directors approved a 1.5% increase to the dividend rate on its common stock. The new quarterly dividend rate of $0.345 per share, up from $0.34 per share, is payable on February 15, 1999, to shareholders of record on February 1, 1999. This new quarterly dividend reflects an increase in the effective annual dividend rate from $1.36 to $1.38.

Chairman and Chief Executive Officer Robert G. Schoenberger said, "This dividend increase reflects our sound financial foundation as well as our confidence that we will continue to build on this foundation to deliver increasing value to our shareholders and to our customers. We are well positioned to excel at what we do best - the distribution of electricity and natural gas and the buying and selling of electricity and gas. Our goal is to provide customers in and out of our service territories with simple, no hassle solutions to their energy needs."

Unitil Corporation (AMEX:UTL) is a public utility holding company with subsidiaries providing electric service in New Hampshire, electric and gas service in Massachusetts and energy services throughout the region. Its subsidiaries are Concord Electric Company, Exeter & Hampton Electric Company, Fitchburg Gas and Electric Light Company, Unitil Power Corp., Unitil Realty Corp., Unitil Resources, Inc. and Unitil Service Corp.

Contact
Mark Collin
collin@unitil.com

Corporate Office
Liberty Lane West
Hampton, NH 03842-1720
800/999-6501