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Chesapeake Utilities Corporation To Acquire The Operating Assets Of Eastern Shore Gas

Chesapeake Utilities Corporation is a diversified utility company engaged in natural gas distribution, transmission and marketing; electric distribution; propane gas distribution and wholesale marketing; advanced information services and other related services. Today, Chesapeake, through several divisions and subsidiaries, provides natural gas and propane distribution service to approximately 86,000 customers on the Delmarva Peninsula.  Chesapeake owns and operates a 402-mile interstate pipeline that transports natural gas from various points in Pennsylvania to customers in Delaware, Maryland and Pennsylvania through ESNG, their pipeline transmission subsidiary. Information about Chesapeake's businesses is available on the World Wide Web at

Forward-Looking Statement

This document includes statements that do not directly or exclusively relate to historical facts. Such statements are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements regarding the anticipated successful closing of the transaction and timing of the closing, benefits of the proposed transaction, including growth expected to arise out of the acquisition, and anticipated future financial operating performance and results, including an expectation that earnings will be accretive in 2013 and thereafter. These statements are based on the current expectations of Chesapeake management. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this document. These risks and uncertainties include the following: regulatory approvals required for the transaction may not be obtained, or may delay the transaction or result in the imposition of conditions that could have a material adverse effect or cause the companies to abandon the transaction; conditions to the closing of the transaction may not be satisfied in the time periods expected or at all; problems may arise in successfully integrating Eastern Shore Gas and Eastern Shore Propane; the conversion of Eastern Shore Gas facilities from propane to natural gas may not be feasible, economically or otherwise; synergies may take longer than expected to achieve; the transaction may involve unexpected costs or unexpected liabilities, or accounting for the transaction may be different from the companies' expectations; results of the companies may suffer as a result of uncertainty surrounding the transaction; and other economic, business, and/or competitive factors could adversely impact the purchase.

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