Dominion News Releases

October 11, 2000

Dominion Senior Management Presents Growth Plan to Industry Analysts at Conference in Houston

RICHMOND, Va. – Management of Dominion (NYSE:D) outlined the company’s growth plan today during a presentation to industry analysts in Houston at a forum sponsored by Morgan Stanley Dean Witter.

Conducting a presentation entitled "Rational Exuberance" were Thomas F. Farrell II, chief executive officer of Dominion Energy, the power generation and trading unit of Dominion, and Paul D. Koonce, senior vice president-portfolio management, Dominion Energy.

The presentation can be viewed on-line on Dominion's web site.

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

"In coming months, key officers of our company will show investors how we plan to use our fundamental strengths to grow profitably in growing Midwest, Northeast and Mid-Atlantic energy markets, home to 40 percent of our nation’s demand for energy.

"The ‘New Economy’ is for real, and it will require lots of energy. As an example, a commercial building loaded with computers and a data center can consume many times more energy per square foot than a traditional commercial building. And the transfer of data over the Internet consumes large volumes of energy. Investors are realizing that among the biggest financial beneficiaries of the growing ‘New Economy’ may well be the companies that will produce the energy to power it.

"The growing level of investor interest in our industry and our company is, in our view, considerably more rational and driven by fundamentals than the mania-like exuberance recently showered on technology stocks. What we are talking about here is an industry, and in the case of Dominion, a company positioned to benefit financially from the Internet and the ‘New Economy.’"

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Dominion cautions investors to read the safe harbor statement at the beginning of the presentation and to use the presentation in conjunction with the company’s SEC filings.

This release contains forward-looking statements that are subject to various risks and uncertainties. For a discussion of factors that may cause actual results to differ from management's projections, forecasts, estimates and expectations, please refer to our filings with the SEC, including our most recent Quarterly Report on Form 10-Q.