GIG HARBOR, Wash., Jan. 2, 2002 — Washington Water Service Company (Washington Water) completed its acquisition of the assets of the Raft Island water system on December 31, 2001, after receiving the Washington Utilities and Transportation Commission's approval of the purchase on December 28, 2001, the company announced today. Customer rates will not be affected.
The Raft Island water system serves 185 metered connections on a Pierce County island adjacent to the Gig Harbor Peninsula. The $125,000 purchase marks the company's seventh water system purchase in 2001 and brings total growth of regulated customers to 5.5%. Washington Water also entered into contractual agreements to provide service to 236 metered connections in 2001, increasing the company's non-regulated customer count by 9.8%.
"We are all committed to expanding our Washington operations, and we are very happy with our growth in 2001. More importantly, we're looking forward to providing excellent service to our new customers on Raft Island," said Mike Ireland, President of Washington Water.
Washington Water is a wholly owned subsidiary of the California Water Service Group, the largest investor-owned water utility in the West. California Water Service Group's other operating subsidiaries are California Water Service Company, New Mexico Water Service Company and CWS Utility Services.
Together, they provide regulated and non-regulated water utility services to over 2 million people in 90 California, New Mexico and Washington communities. California Water Service Group's common stock trades on the New York Stock Exchange under the symbol "CWT." Additional information is available on the company's web site at www.calwater.com.
