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WALL, N.J. – NJR Energy Services (NJRES), the unregulated wholesale energy services subsidiary of New Jersey Resources (NYSE: NJR), has entered into a natural gas portfolio management agreement with Niagara Mohawk, based in Syracuse, New York. Niagara Mohawk provides natural gas to nearly 560,000 customers in upstate New York.

Beginning in December 2004, NJRES and Niagara Mohawk are working jointly to manage and optimize Niagara Mohawk’s natural gas assets, including natural gas pipeline transportation, storage and supply. NJRES has a proven track record of providing reliable asset management options, lowering costs and providing value by offering customers unique and flexible options.

“We’re enthusiastic about the value we can bring to Niagara Mohawk customers and other stakeholders through the expertise of our knowledgeable staff and extensive system infrastructure,” said Joseph P. Shields, senior vice president – energy services. “The reliability that’s central to all we do is paramount in managing the lifeline assets of a local distribution company,” Mr. Shields said.

About NJR Energy Services
NJR Energy Services (NJRES), a subsidiary of New Jersey Resources Corporation (NYSE: NJR), provides unregulated wholesale energy services to customers in New Jersey, and in states from the Gulf Coast to New England, and Canada. NJRES is a leader in the unregulated energy services market, providing outstanding customer service and expert management of natural gas storage and capacity assets. NJRES’ experienced team of industry experts helps customers maintain their competitive edge with services that include natural gas supply, pipeline capacity and storage management. NJRES maintains storage positions in the Gulf Coast, Appalachia, Mid-Continent and Canada. In 2004, natural gas sold or managed by NJRES was approximately 1 billion cubic feet per day. NJR, the parent company of NJRES, is a Fortune 1000 company and a member of the Forbes Platinum 400. For more information, visit the NJRES Web site at njliving.com.

About Niagara Mohawk
Niagara Mohawk, a National Grid company provides electricity service to approximately 1.5 million customers and natural gas service to approximately 560,000 customers in upstate New York. The company is based in Syracuse. Its parent company also has electricity distribution operations in New England. For more information, visit the Niagara Mohawk Web site at niagaramohawk.com.