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ATMOS ENERGY ANNOUNCES AGREEMENT TO ACQUIRE THROUGH MERGER GREELEY GAS COMPANY

 DALLAS, March 25 /PRNewswire/ -- Atmos Energy Corporation (NYSE: ATO) announced today that it has reached an agreement in principle to acquire Greeley Gas Company of Denver, Colo., by means of a merger. Atmos will exchange 2.428 million shares of its stock for all of the outstanding stock of Greeley.
 The transaction is subject to completion of a definitive agreement by the companies and approval by the shareholders of both companies. Approval by appropriate regulatory bodies also will be required.
 Greeley, a privately held company, provides natural gas service to nearly 100,000 customers in 109 towns in Colorado, Kansas and a small service area in Missouri. About 72 percent of the customers are in Colorado, where the company serves the cities of Greeley, Lamar, Canon City, Cortez and several tourist and ski resort areas including Steamboat Springs, Crested Butte, Gunnison and Durango. Greeley also serves the Kaw Valley area in northeastern Kansas, which is a suburb of Kansas City, and a number of towns in Central Kansas.
 "Atmos believes this transaction is consistent with the company's continuing long-term corporate development strategy of increasing the value of the company through external growth. Over the longer term, we expect this combination to add stability and predictability to earnings and cash flow," said Charles K. Vaughan, Atmos chairman and chief executive officer.
 Atmos acquired Trans Louisiana Gas Company in 1986 and Western Kentucky Gas Company in 1987, and has continued to aggressively search for additional natural gas distribution properties.
 Atmos Energy Corporation, based in Dallas, provides natural gas service to more than one-half million customers in Texas, Louisiana and Kentucky through its operating companies -- Energas Company, Trans Louisiana Gas Company and Western Kentucky Gas Company.
 -0- 11/25/93
 /CONTACT: Margaret Watson, 214-450-4050, or Jack Eversull, 214-788-3729, both of Atmos Energy/
 (ATO)


CO: Atmos Energy Corporation ST: Texas IN: OIL SU: TNM

SH -- NY019 -- 9429 03/25/93 09:28 EST
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Publication:PR Newswire
Date:Mar 25, 1993
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