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HOLMDEL, NJ – Laurence M. Downes, chairman and CEO of Wall, NJ-based New Jersey Resources (NYSE: NJR), today highlighted another year of consistent financial performance for the wholesale and retail energy services company. The company’s 56th Annual Shareowners Meeting was held at the Robert B. Meyner Reception Center, on the grounds of the PNC Bank Arts Center.

“In 2006, our company overcame the challenges of an extremely volatile natural gas market and reduced customer usage to achieve a record 15th consecutive year of higher earnings,” said Downes. “I would like to thank not only our shareowners for their investment in our company, but the women and men of New Jersey Resources who are the driving force behind our success.

“We look forward to adding to our accomplishments in 2007,” Downes added.

New Jersey Natural Gas, NJR’s largest subsidiary, worked with New Jersey’s regulatory leaders to implement an innovative new program aimed at educating customers about the benefits of conservation and energy efficiency. NJR’s wholesale energy services company, NJR Energy Services, experienced tremendous growth in 2006. The company capitalized on opportunities created by higher prices and volatile market conditions to optimize its portfolio of storage and transportation contracts.

Additional highlights of fiscal 2006 at NJR include:

-    NJR’s earnings rose to $78.5 million, or $2.82 per basic share, compared with $74.4 million, or $2.70 per basic share, net of certain one-time items, last year.
-    The company increased its dividend 5.6 percent to an annual rate of $1.52 per share.
-    NJR was named to the Forbes Platinum 400 list of America’s Best Big Companies for the 5th year in a row.
-    J.D. Power and Associates rated New Jersey Natural Gas (NJNG) the best among the state’s natural gas utilities and first in the region in customer service.
-    For the 14th consecutive year, NJNG had the lowest number of complaints per 1,000 customers with the New Jersey Board of Public Utilities among the state’s major electric and natural gas utilities.

Shareowners approved the nomination of Mr. Downes, Lawrence R. Codey, Alfred C. Koeppe and William H. Turner, each for three-year terms, and Jane M. Kenny, for a one-year term, on the NJR board of directors, as well as the 2007 Stock Award and Incentive Plan.

The selection of Deloitte & Touche, LLP as the company’s independent registered public accounting firm for the fiscal year ending September 30, 2007 was also ratified by shareowners.

New Jersey Resources (NYSE:NJR), a Fortune 1000 company and a member of the Forbes Platinum 400, provides reliable 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 more than 471,000 customers in central and northern New Jersey. Other major NJR subsidiaries include NJR Energy Services and NJR Home Services. NJR Energy Services is a leader in the wholesale energy services market, providing customer service and management of natural gas storage and capacity assets. NJR Home Services offers retail customers 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. For more information, visit NJR’s Web site at njliving.com.