Dominion News Releases

March 2, 2001

Consolidated Natural Gas Company Announces Consent Solicitation

RICHMOND, Va. – Consolidated Natural Gas Company, a subsidiary of Dominion (NYSE: D), announced today that it is soliciting consents from the holders of its 5 3/4 percent debentures due August 1, 2003 and its 6 5/8 percent debentures due December 1, 2013 to amend the 1971 indenture under which the two series of debentures were issued. The proposed amendments are designed to conform the 1971 indenture more closely to the Company's 1995 indenture, under which $1.35 billion of debt securities are outstanding.

The amendments will require approval of the holders of two-thirds of the outstanding principal amount of each series. There are currently $150 million of debentures of each series outstanding. If the necessary consents are received and the other conditions to the solicitation are satisfied, a consent fee will be paid to holders who have delivered, and not revoked, a valid consent before expiration of the solicitation. The scheduled expiration date for the solicitation is March 15, 2001.

Morgan Stanley Dean Witter (telephone number 800-624-1808) is the Solicitation Agent for the transaction. D.F. King & Co. Inc. (telephone number 800-207-3158) is the Information Agent and Tabulation Agent.

On January 17, 2001 the Company called for redemption of its 8 3/4 percent debentures due October 1, 2019, which had also been issued under the 1971 Indenture. Redemption of that series was completed on February 16, 2001.

This release is not a solicitation of consents. Consents will be solicited through a consent solicitation statement which will be forwarded to holders of the two series of debentures or which may be obtained by contacting the Information Agent.