Dominion News Releases

April 20, 2000

Dominion Merger Integration Effort Identifies 700 Positions To Be Eliminated In New Company

Richmond,Va.; April 20, 2000 -- Dominion (NYSE: D) today announced that it expects to eliminate 700 positions as part of a post-merger integration expected to save at least $75 million in 2000 through voluntary and involuntary job reductions, consolidations, improved efficiencies and increased use of advanced technology.

Dominion completed its merger with Consolidated Natural Gas of Pittsburgh on January 28, creating the nation's largest fully integrated natural gas and electric power company, with nearly 4 million customers in five states served by a work force of 17,000. The company also expects to adopt best business practices from both companies as part of its effort to improve efficiencies.

About half of those employees affected by the eliminated positions have been notified and have already left the company. Remaining reductions are expected during the balance of the year through an early retirement program open until May 17, a voluntary severance program until June 30, and additional involuntary severances should they remain necessary when the programs close. One-third of employees who have already left elected to do so.

Bill Mistr, vice president-merger integration, said:

"The vast majority of these positions are in corporate support services in Richmond and Pittsburgh, as we've said from the beginning. While there will be efficiencies in our operating companies, the primary focus is on enhancing and improving customer service at all levels to prepare for competition."

Dominion cannot specify the exact number of jobs being eliminated in each of the five states where the company has significant operations because the process of notifications and reductions is ongoing.