April 1, 2003

RICHMOND, Va. - Dominion (NYSE: D) today denied rumors that surfaced in the market yesterday saying that Dominion is seeking to acquire another energy company. Thos. E. Capps, chairman, president and chief executive officer said: "We usually do not comment on market rumors, but in this case we are making an exception. We are not currently in discussions with anyone regarding an acquisition. This latest rumor appears to have come from the usual source - people attempting to make a quick buck by spreading false rumors. We do not like the idea of hedge funds or traders making a quick buck at our shareholders' expense."

Dominion is one of the nation's largest producers of energy, with an energy portfolio of about 24,000-megawatts of generation, 6.1 trillion cubic feet equivalent of natural gas reserves, 7,900 miles of natural gas transmission pipeline and the nation's largest underground natural gas storage system with more than 960 billion cubic feet of storage capacity. Dominion also serves 3.9 million franchise natural gas and electric customers in five states. In addition, Dominion owns a managing equity interest in Dominion Fiber Ventures LLC, owner of Dominion Telecom. For more information about Dominion, visit the company's web site at www.dom.com.
 

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