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E'TOWN REPORTS SALES AND EARNINGS

 E'TOWN REPORTS SALES AND EARNINGS
 WESTFIELD, N.J., Feb. 20 /PRNewswire/ -- E'town Corporation


(NASDAQ: EWAT) today reported net income of $9,485,070 or $2.32 per share on a primary basis and $2.28 per share on a fully diluted basis for the 12 months ended Dec. 31, 1991. In the comparable 1990 period net income was $6,139,327 or $1.73 per share on both a primary and fully diluted basis.
 E'town Corporation declared its first quarter common stock dividend of $.50 per share, payable on March 31, 1992, to holders of record on March 19.
 E'town Corporation is the parent company of Elizabethtown Water Company and E'town Properties, Inc. Elizabethtown Water Company and its subsidiary, the Mount Holly Water Company, provide water service to 54 municipalities in eight New Jersey counties.
 E'TOWN CORPORATION
 Twelve months ended Dec. 31 1991 1990
 Operating revenues $86,086,103 $78,114,948
 Net income 9,485,070 6,139,327
 Earnings per share of
 common stock(A):
 Primary $2.32 $1.73
 Fully diluted 2.28 1.73
 Average number of shares
 outstanding for the
 calculation of earnings
 per share(A):
 Primary 4,080,118 3,547,328
 Fully diluted 4,413,178 3,547,328
 (A) -- All shares and per-share amounts have been restated to reflect the 3-for-2 stock split effective Jan. 18, 1991.
 -0- 2/20/92
 /CONTACT: Andrew Chapman of E'town, 908-654-1234/
 (EWAT) CO: E'town Corporation ST: New Jersey IN: UTI SU: ERN


CK-OS -- NY053 -- 0957 02/20/92 13:08 EST
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Publication:PR Newswire
Date:Feb 20, 1992
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