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E'TOWN SELLS 260 ACRES TO SOMERSET COUNTY PARK COMMISSION

 WESTFIELD, N.J., Aug. 24 /PRNewswire/ -- E'town Corporation (NYSE: ETW) announced today that it has sold 260 acres of land currently owned by E'town Corporation and its subsidiaries, E'town Properties and Elizabethtown Water Company, to the Somerset County Park Commission. The price for the properties was $3.45 million.
 E'town expects the sale to produce an after-tax gain of about $1.1 million in the third quarter. The cash generated by the sale will reduce the company's equity financing needs going forward.
 The three separate properties in Bridgewater and Hillsborough townships will become additions to several existing county parks. The Watchung Mountain park will add nearly 145 acres, while Duke Island Park and the Sourland Mountain Preserve will add 67 and 48 acres, respectively.
 Elizabethtown Water Company and its subsidiary, The Mount Holly Water Company, serve nearly 184,000 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- 8/24/93
 /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:

MP-SM -- NY065 -- 5597 08/24/93 16:55 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
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