Dominion Resources Inc.

Dominion Resources Inc. plans to sell most of its E&P assets to focus on its power-related businesses. The market estimates the assets' value at more than $10 billion. The assets include properties in the deepwater Gulf of Mexico, West Texas, Midcontinent, Rockies and the Western Canadian Sedimentary Basin. Production is 1.2 billion cubic feet of gas equivalent per day, with proved reserves of 5.5 trillion cubic feet equivalent (76% gas). Dominion will retain its Appalachian Basin properties because of their value to the company's gas pipeline, storage and gathering businesses. The Appalachian properties account for approximately 17% of proved reserves and 8% of Dominion's average daily production. They total 1.1 trillion cubic feet equivalent of reserves. A formal sale process will begin in mid- February with closing expected by mid- 2007. Dominion's E&P assets are managed by its Houston-based subsidiary, Dominion Exploration & Production Inc.