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UNITED WATER RESOURCES SETS RECORD DATE FOR MERGER VOTE

 HARRINGTON PARK, N.J., Jan. 5 /PRNewswire/ -- United Water Resources (NYSE: UWR) announced that Feb. 3, 1994, will be the record date to determine shareholder eligibility to vote on the company's proposed merger with GWC Corporation (NASDAQ: GWCC). Special meetings of shareholders of both companies are expected to be held in March 1994 to vote on the merger proposal. Meeting details will be contained in the proxy statement.
 The merger requires the approvals of the shareholders of both United Water and GWC and certain state regulatory agencies. The companies have made joint filings with state regulatory agencies whose approvals are required.
 The merger, announced Sept. 16, 1993, will form the second largest investor-owned water utility in the country, serving more than 2 million people in 14 states. United Water, headquartered in Harrington Park, is the parent firm of Hackensack and Spring Valley Water companies. GWC, based in Wilmington, Del., is the parent of General Waterworks Corporation.
 Under the terms of the agreement, GWC will merge into United Water so that General Waterworks will become a wholly owned subsidiary of United Water. GWC shareholders will receive United Water common stock, convertible preference stock and cash. The total value of the transaction is approximately $200 million.
 -0- 1/5/94
 /CONTACT: Martha Green of United Water Resources, 201-767-2841, or evenings or weekends, 201-487-0011/
 (UWR GWCC)


CO: United Water Resources; GWC Corporation ST: New Jersey IN: UTI SU: TNM

TW -- NY060 -- 9435 01/05/94 15:27 EST
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Publication:PR Newswire
Date:Jan 5, 1994
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