January 22, 2004

WATERFORD, Conn. - Dominion (NYSE: D), one of the nation's largest energy producers, filed an application Thursday with the U.S. Nuclear Regulatory Commission to renew the operating licenses of its two units at Millstone Power Station.

If the licenses are approved, 870-megawatt Unit 2 would continue operating until 2035 and 1,150-megawatt Unit 3 until 2045. Combined, both units provide enough safe and reliable electricity to power more than 1 million homes and businesses in Connecticut.

"Dominion has a lasting commitment to maintain Millstone as New England's leading energy provider," said Thomas F. Farrell II, president and chief operating officer. "We look forward to continuing to meet that commitment for many years to come."

The NRC originally issued 40-year initial operating licenses for commercial nuclear power units. In applying for 20-year renewals, owners must demonstrate that there would be no adverse impact to public health and safety or the environment by continued operation of the units. The NRC will schedule public meetings as part of the renewal process.

The NRC is expected to take approximately two years to review the applications. The NRC renewed the operating licenses for Dominion's two Virginia nuclear power stations, North Anna and Surry, in 2003.

"Maintaining a diverse fuel mix is critical for our nation's electric supply," Farrell said. "We must include nuclear in our nation's fuel mix if we care about having stable, reliable, clean and affordable electric supply in the future."

Dominion is one of the nation's largest producers of energy, with an energy portfolio of more than 24,000 megawatts of generation, 6.2 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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