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BROOKLYN UNION SHAREHOLDERS APPROVE STOCK SPLIT

 BROOKLYN, N.Y., June 23 /PRNewswire/ -- At a special meeting of shareholders held today, Brooklyn Union Gas (NYSE: BU) announced that shareholders approved a proposal for a three-for-two split of common shares. One additional share of common stock will be issued for every two shares held by shareholders of record on July 6, 1993. The additional shares will be issued early in August. Brooklyn Union last split its common stock in April of 1986, when shareholders approved a two-for-one stock split.
 Executive Vice President and Chief Financial Officer Craig G. Matthews said, "We are pleased that our shareholders have approved the stock split. As we look toward the future, Brooklyn Union will continue to capitalize on the growth opportunities and environmental benefits of natural gas through aggressive marketing in our utility business and strategic investments in energy-related activities. Our strategy has enabled Brooklyn Union to realize a total annual return to investors in excess of 19 percent per year over the past 10 years."
 Brooklyn Union Gas distributes natural gas in the New York City boroughs of Brooklyn and Staten Island and in two-thirds of the borough of Queens, serving the growing energy needs of 4 million residents. Through subsidiary and affiliated companies, Brooklyn Union is involved in oil-and-gas exploration and production in the United States and Canada as well as marketing, cogeneration projects, pipeline transportation, and propane distribution in the United States.
 -0- 6/23/93
 /CONTACT: Jan C. Childress of Brooklyn Union Gas, 718-403-3382/
 (BU)


CO: Brooklyn Union Gas Company ST: New York IN: UTI SU:

SM-LR -- NY014 -- 4980 06/23/93 11:42 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
Words:267
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