RICHMOND, Va. – Dominion Resources, Inc. (NYSE: D) announced
today that it has extended its offer to holders of its $220 million outstanding
principal amount of 2003 Series G 2.125% Convertible Senior Notes due 2023 (CUSIP
No. 25746UAP4) (the "Old Notes") to exchange an equivalent principal
amount of its 2004 Series C 2.125% Convertible Senior Notes due 2023 (the "New
Notes") and an exchange fee of $2.50 per $1,000 principal amount. The New
Notes provide for net share settlement when converted and otherwise are substantially
the same as the Old Notes.
The expiration date for the exchange offer has been extended
from 12:00 midnight, New York City time, on Thursday, December 9, 2004 until
12:00 midnight, New York City time, on Thursday, December 16, 2004.
As of December 9, 2004, approximately $219 million in principal
amount of Old Notes had been deposited in response to the exchange offer.
A registration statement relating to these securities
has been filed with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be accepted
before the time the registration statement becomes effective. This news release
is for informational purposes only and does not constitute an offer to sell
or the solicitation of an offer to buy these securities, nor shall there be
any offer, solicitation or sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful before the registration or
qualification of these securities under the securities laws of any such jurisdiction.
You are urged to read the prospectus and related materials, which have
been filed as part of the registration statement, and our tender offer statement
on Schedule TO because they contain important information. You may obtain a
copy of these documents for free at the SEC’s Web site at http://www.sec.gov.
A copy of the written prospectus and other materials relating to the exchange
offer also can be obtained for free from the information agent, D.F. King &
Co., Inc., 48 Wall Street, 22nd Floor, New York, New York 10005, Phone: 1-800-758-5378,
or from Morgan Stanley, 1585 Broadway, New York, New York 10036, Attention:
Francesco Cipollone, Phone: 1-800-624-1808 (toll-free) or 1-212-761-1941 (collect).
