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E'TOWN CORPORATION WILL ISSUE 500,000 SHARES OF COMMON STOCK

 WESTFIELD, N.J., April 21 /PRNewswire/ -- E'town Corporation (NYSE: ETW) today announced that it will issue 500,000 shares of common stock through Kidder, Peabody & Co. and Edward D. Jones & Co.
 A major portion of the proceeds from the sale will be used to fund a capital contribution to E'town's principal operating subsidiary, Elizabethtown Water Company. The contribution will enable Elizabethtown to reduce its short-term debt previously incurred to fund construction expenditures and to fund future construction. The balance of the proceeds will be used to repay E'town's short-term debt to fund working capital requirements.
 Elizabeth Water Company and its subsidiary, The Mount Holly Water Company serve more than 175,000 customers in 54 municipalities of Burlington, Hunterdon, Mercer, Middlesex, Morris, Ocean, Somerset and Union counties. E'town Corporation common stock is traded on the New York Stock Exchange under the symbol ETW.
 -0- 4/21/93
 /CONTACT: Donna M. Yukob, public relations, 908-654-1234, ext. 235; or Andrew M. Chapman, chief financial officer, 908-654-1234, ext. 218, both of E'Town/
 (ETW)


CO: E'town Corporation ST: New Jersey IN: UTI SU: OFR

AH-WB -- NY110 -- 9003 04/21/93 17:11 EDT
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Publication:PR Newswire
Date:Apr 21, 1993
Words:188
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