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NUI COMPLETES SALE OF 1.5 MILLION SHARES OF COMMON STOCK

 NUI COMPLETES SALE OF 1.5 MILLION SHARES OF COMMON STOCK
 BEDMINSTER, N.J., May 6 /PRNewswire/ -- NUI Corporation (NYSE: NUI)


reported today that it has completed the sale of 1.5 million shares of common stock at $19.125 per share. The aggregate net proceeds, after underwriting discounts and commissions and the company's offering expenses, were approximately $27.4 million. Following the sale, the company has approximately 7.9 million shares outstanding.
 "Our New Jersey and Florida service areas are experiencing excellent growth in both their customer base and in gas volumes," said John Kean, president and CEO of NUI Corporation. "We were pleased with the high level of interest in this issue, particularly from the residents of our two service areas, demonstrating their enthusiasm about the future of the natural gas distribution business."
 Managing underwriters for the NUI common stock offering were Dillon, Reed & Co., Inc., Smith Barney, Harris Upham & Co., Incorporated, and Dean Witter Reynolds, Inc.
 NUI Corporation, based in Bedminster, is an exempt public utility holding company engaged in the distribution of natural gas to approximately 316,000 customers through its principal operating divisions, Elizabethtown Gas Company in New Jersey and City Gas Company in Florida.
 -0- 5/6/92
 /CONTACT: Alexandra Pruner of NUI, 908-781-7815/
 (NUI) CO: NUI Corporation ST: New Jersey IN: OIL SU:


CK-TS -- NY059 -- 7126 05/06/92 12:49 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 6, 1992
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