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WALL, N.J. – New Jersey Resources (NYSE: NJR) for the third year in a row earned a spot on the Fortune 1000. NJR ranked 591, advancing 123 places over the prior year on the list released in the April issue of Fortune magazine. The Fortune 1000 ranks the largest publicly traded U.S. corporations by annual revenues. The magazine noted that NJR’s fiscal 2003 revenues, at more than $2.5 billion, are up 39 percent from the previous year.

“This impressive jump in our Fortune 1000 ranking reflects the hard work and dedication of our employees,” said Laurence M. Downes, chairman and CEO of NJR. “We are especially proud that among the 54 natural gas and electric utilities listed, NJR ranked second in annual return to investors and fourth for annual earnings-per-share growth for the 10 years ending 2003. Our consistent results demonstrate our focus on reliable performance for all our stakeholders.”

NJR’s strong financial performance reflects continued customer growth at New Jersey Natural Gas (NJNG), NJR’s principal subsidiary, and expanded market opportunities at NJR Energy Services, a wholesale energy services subsidiary. In fiscal 2003, NJR marked 12 consecutive years of earnings growth, a record of consistency the company believes is unparalleled in the industry.

NJR’s improved position on the Fortune 1000 is the latest recognition of achievements by the company and its employees. NJR’s third year on Fortune magazine’s list follows the company’s second consecutive appearance on the Forbes Platinum 400. In February, the Businessweek Corporate Scoreboard rated NJR highest among natural gas utilities across the nation for return on common equity. In 2003, NJNG was the only natural gas utility to receive an upgrade in corporate credit ratings from Moody’s Investor Services (Moody’s) and one of only two to be upgraded by Standard & Poor’s (S&P). The company has an Aa3 rating from Moody’s and an A+ rating from S&P.

New Jersey Resources (NYSE: NJR), a Fortune 1000 company and a member of the Forbes Platinum 400, provides retail and wholesale energy services to customers in New Jersey and in states from the Gulf Coast to New England, and Canada. Its principal subsidiary, New Jersey Natural Gas, is one of the fastest-growing local distribution companies in the United States, serving nearly 450,000 customers in central and northern New Jersey. Other major NJR subsidiaries include NJR Energy Services and NJR Home Services. NJR Energy Services is an emerging leader in the unregulated energy services market, providing outstanding customer service and management of natural gas storage and capacity assets. NJR Home Services offers retail customers expert heating, air conditioning and appliance services. NJR’s progress is a tribute to the more than 5,000 dedicated employees who have shared their expertise and focus on quality through more than 50 years of serving customers and the community to make NJR a leader in the competitive energy marketplace. More information on NJR can be found on our Web site at njliving.com.