Dominion to Amend Its 2004 Series C 2.125% Convertible Senior Notes Due 2023

RICHMOND, Va., Dec. 4 /PRNewswire-FirstCall/ — Dominion (NYSE: D) today
announced it is amending the terms of its Dominion Resources Inc. Series C
2.125% Convertible Senior Notes (CUSIP: 25746UAT6) and the related
Twenty-Seventh Supplemental Indenture, dated Dec. 1, 2004, by and between
Dominion and The Bank of New York Mellon, as Trustee.

This amendment will be effective on Dec. 16, 2008, the day after the
holders of the Notes have the right to require Dominion to repurchase any or
all of their Notes under the original terms.

The amendment provides the holders of the Notes with call protection by
eliminating Dominion’s current ability to redeem the Notes at its option
before Dec. 16, 2011. The amendment also establishes a new date on which the
holders of the Notes will have the right to require Dominion to repurchase any
or all of their Notes. The new repurchase date is Dec. 15, 2011, which is in
addition to the original remaining repurchase dates of Dec. 15, 2008, Dec. 15,
2013, and Dec. 15, 2018.

Dominion is one of the nation’s largest producers and transporters of
energy, with a portfolio of approximately 27,000 megawatts of generation, 1.1
trillion cubic feet equivalent of proved natural gas and oil reserves, 14,000
miles of natural gas transmission, gathering and storage pipeline and 6,000
miles of electric transmission lines. Dominion operates the nation’s largest
natural gas storage facility with 975 billion cubic feet of storage capacity
and serves retail energy customers in 12 states. For more information about
Dominion, visit the company’s Web site at http://www.dom.com.

SOURCE Dominion