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WATER QUALITY IMPROVEMENT HIGHLIGHTED AT PEI ANNUAL MEETlNG

 WATER QUALITY IMPROVEMENT HIGHLIGHTED AT PEI ANNUAL MEETlNG
 SCRANTON, Pa., June 4 /PRNewswire/ -- At the Pennsylvania Enterprises, Inc. (NASDAQ: PENT) (PEI) 1992 Annual Shareholder Meeting held yesterday, President and Chief Executive Officer Dean T. Casaday highlighted the substantial progress that the company has made in water quality improvement.
 The meeting was held at the Scranton Area Water Treatment Plant, Lake Scranton, which is owned by Pennsylvania Gas and Water Company, PEI's principal subsidiary. In addition to seeing first-hand PG&W's new water facilities, shareholders at the meeting voted to re-elect PEI's directors and to approve three proposals that will provide greater financial flexibility and strength to the company.
 In his report on operations, Casaday noted that the Scranton plant is one of several facilities the company is building to achieve its goal of providing filtered water to 100 percent of its service territory. The company has completed five water treatment plants since 1988 and three more are currently under construction.
 At the meeting, PEI shareholders re-elected the company's directors: Kenneth L. Pollock, chairman of the board of PEI, owner of the Susquehanna Coal Company and Ken L. Pollock, Inc., Nanticoke; William D. Davis, vice chairman of the board of PEI and chairman and chief executive officer, Commonwealth Bancshares Corporation, Williamsport; Casaday; Zane B. Confair, former chairman of Confair Bottling Company, Williamsport; Robert J. Keating, chairman of the board, Parodi Industries, Inc., Scranton; John D. McCarthy, president of McCarthy Tire Service Company and McCarthy Realty, Inc., Wilkes-Barre; James A. Ross, president and chief executive officer, Sprague & Henwood, Inc., Scranton; Andrew Shaw Jr., president and chief executive officer, Midway Tool Engineering Co., Wilkes-Barre; and Ronald W. Simms, president and chief executive officer of Petroleum Service Corporation and Mountain Productions, Inc., Wilkes-Barre.
 Shareholders also approved three proposals: increasing the company's authorized common stock from 5 million to 15 million shares; eliminating shareholders' pre-emptive rights to purchase common stock; and establishing a stock option plan for employees of the company.
 "We are pleased that the shareholders of the company approved these measures which will provide us with the flexibility to proceed with our water quality improvement program and strengthen our financial position, as well as attract and retain qualified employees," Casaday said following the vote.
 At a reorganization meeting of the directors held after the annual meeting, Pollock, Davis, Casaday and the other existing officers of PEI were re-elected to their respective positions. All directors and officers serve in the same capacity for Pennsylvania Gas and Water Company, the principal operating utility subsidiary of PEI.
 PEI, through Pennsylvania Gas and Water Company, provides natural gas service to approximately 132,000 customers and water service to approximately 130,000 customers in an 11-county area in northeastern Pennsylvania.
 -0- 6/4/92
 /CONTACT: Juneann Greco of Pennsylvania Enterprises, 717-829-8825/ CO: Pennsylvania Enterprises, Inc. ST: Pennsylvania IN: UTI SU: PER


MK-LJ -- PH008 -- 6924 06/04/92 09:40 EDT
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Publication:PR Newswire
Date:Jun 4, 1992
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