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Aqua America New Jersey Subsidiary Purchases Water System in Sussex County

^{Published on 2010-11-30 08:48:52 - Market Wire}
 

BRYN MAWR, Pa.--([ BUSINESS WIRE ])--Aqua America, Inc. (NYSE:WTR) announced today that its New Jersey subsidiary has completed the purchase of the water system assets of the Vernon Water Company, which serves approximately 600 people in Vernon Township Sussex County for $180,000. The Vernon system acquisition is the second for Aqua New Jersey and the fifteenth for Aqua America subsidiaries this year.

"Vernon is an example of a tuck-in acquisition that helps to fill in the footprint of our Aqua New Jersey operations and contribute to our ability to maximize our economies of scale."

The Vernon water system will be operated by Aquaa™s nearby Northern Division, which also manages the companya™s system in Fredon Township, Sussex County.

aWea™re pleased to expand our operations in Sussex County with the addition of the Vernon Water Company,a said Aqua America Chairman and CEO Nicholas DeBenedictis. aVernon is an example of a tuck-in acquisition that helps to fill in the footprint of our Aqua New Jersey operations and contribute to our ability to maximize our economies of scale.a

Aqua America is one of the largest U.S.-based publicly-traded water utility serving almost 3 million residents in Pennsylvania, Ohio, Illinois, Texas, New Jersey, Indiana, Virginia, Florida, North Carolina, Maine, Missouri, New York, South Carolina and Georgia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR. The company has been dedicated to the preservation and improvement of the environment throughout its history which spans more than 100 years.

This release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that address, among other things: benefits from the approximate number of people served by the acquired systems, the impact the Company may have on the acquired systems, and the continuation of the companya™s strategy to pursue the acquisition of such systems. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: the risk that the acquired companya™s business will not be successfully integrated; and other key factors that we have indicated could adversely affect our business and financial performance discussed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2009, which is on file with the Securities and Exchange Commission. Aqua America is not under any obligationa"and expressly disclaims any such obligationa"to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

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