Farrell Elected Chairman of Dominion

BOSTON -- The board of directors of Dominion (NYSE: D) today elected President and Chief Executive Officer Thomas F. Farrell II as chairman of the board, effective immediately. Farrell succeeds retiring Board Chairman Thos. E. Capps.

Farrell’s election came following Dominion’s annual shareholder meeting, which was held in Boston to highlight the company's growing presence as a major wholesale and retail energy provider in New England. Dominion, one of the nation’s largest energy producers, is headquartered in Richmond, Va.

Farrell became chief executive officer on Jan. 1, 2006.  Prior to that, he served in several senior management positions since joining the company in 1995.

Ten Directors Re-Elected

Shareholders at the company's annual meeting elected 10 incumbent directors to new one-year terms.  Four directors did not stand for re-election, reducing the Dominion board from 14 to 10.  In addition to Capps, the other directors not standing for re-election were Richard L. Leatherwood, Ronald J. Calise and S. Dallas Simmons.

Two Shareholder Proposals Defeated

Shareholders also defeated two shareholder proposals at the meeting. A proposal to require the company to prepare a report evaluating the environmental, health and cultural impacts created by utilizing a National Interest Electric Transmission Corridor to site a new transmission line in Northern Virginia was rejected by 93 percent of the votes cast.  Management recommended against the proposal because such impacts will already be evaluated through a long-established process overseen by the Virginia State Corporation Commission and described on the company's website.  Management also noted that no such corridor has been designated by the federal government in Virginia.

A second proposal requesting that the company prepare a report describing its responses to reduce carbon dioxide and other emissions from the company's power facilities also was rejected by 78 percent of the votes cast.  Management recommended against the proposal because it reports extensively on its environmental protection activities in public documents and in reports on its Web site.

Dominion is one of the nation's largest producers of energy, with a portfolio of more than 26,300 megawatts of generation, about 6.5 trillion cubic feet equivalent of proved natural gas reserves and 7,800 miles of natural gas transmission pipeline. Dominion also owns and operates the nation's largest underground natural gas storage system with about 960 billion cubic feet of storage capacity and serves retail energy customers in 11 states. For more information about Dominion, visit the company's Web site at http://www.dom.com/.

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