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NUI CORPORATION HOLDS ANNUAL MEETING; COMMEMORATION OF 100 YEARS OF DIVIDEND PAYMENTS; OFFER STOCK PURCHASE PLAN TO N.J. & FLA. RESIDENTS

 BEDMINISTER, N.J., March 9 /PRNewswire/ -- NUI Corporation (NYSE: NUI) hosted its 139th annual meeting of shareholders today at the company's Elizabethtown Gas Company headquarters in Union, N.J. The annual meeting marked the one-hundredth anniversary of continuous dividend payments by NUI Corporation.
 During the formal presentation of the annual meeting, John Kean, president and chief executive officer of NUI Corporation, announced the company's plan to offer a stock purchase plan to the company's residential customers and residents of New Jersey and Florida, states served by NUI Corporation's Elizabethtown Gas Company and City Gas Company of Florida divisions. While details on the plan are not year finalized, Mr. Kean noted that it will offer the company's customers an opportunity to invest directly in NUI Corporation and their local utilities. The planned offering will be made only by means of a prospectus.
 In recognition of the one hundredth anniversary of continuous dividend payments, shareholders who offered their own prediction for the year 2093, received a complimentary copy of "Then, Today," a compilation of essays from the 1890's predicting today's world. In his remarks to shareholders, Mr. Kean offered his own vision of the year 2093 as, "A time when natural gas will be the sole energy source for our homes. It will be used to power our automobile, to heat and cool our homes and for cooking, water heating and, even electricity, will be provided by a gas- powered fuel cell."
 John Kean, Jr., the company's chief financial officer and executive vice president, discussed the company's financial results, which increased considerably over year-ago levels. "These results clearly reflect that we are on target with the plan we presented to you two years ago, and you are beginning to see the impact of the work we have completed so far," he noted.
 During the review of operations by Bob Kenney, president of Elizabethtown Gas Company, and Jack Langer, president of City Gas Company of Florida, both noted the improved economy in their respective areas and the positive outlook for the growth of their operations. "The Ford plant in Edison is now running at full tilt to keep pace with demand for domestic-built light trucks," noted Mr. Kenney, "and here in Union County the unemployment rate dropped 25 percent in the last five months of 1992 while over the whole of 1992 office vacancies declined by one-third."
 In Florida, which achieved the best growth in employment of any state in the union during the fourth quarter of 1992, Mr. Langer noted that the Port St. Lucie area is gaining new residents and businesses daily. "We will complete construction on a new gate station in this fast growing area within the next month," he added.
 All proposals set forth by management were approved by shareholders at today's annual meeting.
 NUI Corporation (NYSE: NUI), based in Bedminister, N.J., is an exempt public utility holding company involved in the distribution of natural gas to approximately 316,000 customers through its principal operating divisions, Elizabethtown Gas Company and City Gas Company of Florida. This year marks the one hundredth anniversary of continuous dividend payments by NUI Corporation.
 -0- 03/09/93
 /NOTE TO EDITORS: The customer Stock Purchase Plan offering will be made only by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common stock in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Individuals interested in securing a copy of the prospectus, which will be forwarded when available, should contact the Office of the Corporate Secretary at NUI Corporation, 550 Route 202-206, P.O. Box 760, Bedminister, N.J., 07921, 908-781-0500/
 /CONTACT: Alexander Pruner of NUI Corporation, 908-781-7815/
 (NUI)


CO: NUI Corporation ST: New Jersey IN: OIL SU:

LD-AH -- NY089 -- 4722 03/09/93 18:14 EST
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Date:Mar 9, 1993
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