2014

Dominion Announces Equity Units Offerings

RICHMOND, Va., June 3, 2013 /PRNewswire/ -- Dominion (NYSE: D) announced today its intention to offer to sell 20 million equity units in two series, each consisting of 10 million equity units, subject to market and other conditions. Each equity unit will be issued in a stated amount of $50 and will consist of a contract to purchase common stock in the future and a 1/20 undivided beneficial ownership interest in a remarketable subordinated note having a principal amount of $1,000. Dominion expects to grant to the underwriters an option to purchase an additional 1 million equity units per series to cover over-allotments.

Dominion intends to use the net proceeds from these offerings for general corporate purposes and to fund its growth plan, including the Cove Point liquefaction project.

BofA Merrill Lynch, Goldman, Sachs & Co., J.P. Morgan Securities LLC and UBS Securities LLC will be joint book-running managers for the offerings.

The offerings will be made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. Any offers of the securities will be made exclusively by means of a prospectus supplement and accompanying prospectus. Copies of these documents may be obtained by contacting BofA Merrill Lynch at 222 Broadway, New York, NY 10038, Attn: Prospectus Department; Goldman, Sachs & Co. at 1-866-471-2526; J.P. Morgan at 1-866-803-9204; or UBS Investment Bank at 299 Park Avenue, New York, NY 10171, Attn: Prospectus Department, Telephone: 1-888-827-7275.

Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 27,000 megawatts of generation, 11,000 miles of natural gas transmission, gathering and storage pipeline, and 6,400 miles of electric transmission lines. Dominion operates one of the nation's largest natural gas storage systems with 947 billion cubic feet of storage capacity and serves retail energy customers in 15 states.

This release contains certain forward-looking statements which are subject to various risks and uncertainties. Factors that could cause actual results to differ from those in the forward-looking statements may accompany the statements themselves. In addition, our business and any offering may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect actual results and are often beyond our ability to control. These factors include, but are not limited to, the prevailing conditions in the public capital markets, interest rates, economic, political and market factors affecting trading volumes, securities prices or demand for our equity and debt securities.  We have identified and will in the future identify a number of additional generally applicable factors in our reports on Forms 10-K, 10-Q and 8-K filed with the U.S. Securities and Exchange Commission. We refer you to those discussions for further information.

SOURCE Dominion



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