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Dominion today announced unaudited consolidated operating earnings for the 12 months ended December 31, 2000 of $787 million ($3.33 per share), a 10.6 percent increase in earnings per share over prior-year earnings of $577 million ($3.01 per share).

Thos. E. Capps, chairman, president and chief executive officer, said:

``2000 was a superb year for Dominion. The merger with Consolidated Natural Gas Company (CNG) has dramatically transformed us into one of the nation's largest and most successful diversified energy companies. Dominion is poised for growth in the new energy marketplace currently taking shape. We are targeting 2001 operating earnings of $4.10 per share, a 23 percent increase over 2000 results. We expect to grow operating earnings by 8 percent to 10 percent annually thereafter...'

Consolidated operating earnings for the fourth quarter ended December 31, 2000 were $144 million (59 cents per share), compared to operating earnings of $65 million (35 cents per share) in the fourth quarter of 1999. Fourth-quarter 2000 earnings exclude after-tax restructuring and merger-related costs of $38 million (15 cents per share).

Always Long,
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