2008 Financial Highlights

Years Ended December 31, 2008 2007 % Change FINANCIAL (in thousands)     Operating Revenues $ 61,270 $ 59,026 3.8% Non-Water Sales Earnings, net of taxes $ 790 $ 651 21.4% Net Income Applicable to Common Stock $ 9,386 $ 8,743 7.4%         COMMON STOCK (Per Share Data)     Basic Earnings Per Average Share $1.12 $1.06 5.7% Stock Price (End of Year) $23.61 $23.57 0.2% Dividends Declared $ 0.880 $ 0.865 1.7% Book Value Per Share (End of Year) $ 12.23 $ 11.95 2.3%         OPERATIONS     Number of Customers (End of year) 87,361 84,418 3.5% Number of Employees (End of year) 226 206 9.7%