Corporate Profile for Eastern Utilities Associates, dated August 7, 1998.

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Published Date:   August 7, 1998

Company Name:     Eastern Utilities Associates

Address:          One Liberty Square
                  Post Office Box 2333
                  Boston, MA 02107-2333

Main Telephone
 Number:          [phone]

Internet Home
 Page Address
  (URL)           http://www.eua.com

Chairman and
 Chief Executive
 Officer:         Donald G. Pardus

Treasurer:        Clifford J. Hebert, Jr.

Investor Relations
 Contact:         Clifford J. Hebert, Jr., or Donald T. Sena
 Business number: [phone]

Public Relations
 Contact:         Frederick Mason III
 Business number: [phone] ext. 3662

Trading Symbol/
 Exchange:        EUA : New York and Pacific Stock Exchanges

Industry:         Electric utility/energy services

Company description: Eastern Utilities Associates (NYSE and PSE: EUA) is a diversified energy services company which seeks to provide energy and related services at competitive prices and maintain a service level above its competitors. Core business subsidiaries are electric utilities operating in Massachusetts and Rhode Island, states at the forefront of the move to a competitive electric industry.

EUA's retail electric utilities -- Eastern Edison in Massachusetts and Blackstone Valley Electric and Newport Electric in Rhode Island -- are playing an active role in the restructuring of the utility industry. Negotiated settlement agreements with officials of both states and at the federal level enable EUA to recover 100% of its otherwise stranded investment in the equipment necessary to provide universal electric service under the prior regulatory compact.

Our wholesale electric generating and transmission utility -- Montaup Electric -- is in the process of divesting its portfolio of generation assets, including nuclear.

EUA's diversification into a range of energy-related businesses offers superior growth potential and should provide an increasing percentage of EUA System earnings as the era of competitive electric suppliers evolves.

EUA Cogenex, the most active of our energy-related businesses, is one of the largest energy management firms in the country; EUA Ocean State is a partner in the Ocean State Power project; EUA Energy Investment makes investments in energy-related businesses.

1997 consolidated earnings of $37.9 million came on operating revenues of $568.5 million.

More information about EUA is available on the World Wide Web at http://www.eua.com

Questions: Phone David Jacobs, Eastern Utilities Associates

West Bridgewater, Massachusetts:

[phone] ext. 3655.

CONTACT: Eastern Utilities Associates, Boston

Clifford J. Hebert, Jr., 617/357-9590