BIW Limited Announces 2nd Quarter Earnings.

ANSONIA, Conn. -- BIW Limited (AMEX: BIW) announced today net earnings of $377,736 or $.23 per share basic for the three months ended June 30, 2005 as compared to $238,742 or $.15 per share basic for the comparable 2004 period. Revenues for the second quarter in 2005 amounted to $2,589,002 as compared to $2,426,300 in 2004. Earnings for the first six months of 2005 amounted to $431,929, $.26 per share basic, as compared to $440,627, $.27 per share basic in 2004.

John S. Tomac, the Company President said, "Second quarter earnings were bolstered with higher water sales for our regulated operations, particularly at our Ansonia division, due to an unusually dry summer period in 2005." He also noted that profits at the Company's non-regulated company, Birmingham H2O Services have also increased in the second quarter of 2005 vs. 2004 and also on a year-to-date basis in 2005 vs. 2004. Tomac noted that BIW Limited had a difficult first quarter in 2005 due to the harsh winter conditions that depressed water sales and the ability for the Company to perform construction activities both regulated and non-regulated. He further noted that strong second quarter earnings have increased year-to-date net earnings to levels almost achieved in 2004 despite having a higher effective tax rate in 2005. Tomac said, "I would expect third quarter earnings to be strong as the dry summer period has continued well into August which should equate to strong water sales. I am optimistic that Birmingham H2O Services will continue to grow both for our construction related services and our contract operations business."

BIW Limited is the parent company of Birmingham Utilities, Inc., a regulated public water service company which collects and distributes water for domestic, commercial and industrial uses and fire protection in Ansonia, Derby and in small parts of the contiguous town of Seymour, Connecticut, and Birmingham Utilities, Eastern Division consisting of 30 regulated water systems located in eastern Connecticut, as well as a non-regulated contract operations business that monitors and services another 51 water systems also in eastern Connecticut, and Rhodes Pump Service business located in Guilford, Connecticut, and Birmingham H2O Services, Inc., which provides water related services to other water utilities, contractors, and individuals throughout Connecticut.

FORWARD-LOOKING STATEMENTS 

Statements included in this new release, which are not historical in nature, are forwarding-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future financial performances of the Company are subject to business conditions and growth in the general economy, weather conditions, regulatory decisions, the impact of competitive products and pricing on the Company's non-regulated operations, failure to obtain new customers or retain old customers or changes in the financial stability of customers, and changes in interest rates. Such statements are based upon the current beliefs and expectations of BIW Limited management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release the terms "anticipate," "believe," "estimate," "expect," "may," "objective," "plan," "possible," "potential," "project," "will" and similar expressions identify forward-looking statements.