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WALL, N.J. – New Jersey Natural Gas (NJNG), the principal subsidiary of New Jersey Resources (NYSE: NJR), today announced the winners of the 2004 Economic Development Award for Monmouth and Ocean counties. NJNG’s award program honors businesses that demonstrate a positive impact in communities targeted for economic development in the company’s service area.

The Monmouth County winner was the Moonstruck restaurant in Asbury Park. CARQUEST of Lakewood was selected as the winner in Ocean County. The awards were presented at a luncheon hosted by the Monmouth-Ocean Development Council (MODC) in Spring Lake Heights.

“As a reliable partner in our communities’ progress, we’re proud to support new and growing businesses that contribute to the quality of life and economic vitality of our service area,” said Laurence M. Downes, chairman and CEO of NJNG. “We applaud our award winners for their achievements and for making a positive difference,” Mr. Downes said.

Moonstruck, a restaurant co-founded by Luke Magliaro and Howard Raczkiewicz in 1995, moved from Ocean Grove to Asbury Park in 2002. They invested $2 million to renovate a 3-story, 9,000-square-foot building on Lake Avenue for their new location. A popular downtown attraction, Moonstruck employs over 60 people from Asbury Park and nearby communities.

CARQUEST is one of the largest wholesale auto parts companies in North America. Al Sherwin owns and operates three CARQUEST franchises in Ocean County, including CARQUEST of Lakewood. The 6,000-square-foot store opened in Lakewood’s Industrial Park in 2002 and offers customers the option of buying directly from the warehouse. Since then, CARQUEST of Lakewood has grown from three employees to a staff of 12, including senior citizens and individuals from The Association for Retarded Citizens, Ocean County Chapter.

NJNG provides support for the two award recipients through a program that gives eligible businesses a savings on their monthly gas bills. The Economic Development program offers a discount on natural gas as an incentive to attract new businesses, help existing businesses expand and stimulate job growth in areas identified for economic development in NJNG’s service territory. Since its inception in 1993, the program has assisted more than 280 businesses, accounting for over 3,500 new jobs in urban communities.

New Jersey Natural Gas (NJNG) is the principal subsidiary of New Jersey Resources (NYSE: NJR), a Fortune 1000 company and a member of the Forbes Platinum 400. NJNG is one of the fastest-growing local distribution companies in the United States, serving more than 450,000 customers in New Jersey’s Monmouth, Ocean, Middlesex and Morris counties. This service area’s demographics and quality of life contribute greatly to NJNG’s growth. NJNG’s progress is a tribute to the dedicated employees who have shared their expertise and focus on quality through more than 50 years of serving customers and the community to make the company a leader in the competitive energy marketplace. For more information, visit NJNG’s Web site at njliving.com.