January 16, 2003

RICHMOND, Va. - Dominion (NYSE: D) will host its fourth-quarter earnings conference call for investors at 10 a.m. EST on Thursday, January 23. Members of the media are also invited to listen.

Domestic investors who wish to participate in the conference call should dial 877-241-5946. International investors should call 706-643-0540. Participants should dial in 5 to 10 minutes prior to the scheduled start time.

A live web cast of the conference call will be available on the company's investor information page.

A tape recording of the conference call will be available from approximately 1 p.m. EST January 23 through 11 p.m. EST January 30. Domestic investors may access the recording by dialing 800-642-1687. International callers should dial 706-645-9291 to access the recording. The conference ID for the replay is 7551071. A replay of the conference call also will be available on the company's investor information home page by the end of the day January 23.

Dominion is one of the nation's largest producers of energy, with a diversified and integrated energy portfolio consisting of 24,000-megawatts of generation, 5.7 trillion cubic feet equivalent of natural gas reserves, 7,700 miles of natural gas transmission pipeline and more than 960 billion cubic feet of storage capacity. Dominion also serves 3.8 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.

This release contains forward-looking statements that are subject to various risks and uncertainties. Discussion of factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations may include factors that are beyond the company's ability to control or estimate precisely, such as estimates of future market conditions, estimates of proved and unproved reserves and the behavior of other market participants. Other factors include, but are not limited to, weather conditions, economic conditions in the company's service area, fluctuations in energy-related commodity prices, changes to rating agency requirements, changing financial accounting standards, trading counterparty credit risks, risks related to energy trading and marketing, risks associated with successfully executing the telecommunications business plan and other uncertainties. Other risk factors are detailed from time to time in the company's Securities & Exchange Commission filings.

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