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WALL, N.J. – New Jersey Resources (NYSE:NJR) announces that its board of directors has unanimously declared a regular quarterly dividend on its common stock of $.34 per share. The dividend will be payable on July 1, 2005, to shareowners of record on June 15, 2005.

“Our dividend record reflects the consistent results we’ve achieved by focusing on the solid fundamentals of our core energy business and profitable growth in related energy markets,” said Laurence M. Downes, chairman and CEO of NJR. “We’re pleased that our shareowners and all stakeholders continue to benefit from the exceptional value created by our team’s unrelenting pursuit of reliability in all we do.”

For the six months ended March 31, 2005, NJR earned $81.9 million compared with last year’s results of $75.4 million. Basic earnings per share grew to $2.96 per share, compared with $2.75 per share for the same period last year. These earnings are attributable primarily to higher results at both NJR Energy Services, NJR’s unregulated wholesale energy services subsidiary, and NJR Home Services, NJR’s unregulated appliance services subsidiary. Fiscal year-to-date earnings included a $.22 per basic share gain on the sale of a commercial office building and a charge of $.05 per basic share associated with an early retirement program for officers.

In the past nine years, NJR has increased its dividend 10 times. The company has paid quarterly dividends on its common stock since 1952.

New Jersey Resources (NYSE:NJR), a Fortune 1000 company and a member of the Forbes Platinum 400, provides reliable retail and wholesale energy services to customers in New Jersey and in states from the Gulf Coast to New England, and Canada. Its principal subsidiary, New Jersey Natural Gas, is one of the fastest-growing local distribution companies in the United States, serving more than 459,000 customers in central and northern New Jersey. Other major NJR subsidiaries include NJR Energy Services and NJR Home Services. NJR Energy Services is a leader in the unregulated energy services market, providing customer service and management of natural gas storage and capacity assets. NJR Home Services offers retail customers heating, air conditioning and appliance services. NJR’s progress is a tribute to the more than 5,000 dedicated employees who have shared their expertise and focus on quality through more than 50 years of serving customers and the community to make NJR a leader in the competitive energy marketplace. For more information, visit NJR’s Web site at njliving.com.