NUI Corporation Receives State Regulatory Approvals for the Sale of the Company to AGL Resources.

BEDMINSTER, N.J. -- Final approval from the Securities and Exchange Commission expected in near term

NUI Corporation (NYSE:NUI) today announced it has received the state regulatory approvals necessary for the sale of the company to AGL Resources (NYSE:ATG). Today, the New Jersey Board of Public Utilities approved the sale, while the Maryland Public Service Commission and the Virginia State Corporations Commission granted approval on October 27 and October 29, respectively. In addition, on October 23 the Federal Communications Commission granted approval for the transfer of radio licenses from NUI to AGL Resources following the close of the sale.

The sale now requires final approval from the Securities and Exchange Commission (SEC) under the Public Utilities Holding Company Act. On October 28, NUI and AGL Resources filed an amendment to their application for approval of the sale with the SEC. Under the terms of the Merger Agreement, the sale is required to close within three business days of receipt of all regulatory approvals and the satisfaction of all other closing conditions.

"Today's action is a milestone for NUI because it brings us closer to the culmination of the merger process in the state of our origin, New Jersey," said Craig Matthews, NUI President and Chief Executive Officer. "I am very proud that the quality of safe and reliable service we have always provided our customers was never diminished, both prior to and following our decision to sell the company, and I am equally proud of our employees and their continued and ongoing commitment to our customers. The New Jersey Board of Public Utilities has previously expressed their confidence in the operations of Elizabethtown Gas Company and I am confident that, upon closing of the merger, AGL Resources will continue to provide the excellent operational services our customers deserve and have come to expect."

About NUI

NUI Corporation, based in Bedminster, NJ, is an energy company that operates natural gas utilities and businesses involved in natural gas storage and pipeline activities. NUI Utilities Inc.'s divisions include Elizabethtown Gas in New Jersey, City Gas Company of Florida and Elkton Gas in Maryland. For more information, visit www.nui.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements related to the sale of NUI Corporation. These statements are based on management's current expectations and information currently available and are believed to be reasonable and are made in good faith. However, the forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in the statements. Factors that may make the actual results differ from anticipated results include, but are not limited to, NUI's ability to consummate the sale in the time period anticipated or at all; the ability to obtain the approval of the Securities and Exchange Commission required for the transaction on the terms expected or on the anticipated schedule; those factors set forth in NUI Corporation's Form 10-K, Form 10-Qs and its other filings with the Securities and Exchange Commission; and other uncertainties, all of which are difficult to predict and some of which are beyond NUI Corporation's control. For these reasons, you should not rely on these forward-looking statements when making investment decisions. The words "expect," "believe," "project," "anticipate," "intend," "should," "could," "will," and variations of such words and similar expressions, are intended to identify forward-looking statements. NUI Corporation does not undertake any obligation to update publicly any forward-looking statement, either as a result of new information, future events or otherwise.