New Jersey Natural Gas Company Announces Economic Development Award Winners in Monmouth and Ocean Counties.

Energy Editors/Business Editors

WALL, N.J.--(BUSINESS WIRE)--Oct. 3, 2003

New Jersey Natural Gas Company (NJNG), the principal subsidiary of New Jersey Resources Corporation (NYSE: NJR), recently announced the Company's 2003 Economic Development Award winners in Monmouth and Ocean counties. NJNG's award program honors businesses that have demonstrated a positive impact in communities targeted for economic development in the Company's service area.

Bayside Manor in Keansburg was selected as the winner in Monmouth County. The Ocean County winner is Crazy Joe's Furniture, which has showrooms in Howell and Brick and a new warehouse facility in Lakewood Township. The awards were presented at a luncheon hosted by the Monmouth-Ocean Development Council (MODC) in West Long Branch on September 26.

"New Jersey Natural Gas Company recognizes the importance of successful businesses in building strong communities," said Laurence M. Downes, chairman and CEO of NJNG. "We applaud our award winners for their growing businesses and contribution to the quality of life in areas targeted for economic development," Mr. Downes said.

Bayside Manor is a family owned and operated assisted-living senior residence overlooking the Raritan Bay in Keansburg. Since opening in 1997, the facility has expanded significantly with the addition of new amenities and services. When a final phase of expansion is complete, Bayside Manor will occupy a total of 83,000 square feet, with room for 134 residents.

Founded in 1978 as a small storefront in Perth Amboy, Crazy Joe's Furniture has grown to 75,000 square feet of showroom and warehouse space in Monmouth and Ocean counties. In 2001, the family-run business doubled their warehouse operations with a 25,000-square-foot state-of-the-art facility in Lakewood.

NJNG provides support for the two award recipients through a program that gives eligible businesses a savings on their monthly gas bills. The Company's Economic Development Program offers a discount on natural gas as an incentive to attract new businesses, help existing businesses expand and stimulate job growth in areas identified for economic development. Since its inception in 1993, the program has assisted more than 200 businesses, accounting for over 2,900 new jobs in urban communities.

New Jersey Natural Gas Company (NJNG) is the principal subsidiary of New Jersey Resources Corporation (NYSE: NJR), a Fortune 1000 company and a member of the Forbes Platinum 400. NJNG is one of the fastest-growing local distribution companies in the United States, serving nearly 450,000 customers in New Jersey's Monmouth, Ocean, Middlesex and Morris counties. This service area's demographics and quality of life contribute greatly to the Company's growth. NJNG is the lowest-cost provider of natural gas in the state. The Company was recently recognized by the American Gas Association for Best Practices in Routine Leak Repair. NJNG's progress is a tribute to the dedicated employees who have shared their expertise and focus on quality through more than 50 years of serving customers and the community to make the Company a leader in the competitive energy marketplace. More information about NJNG can be found on our Web site at njliving.com.