July 23, 2002

RICHMOND, Va. - Dominion (NYSE: D) is committed to negotiating a labor contract with the International Brotherhood of Electrical Workers Local 50, which Tuesday notified the company that it may terminate the agreement with the company as early as Friday.

Dominion and the union have been negotiating since late January with each side agreeing to give the other a 72-hour notice prior to terminating the contract. As long as negotiations are in progress, the present contract for 3,700 bargaining unit employees at Dominion Virginia Power and Dominion Energy remains in effect. Such a notice does not necessarily mean there will be a strike.

"Negotiations have been positive with the vast majority of issues resolved. We have made significant efforts to resolve the handful of issues that remain. While we do not want a strike, we are ready to keep delivering electricity if one occurs," said Edgar M. Roach Jr., president and chief executive officer of Dominion Virginia Power.

Union workers for Dominion Virginia Power and Dominion Energy include linemen, meter readers, power station operators, mechanics and electricians. The contract was ratified in 1995 for three years and extended twice, each time for two years. The IBEW Local 50 membership rejected a proposed contract in late June. Negotiations resumed June 25. A federal mediator joined the negotiations July 9.

Dominion is one of the nation's largest producers of energy, with a production capability of more than 3 trillion British thermal unit of energy per day. Dominion also serves 3.9 million franchise natural gas and electric customers in five states. For more information about Dominion, visit the company's Web site at www.dom.com.
 

# # #