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E'TOWN REPORTS SALES AND EARNINGS

 E'TOWN REPORTS SALES AND EARNINGS
 WESTFIELD, N.J., July 16 /PRNewswire/ -- E'Town Corporation


(NYSE: ETW) today reported net income of $2,569,527 or $.55 per share on a primary basis and $.54 per share on a fully diluted basis for the three months ended June 30, 1992. In the comparable 1991 period net income was $2,776,430 or $.67 per share on a primary basis and $.66 per share on a fully diluted basis.
 For the six months ended June 30, 1992, net income was $4,536,783 or $1.02 per share on a primary basis and $1.01 per share on a fully diluted basis. In the comparable 1991 period net income was $4,706,176 or $1.18 per share on a primary basis and $1.16 per share on a fully diluted basis.
 Net income for the 12 months ended June 30, 1992, was $9,315,677 or $2.17 per share on a primary basis and $2.14 per share on a fully diluted basis. In the comparable 1991 period net income was $7,890,919 or $2.09 per share on a primary basis and $2.06 per share on a fully diluted basis.
 Operating revenues for the three months, six months and 12 months ended June 30, 1992, were $22,422,795, $43,225,583 and $86,985,410, respectively, compared to $22,340,162, $42,326,276 and $82,501,540 for the same periods in 1991.
 The board of directors also declared a regular third quarter dividend of $.50 per share on common stock, payable Sept. 30, 1992, to stockholders of record on Sept. 16, 1992.
 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
 Periods ended Three Months Six Months
 June 30 1992 1991 1992 1991
 Operating revenues $22,422,795 $22,340,162 $43,225,583 $42,326,276
 Net income $ 2,569,527 $ 2,776,430 $ 4,536,783 $ 4,706,176
 Earnings per share
 of common stock:
 Primary $.55 $.67 $1.02 $1.18
 Fully diluted $.54 $.66 $1.01 $1.16
 Average number of
 shares outstanding
 for the calculation
 of earns. per share:
 Primary 4,656,414 4,130,130 4,430,127 3,992,100
 Fully diluted 4,980,608 4,464,501 4,755,838 4,327,553
 Twelve months ended June 30 1992 1991
 Operating revenues $86,985,410 $82,501,540
 Net income $ 9,315,677 $ 7,890,919
 Earnings per share of common stock:
 Primary $2.17 $2.09
 Fully diluted $2.14 $2.06
 Average number of shares outstanding for
 the calculation of earnings per share:
 Primary 4,297,734 3,777,902
 Fully diluted 4,625,957 4,117,014
 -0- 7/16/92
 /CONTACT: Andrew M. Chapaman of E'Town, 908-654-1234/
 (ETW) CO: E'town Corporation ST: New Jersey IN: UTI SU: ERN DIV


GK-TQ -- NY077 -- 9842 07/16/92 14:19 EDT
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Date:Jul 16, 1992
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