Former New Jersey Resources Chairman and CEO James T. Dolan Passes Away.

Business Editors

WALL, N.J.--(BUSINESS WIRE)--Sept. 17, 2001

It is with great sadness that New Jersey Resources Corporation notes the passing of its former chairman and CEO, James T. Dolan Jr., on September 14, 2001.

Mr. Dolan joined New Jersey Natural Gas Company in 1962 as personnel director and held several managerial and executive positions until his appointment as president and CEO in 1978. He was instrumental in the formation of NJNG's holding company, New Jersey Resources Corporation, and became its first president and CEO in 1982. Five years later, he was named chairman and CEO of NJR.

"Jim Dolan showed tremendous leadership during a time of great change in our Company and in our industry," said Laurence M. Downes, chairman and CEO of NJR. "His vision and foresight helped to guide our Company's transition from a relatively small gas utility to one of the fastest growing local distribution companies in the nation."

"On behalf of both our current and retired employees, I extend my deepest sympathy to Jim's family and gratitude for all he did for our Company," Mr. Downes added.

Under Mr. Dolan's leadership, NJNG was among the first companies to secure natural gas supplies from Canada, which have played a critical role in the Company's ability to meet the needs of a steadily growing customer base. In the mid-1980's, he galvanized the support of employees, customers and shareowners to thwart a hostile takeover attempt by a neighboring utility, allowing the company to remain independent. From 1987 to 1988, Mr. Dolan served as chairman of the American Gas Association, a national trade organization of nearly more than 250 pipeline and gas distribution companies.

During his tenure, NJNG pioneered such customer-oriented innovations as consumer roundtables, and executive-consumer dialogues. Mr. Dolan also established the Company's foundation for charitable donations. Under his guidance, the Company's community outreach programs received national recognition. He also had a strong commitment to education and was responsible for the creation of NJNG's Project Venture program which pairs employee mentors with elementary school students from the Asbury Park school system.

Mr. Dolan retired as Chairman in 1992, and he remained a Board member until 1993. He was active in a variety of charitable, community and civic organizations. He served as chairman of the Irish Youth Fund, and was named one of the "Top 100 Irish-Americans of 1991" by Irish America magazine.

A native of New York City and a graduate of Manhattan College, Mr. Dolan was a long-time resident of Monmouth County. He is survived by his wife, Hilda, and his daughter, Marian.

In lieu of flowers, Mr. Dolan's family has requested that donations be made to the Guadalupe Center, Box 1053, Immokalee, Florida 34143; or Sisters Academy, C/O Sister Carol A. Henry RSM, 1106 Main Street, Asbury Park, NJ 07712.

New Jersey Resources Corporation (NYSE: NJR) provides retail and wholesale energy services to customers in New Jersey and in states from the Gulf Coast to New England. Its principal subsidiary, New Jersey Natural Gas Company (NJNG), is one of the fastest-growing local distribution companies in the United States, serving more than 420,000 customers in New Jersey's Monmouth and Ocean counties and parts of Morris and Middlesex counties. NJNG maintains an underground pipeline system of approximately 6,000 miles and has added an average of 12,000 new customers annually for the past six consecutive years. NJNG is also a leader in the off-system sales and capacity release markets. Other major operating subsidiaries of NJR include NJR Energy Services and NJR Home Services. For more information about the NJR family of companies, visit www.njliving.com.