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Under the following set of facts and assumptions, (1) the Supreme Court decision constitutes the "final determination of the price to be paid" by Nashua such that the 90-day period under RSA 38:13 has been triggered, (2) RSA 38 would generally apply to a purchase of the stock of Pennichuck Corporation by Nashua pursuant to Ch. 347.5 of the Laws of 2007, and (3) there is no affirmative ratifying vote of Nashua's Board of Aldermen within the 90-day period that satisfies the requirements of RSA 38:13, it could be argued that the 90-day period is now running and that, upon expiration thereof, the 2-year waiting period and requirement of new majority public vote that would apply to the initiation of a new municipalization proceeding would similarly be a condition precedent to an agreed sale of the stock of Pennichuck Corporation to Nashua in settlement thereof.

The Company does not adhere to this view. Among possible other arguments, it is the Company's position that there has not yet been a "final determination of the price to be paid" by Nashua because the price determined by the NHPUC was for assets owned by PWW as of December 31, 2008, not the assets currently owned by PWW that would be subject to acquisition by the city. More specifically, the valuation by the NHPUC still needs to be adjusted to account for post-2008 PWW capital additions, capital retirements and depreciation. Hence, it is the Company's belief that the 90-day period under RSA 38:13, even if otherwise applicable, has not begun to run.

Commenting on this matter, Duane C. Montopoli, Pennichuck's President and Chief Executive, said, "Based on public statements by city officials, we think it unlikely that Nashua will move forward with an eminent domain taking under the terms of the Order. Nevertheless, we continue to believe that a negotiated sale of the stock of Pennichuck Corporation in full settlement of the eminent domain dispute may be the best way to go for both parties and our respective stakeholders. Toward that end, and assuming that RSA 38 would be applicable in the present case, we believe that the earliest possible date the 90-day period could end is July 6, 2010 (i.e., 90 days from April 7, 2010)."

Commenting further, Mr. Montopoli added, "As previously reported, a Pennichuck Corporation stock sale would require the negotiation and resolution of many complex issues and, therefore, no assurance can be given that the city and the Company will ultimately be able to reach agreement on such matters. Also, in addition to approval by the city's Board of Aldermen, the consummation of such a transaction would be subject to approval by the NHPUC and the Company's shareholders, and would depend on the availability of financing to Nashua. Finally, there can be no assurance that the Company's Board of Directors will ultimately conclude that a sale of the Company to the city is in the best interests of the Company's shareholders."

Pennichuck Corporation is a holding company involved principally in the supply and distribution of potable water in New Hampshire through its three regulated water utilities. Its non-regulated, water-related activities include operations and maintenance contracts with municipalities and private entities in New Hampshire and Massachusetts. The Company's real estate operations are involved in the ownership, management and commercialization of real estate in southern New Hampshire.

Pennichuck Corporation's common stock trades on the Nasdaq Global Market under the symbol "PNNW." The Company's website is at [ www.pennichuck.com ].

This news release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Pennichuck Corporation. Forward-looking statements are based on current information and expectations available to management at the time the statements are made, and are subject to various factors, risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, the implications of the New Hampshire Supreme Court's March 25, 2010 decision affirming the eminent domain order of the NHPUC in favor of the City of Nashua, New Hampshire; the impact of an eminent domain taking by Nashua on business operations and net assets; the possible application of RSA 38:13 to a negotiated sale of the stock of Pennichuck Corporation to Nashua under the 2007 special legislation that authorizes the city to purchase and hold the stock of Pennichuck Corporation in settlement of the municipalization proceeding; legislation and/or regulation and accounting factors affecting Pennichuck Corporation's financial condition and results of operations; the availability and cost of capital, including the impact on our borrowing costs of changes in interest rates; and the impact of weather. Investors are encouraged to access Pennichuck Corporation's annual and quarterly periodic reports filed with the Securities and Exchange Commission for financial and business information regarding Pennichuck Corporation, including a more detailed discussion of these and other risks and uncertainties that could affect Pennichuck Corporation's forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statement.