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CONNECTICUT NATURAL GAS CORPORATION ANNOUNCES FISCAL YEAR 1991 EARNINGS

              CONNECTICUT NATURAL GAS CORPORATION ANNOUNCES FISCAL
                              YEAR 1991 EARNINGS
    HARTFORD, Conn., Nov. 21 /PRNewswire/ -- Connecticut Natural Gas Corporation (NYSE: CTG) today reported consolidated net income for the fiscal year ending Sept. 30, 1991 of $14,569,000, compared to $13,615,000 in fiscal year 1990.
    The consolidated earnings per share were $1.71 in 1991, compared to $1.63 in 1990.  Earnings per share for 1991 include a $.21 per share nonrecurring credit resulting from a change in the company's method of accounting for municipal property taxes.
    Victor H. Frauenhofer, chairman, president and chief executive officer said, "We are pleased with our results during this challenging year when the company's service territory experienced the warmest since 1938, which reduced earnings by $.24 a share.  Stringent cost containment, aggressive marketing efforts and increases in sales to interruptible customers helped to offset weather-related losses. Earnings also included a one time contribution resulting from the sale of assets related to discontinued operations."
    Connecticut Natural Gas Corporation currently serves approximately 140,000 customers in 22 municipalities in the Greater Hartford/New Britain areas and Greenwich.
                  CONNECTICUT NATURAL GAS CORPORATION
              (Dollars in thousands except per share data)
    Period ended                      12 months           Three months
     Sept. 30                       1991     1990        1991       1990
    Consolidated gross revenues
    from continuing operations    214,055   232,726      26,069  29,153
    Consolidated net income (loss)
     Continuing operations         12,343    13,569   (3,516)    (2,726)
     Discontinued operations           --      (328)      --         --
     Net gain on disposal of assets   517       446       --        446
     Change in method of accounting
     for municipal property taxes   1,779        --       --         --
    Consolidated net income (loss) 14,639    13,687   (3,516)    (2,280)
    Balance available for common
     stock                         14,569    13,615   (3,534)    (2,298)
    Consolidated net income (loss)
     per common share
     Continuing operations          $1.44     $1.61    $(.41)     $(.32)
     Discontinued operations           --      (.03)      --         --
     Net gain on disposal of assets   .06       .05       --        .05
     Change in method of accounting
     for municipal property taxes     .21        --       --         --
    Total                           $1.71     $1.63    $(.41)     $(.27)
    Average common shares
     outstanding                8,516,632 8,363,606 8,559,759 8,442,089
    Dividends per common share       1.40      1.36       .35       .34
    -0-        11/21/91
    /CONTACT:  Mary M. Hart, 203-727-3155, or Maura M. Kearns, 203-727-3142, of Connecticut Natural Gas Corporation/
    (CTG) CO:  Connecticut Natural Gas Corporation ST:  Connecticut IN:  OIL SU:  ERN SM-KW -- NY101 -- 6112 11/21/91 17:25 EST
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Publication:PR Newswire
Date:Nov 21, 1991
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