Bangor Hydro Holds 1999 Annual Meeting.

BANGOR, Maine--(BUSINESS WIRE)--May 19, 1999--

The annual meeting of the stockholders of Bangor Hydro-Electric Company (NYSE:BGR) was held on Wednesday, May 19, 1999, at Pilot's Grill in Bangor, Maine. About 85 percent of the Company's stockholders were represented through proxies or by attendance at the meeting.

The stockholders re-elected three incumbent directors to three-year terms expiring in 2000. Re-elected as directors were Marion M. Kane, President of the Maine Community Foundation; Norman A. Ledwin, President and Chief Executive Officer of Eastern Maine Healthcare; and James E. Rier, Jr., President of Rier Motors.

Other directors of the Company are Robert S. Briggs, Chairman of the Board, President and Chief Executive Officer of Bangor Hydro; William C. Bullock, Jr., Chairman of the Board and Director of Merrill Merchants Bank; Jane J. Bush, Vice President and co-owner of Coastal Ventures; David M. Carlisle, President, Prentiss & Carlisle Company; and Joseph Cyr, President of John T. Cyr & Sons, Inc.; and Carroll R. Lee, Bangor Hydro's Senior Vice President and Chief Operating Officer.

In addition to the election of directors, stockholders received a report from management as to the Company's performance and engaged in a question and discussion session.

Bangor Hydro is an electric utility serving a population of about 192,000 in an area encompassing 5,275 square miles in eastern and east coastal Maine. Bangor Hydro is a member of the New England Power Pool and is interconnected with other New England utilities to the south and with the New Brunswick Power Corporation to the north.