Aqua America Reports Sale of Virginia Water System

December 27, 2007
Aqua America Reports Sale of Virginia Water SystemBRYN MAWR, Pa., Dec 27, 2007 (BUSINESS WIRE) -- Aqua America, Inc. (NYSE:WTR) today reported that its Virginia subsidiary has completed the sale of several small water systems in Henrico County Virginia to the County of Henrico for $1.5 million. The 14 separate systems served a total of 1,370 customers.

The existing water systems needed major capital expenditures to meet continuing environmental compliance standards. The sold assets were Aqua Virginia's only operations in Henrico County and there were no apparent growth opportunities.

"Aqua recently indicated that it would be disposing of selected assets collected over recent years (as part of larger acquisitions) which now require large capital investments or have little growth and profitability prospects," said Nicholas DeBenedictis, Aqua America Chairman and CEO. Henrico is the first asset sold under this pruning strategy.

"Although growth through acquisitions remains the key component of the company's growth strategy," said DeBenedictis, "we can also create value by disposing of non-strategic assets."

SOURCE: Aqua America, Inc.

Aqua America, Inc. Kevin M. Brophy Director, Investor Relations 610-645-1020 kmbrophy@aquaamerica.com or Donna Alston Manager, Communications 610-645-1095 dpalston@aquaamerica.com



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