Unitil President to Retire
Hampton, NH - December 19, 2002 - Unitil Corporation (AMEX:UTL) today announced that Michael J. Dalton, President and Chief Operating Officer, plans to retire on April 1, 2003.
Mr. Dalton began his Unitil career 35 years ago as an Engineer with Exeter & Hampton Electric Company (E&H) and became its President in 1978. He was instrumental in the merger of Concord Electric Company (CECo) and E&H and the creation of Unitil Corporation in 1984, and has been Unitil's President since that time. Mr. Dalton is currently a member of the Company's Board of Directors, a position which he will continue to hold after his retirement.
"Mike has been an integral part of Unitil's long term successes and a prime factor behind Unitil's great record in controlling operating costs," said Unitil CEO Bob Schoenberger. "Under his leadership, Unitil has achieved an exemplary record of improving service to customers while maintaining distribution operating costs among the lowest in the industry, a record we intend to continue."
Mr. Thomas P. Meissner, Jr. will become Senior Vice President for Engineering and Distribution Operations for Unitil effective February 1, 2003, in anticipation of Mr. Dalton's retirement. Mr. Meissner has been with Unitil for eight years and is currently Director of Engineering.
Unitil 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 Northeast. Its subsidiaries include, Fitchburg Gas and Electric Light Company, Unitil Energy Systems, Inc., Unitil Power Corp., Unitil Realty Corp., Unitil Service Corp. and its unregulated business unit Unitil Resources, Inc. Usource L.L.C. is a subsidiary of Unitil Resources, Inc. The Usource product line of Internet-based energy brokering and related products and services is available at www.usourceonline.com.
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Hampton, NH 03842-1720