Dominion News Releases

September 19, 2000

Dominion to Create Internal Unit to Advance New Technologies Within Company

RICHMOND, Va. — Dominion (NYSE: D), the nation’s largest fully integrated electric power and natural gas company, will create a new support group responsible for evaluating and integrating new energy technologies into the company’s plans for growth and customer service.

Thos. E. Capps, chairman, president and chief executive officer, said:

“Critical to our success is our ability to effectively harness the benefits of an explosive growth in new technology. This group will be responsible for evaluation and coordination of Dominion’s investments in new technologies, refining our service to customers, furthering our growth plans and helping us understand our competitors’ plans.”

Among the new technologies to be tracked by the group will be distributed generation, fuel cells, automated meter reading and new ways to improve environmental compliance. The group will also evaluate enhanced service capabilities made possible through new technologies, such as real-time pricing.

The group will work closely with the business units from within the company’s Dominion Energy subsidiary. It will begin operating by Oct 1.

John Shaw, senior vice president-financial management, Dominion Energy, will oversee the new unit.

Shaw said:

“Our principal priority will be to ensure that Dominion exploits the new technologies alongside and within its tremendous asset base, both physical and human. The group will advise senior management as to its strategic approach to the use of new technology. However, we’ll also act as an internal clearinghouse to disseminate both our own internal research, outside research and information about the use of technology by our competitors. We’ve got a considerable amount of activity now under way in various parts of the company. This unit will serve as a vital focal point.”

Dominion is the nation’s largest fully integrated electric power and natural gas company, serving 4 million retail gas and electric customers in five states. The company has nearly 20,000 megawatts of generating capability, about 10,000 additional megawatts under some form of development and nearly 3 trillion cubic feet of natural gas reserves. It is also one of the largest independent oil and natural gas exploration and production companies in North America.