Artesian to acquire Mountain Hill Water Company

Artesian Water Maryland, a subsidiary of Artesian Resources Corporation, has entered into an agreement to purchase the Mountain Hill Water Company, subject to approval by the Maryland Public Service Commission. The 8,000-acre area owned by Mountain Hill Water Company's affiliates represents a significant addition to Artesian's expanding presence as the water provider in Cecil County's designated growth corridor...

May 15th, 2008

CECIL COUNTY, MD, May 13, 2008 -- Artesian Water Maryland, a subsidiary of Artesian Resources Corporation, has entered into an agreement to purchase the Mountain Hill Water Company, subject to approval by the Maryland Public Service Commission. The 8,000-acre area owned by Mountain Hill Water Company's affiliates represents a significant addition to Artesian's expanding presence as the water provider in Cecil County's designated growth corridor.

The acquisition will include a water treatment facility, four wells with a capacity of up to 500,000 gallons per day, a 500,000-gallon elevated storage tank and approximately 8 miles of main located at the core of the county's growth area between North East and Perryville.

The existing water facility serves business tenants located in the Principio Business Park. It currently treats and serves approximately 300,000 gallons of water per day, with capacity to provide up to two million gallons per day. It will also serve the planned 660-home residential development of Charlestown Crossing and can be expanded to serve other development in the 8,000-acre area as it occurs.

Prior to the acquisition, Artesian provided engineering and operations services to Mountain Hill during the past year, including the construction of a new water treatment plant.

"This facility is strategically located in the area of Cecil County that has been designated for future growth," said Artesian President and CEO Dian C. Taylor. "By upgrading and purchasing this plant, we are now well positioned to meet the growing needs of this area, and to eventually interconnect this facility with other plants in our water supply network. This is further evidence of our commitment to meeting the needs for water service in Cecil County's targeted growth area."

Artesian Water Maryland Inc. is a subsidiary of Artesian Resources Corporation that is able to provide public water utility services to customers throughout the state of Maryland.

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