SEC Approves Sale of NUI Corporation to AGL Resources; Merger is Scheduled to Close on November 30.

BEDMINSTER, N.J. -- NUI Corporation (NYSE:NUI) announced today that the U.S. Securities and Exchange Commission (SEC) has issued an order approving the sale of NUI to AGL Resources. The SEC order represents the final step in the regulatory approval process for the sale, which has already been approved by state utility commissions in New Jersey, Maryland and Virginia, as well as the Federal Communications Commission. The SEC action clears the way for the sale to close, which the Company anticipates will occur on November 30.

Craig G. Matthews, president and chief executive officer of NUI, said, "The approval of NUI's sale by the SEC clears the last significant hurdle that remained prior to the closing of this transaction. We have finally come to the end of a long journey which began in September 2003 with our Board of Directors' decision to sell the Company. As AGL Resources recognized in its application for approval of the sale to the SEC, NUI Utilities is a fundamentally sound public utility company. The fact that NUI Utilities has continued to provide safe and reliable service to its customers through a very difficult time is directly related to its dedicated employees of whom I'm quite proud."

Under the terms of the sale, AGL Resources will pay NUI's shareholders of record $13.70 in cash for each share of NUI common stock they own.

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' divisions include Elizabethtown Gas in New Jersey, City Gas Company of Florida and Elkton Gas in Maryland. For more information, visit www.nui.com.

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; 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.