April 14, 2004

NEW ORLEANS - Dominion Exploration & Production, Inc., a subsidiary of Dominion (NYSE:D), today announced a discovery at its Goldfinger prospect in Mississippi Canyon (MC) Block 771 in the deepwater Gulf of Mexico. The discovery well was drilled in 5,423 feet of water and encountered 57 net feet of oil bearing sand at approximately 15,000 feet below sea level. The well was temporarily abandoned and will most likely be completed as a subsea tieback to the Devils Tower spar on nearby Block MC 773.

Goldfinger represents the second subsea tieback prospect drilled by Dominion E&P near the Devils Tower spar. The Triton discovery (MC 772 #4) was drilled in 2002 and successfully appraised (MC 728 #1) in 2003. A three-well subsea development system is currently under evaluation to connect the discoveries to the Devils tower host platform. The Devils Tower spar is set to commence production in the second quarter of this year following commissioning of the export pipelines and well completions. The Triton/Goldfinger project could be completed and producing through the spar by late 2005 - early 2006 depending on available processing capacity.

Dominion E&P owns a 75 percent working interest and is operator of Devils Tower, Triton, and Goldfinger with partner Pioneer Natural Resources Company (NYSE: PXD) owning the remaining 25 percent interest in the project area.

Dominion is one of the nation's largest producers of energy, with an energy portfolio of more than 24,000 megawatts of generation, 6.4 trillion cubic feet equivalent of proved natural gas reserves and 7,900 miles of natural gas transmission pipeline. Dominion also operates the nation's largest underground natural gas storage system with more than 960 billion cubic feet of storage capacity and serves 5.3 million retail energy customers in nine states. For more information about Dominion, visit the company's Web site at www.dom.com.

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