News | October 29, 2004

Chesapeake Utilities Corporation Sells Assets Of Ecowater Systems Of Stuart In Florida

Dover, DE – William C. Boyles, Vice President and Corporate Secretary of Chesapeake Utilities Corporation, announced today that the Corporation has sold the assets of Sharp Water of Florida, Inc. to Crystal Water Systems, Inc., of Carson City, NV. This sale represents the final step of Chesapeake's strategy to exit from the water conditioning and treatment business, now having sold all seven of its EcoWater dealerships.

Crystal Water Systems, Inc., is owned and operated by Peter D. Wernick. Mr. Wernick founded the business in April of 1991. For 13 years, Crystal Water Systems owned and operated all of the EcoWater dealerships in the State of New Mexico, generating more than $25 million in gross sales. Mr. Wernick sold all of his dealerships in New Mexico in 2003.

"EcoWater Systems of Stuart has been providing improved water to the residents of Stuart and surrounding areas for many years," said Mr. Boyles. "Under Mr. Wernick's direction, we anticipate that the Stuart location will continue to thrive and grow."

"Our Florida customers will continue to experience outstanding customer service and excellent quality water treatment products and services," said Mr. Wernick. "We are proud to expand our expertise into Florida with an EcoWater dealership." EcoWater, based in St. Paul, MN, is the world's oldest and largest manufacturer of water treatment and conditioning equipment in the world. EcoWater Systems of Stuart will continue to provide free water analysis and a full range of water solutions. EcoWater Systems of Stuart representatives can be reached at 772.692.1037.

Chesapeake Utilities Corporation is a diversified utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses. Information about Chesapeake Utilities Corporation and the Chesapeake family of businesses is available online at www.chpk.com.

Source: Chesapeake Utilities Corporation