SOURCE: Middlesex Water Company

July 01, 2008 16:36 ET

Middlesex Water Company Added to Russell 3000 Index

ISELIN, NJ--(Marketwire - July 1, 2008) - Middlesex Water Company (NASDAQ: MSEX) today announced it has been added to the broad-market Russell 3000® Index after the Russell Investment Group reconstituted its comprehensive set of U.S. and global equity indexes on June 27, 2008. The Russell 3000 Index measures the performance of the largest 3,000 U.S. Companies representing approximately 98% of the investable U.S. equity market. Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies.

Russell Investments realigns the Russell 3000 Index once per year and captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The Russell 3000 Index is comprised of the Russell 1000 and Russell 2000 indices. The largest 1,000 companies in this ranking comprise the Russell 1000 of large capitalization stocks and the next 2,000 companies become the Russell 2000 index of small capitalization stocks. Middlesex Water was one of three companies in the utilities sector that were added to the Russell 2000.

"The selection of Middlesex Water Company as part of the Russell 3000® Index represents another significant accomplishment in our efforts to continually improve shareholder value," said Middlesex Water Company President and CEO Dennis. W. Doll. "Inclusion in this well-respected Index is recognition of our achievements, growth and strengthened market position in our industry and provides further momentum for delivering value for our customers, our employees, and our shareholders," added Doll.

About Middlesex Water Company

Middlesex Water Company, (NASDAQ: MSEX) established in 1897, provides a full range of regulated and non-regulated water, wastewater utility and related services in parts of New Jersey and Delaware. The Company has nine subsidiaries through which it designs, builds, manages, owns and operates water and wastewater assets, conducts municipal contract operations and public/private partnerships and provides water and sewer line maintenance services. Middlesex Water and its subsidiaries have more than 125,000 customers and serve a population of over 400,000.

For additional information regarding Middlesex Water Company, visit the Company's Web site at www.middlesexwater.com or call (732) 634-1500.

This release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, our long-term strategy and expectations, the status of our acquisition program, the impact of our acquisitions, the impact of current and projected rate requests and the impact of our capital program on our environmental compliance. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: general economic business conditions, unfavorable weather conditions, the success of certain cost containment initiatives, changes in regulations or regulatory treatment, availability and the cost of capital, the success of growth initiatives and other factors discussed in our filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Bernadette Sohler
    Vice President - Corporate Affairs
    Middlesex Water Company
    1500 Ronson Road
    Iselin, New Jersey 08830
    www.middlesexwater.com