Dominion News Release

Print-Friendly Version

July 12, 2007

Dominion Announces Final Results for its Debt Tender Offer

RICHMOND, Va. – Dominion Resources, Inc. (NYSE:D) announced today the final results for its debt tender offer to purchase up to $2.5 billion of its debt securities specified in the table below.  The tender offer expired at midnight, New York City time, on July 11, 2007.  The tender offer was made on the terms and subject to the conditions set forth in the Offer to Purchase dated June 13, 2007, and the related Letter of Transmittal.

The table below identifies the principal amount of each series of securities validly tendered in the tender offer and the principal amount that Dominion has accepted for purchase pursuant to the tender offer. The amounts of each series of securities to be purchased in the tender offer were determined based on the aggregate principal amount of each series of securities validly tendered and not validly withdrawn on or before the expiration date, in accordance with the priorities identified in the “Acceptance Priority Level” column in the table below and subject to the maximum tender offer amount of $2.5 billion.

Based on the aggregate principal amount of securities tendered on or before the expiration date and the terms of the tender offer, Dominion will purchase all tendered securities of acceptance priority levels 1 through 9 and approximately $165.7 million principal amount of the 6.25 percent Notes due 2012, which represents a pro-ration factor of approximately 40 percent. The applicable total tender offer consideration or late tender offer consideration for the securities accepted for purchase, as the case may be, which was calculated by the lead dealer managers and announced by Dominion on July 9, 2007, plus accrued and unpaid interest will be paid by Dominion on July 12, 2007 to or upon the instructions of Global Bondholder Services Corporation, as depositary and agent for the tendering noteholders. Notes that have been tendered but not accepted will be promptly returned to the tendering parties.

Barclays Capital Inc., Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated served as lead dealer managers for the tender offer. Credit Suisse Securities (USA), LLC and Deutsche Bank Securities served as co-dealer managers for the tender offer. Global Bondholders Services Corporation served as the information agent and depositary for the tender offer.

The tender offer has been made only by the Offer to Purchase and the related Letter of Transmittal, and the information in this news release is qualified by reference to such documents. Persons with questions regarding the tender offer should contact Barclays Capital Inc. at (212) 412-4072 (collect) or (866) 307-8991 (toll-free), Citigroup Global Markets Inc. at (212) 723-6106 (collect) or (800) 558-3745 (toll-free) and Merrill Lynch, Pierce, Fenner & Smith Incorporated at (212) 449-4914 (collect) or (888) 654-8637 (toll-free). Requests for copies of the Offer to Purchase and Letter of Transmittal should be directed to Global Bondholders Services Corporation at (212) 430-3774 or (866) 470-4200 (toll-free).

###