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VIRGINIA POWER EMPLOYEES BOOST SIZE OF AMERICA'S UTILITY FUND OVER $100 MILLION IN ASSETS

 RICHMOND, Va., July 15 /PRNewswire/ -- America's Utility Fund has passed the $100 million mark just 14 months since its introduction to customers of Virginia Power through the monthly electric bill -- thanks to a one-time boost from employees of Virginia Power.
 More than 1,300 employees who elected to reallocate funds in their company savings plans at the routine mid-year election period transferred more than $12 million into the mutual fund this month.
 For the first time, America's Utility Fund was made available to Virginia Power non-union employees and employees of Dominion Resources and its non-utility subsidiaries as an additional investment option. Dominion Resources is the parent company of Virginia Power and Dominion Capital, Inc., sponsor of the mutual fund.
 Two other funds were also made available to employees to broaden investment options for those who choose to maintain company savings accounts through payroll deduction.
 America's Utility Fund is the nation's first installment-purchase utility mutual fund available to customers through bills. Since it was introduced to the 1.8 million homes and businesses served by Virginia Power on May 7, 1992:
 -- It has drawn 41,000 investors from 29 states.
 -- It has grown to more than $100 million in assets.
 -- It has drawn another $16 million in pledges to be paid on
 installment during the next 12 months.
 -- It has yielded a total return in excess of 27 percent since
 inception.
 O.J. Peterson III, president of Dominion Capital and of America's Utility Fund, said: "The fund has grown at a rate that significantly exceeded our initial projections. We are delighted at this vote of confidence from employees in the work force of the entire Dominion family of business subsidiaries, particularly of our largest business, Virginia Power."
 -0- 7/15/93
 /CONTACT: Mark G. Lazenby of Dominion Resources, 804-775-5704/
 (D)


CO: Dominion Resources Inc.; America's Utility Fund ST: Virginia IN: UTI FIN SU:

KD-DC -- DC002 -- 1850 07/15/93 10:23 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
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