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SouthWest Water Stockholders To Vote On Merger Agreement

 

SouthWest Water Company (Nasdaq:SWWC) today announced that it will hold its 2010 Annual Meeting of Stockholders on August 6, 2010 and will commence the mailing of the notice of meeting and the definitive proxy statement to stockholders on or before July 9, 2010. Matters to be voted on at the annual meeting include the adoption of the merger agreement announced on March 3rd whereby institutional investors advised by J.P. Morgan Asset Management and Water Asset Management, LLC have agreed to acquire the company and stockholders will be entitled to receive $11 per share.

The closing of the merger is conditioned upon approval by the majority of the combined voting power of the outstanding common stock and preferred stock, voting as a single class, as well as the receipt of various regulatory approvals and other conditions. Should the stockholders approve the proposal at the meeting and the other conditions are satisfied, the company anticipates the transaction will close early in the fourth quarter of this year.

Holders of record of the company’s common stock and preferred stock as of the close of business on June 14, 2010 will be entitled to vote at the meeting. SouthWest Water’s board of directors has unanimously determined that the merger agreement is in the best interests of SouthWest Water and its stockholders, and recommends that stockholders vote “FOR” adoption of the merger agreement. Stockholders are encouraged to read the company’s proxy materials in their entirety as they provide, among other things, a detailed discussion of the process that led to the merger agreement and reasons behind the board of directors’ unanimous recommendation. Stockholders with questions about the merger agreement, or who need assistance in submitting their proxy or voting their shares should contact SouthWest Water’s proxy solicitor, Morrow & Co., LLC toll-free at (800) 607-0088 or at (203) 658-9400.

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