PSC's Illinois Subsidiary Purchases Kankakee County Water System

May 8, 2003
PSC's Illinois Subsidiary Purchases Kankakee County Water SystemBRYN MAWR, Pa., May 8, 2003 (BUSINESS WIRE) -- Philadelphia Suburban Corporation's (NYSE:PSC) Consumers Illinois Water Company (CIWC) subsidiary announced today that it has completed the purchase of the assets of the Village of Grant Park water system, serving approximately 1,500 residents in Grant Park, Kankakee County for $66,000.

CIWC has plans to interconnect its Kankakee water system with its new Grant Park system. Construction is scheduled to begin immediately and be completed by November 15, 2003.

PSC Chairman Nicholas DeBenedictis said he is pleased with the growth venture for the Illinois subsidiary. "We are looking forward to continuing our expansion in Illinois and in Indiana where we recently established a new service area."

CIWC President Terry Rakocy said, "The Village of Grant Park is a natural addition to our growing Kankakee division. We will begin work immediately to interconnect the Grant Park water system with our Kankakee system and extend our quality water and reliable service to the Village's residents."

CIWC manages and operates eight divisions engaged in the collection, treatment, and distribution of potable water for homes, businesses, industries and fire protection service.

Philadelphia Suburban Corporation (NYSE:PSC) the nation's largest U.S.-based investor-owned water utility, serving approximately two million residents in New Jersey, Pennsylvania, Illinois, Ohio, Maine, North Carolina and Indiana.

SOURCE: Philadelphia Suburban Corporation

Philadelphia Suburban Corporation
Randi Polanich, 610/645-1175
polanichr@suburbanwater.com