NEWARK, Del., June 05, 2017 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (NASDAQ:ARTNA) a leading provider
of water and wastewater services, and related services, on the Delmarva Peninsula, announced on June 5, 2017, that its principal
subsidiary, Artesian Water Company, has closed on its purchase of water assets in the Fort DuPont Historic District, New Castle
County, Delaware. This acquisition is the culmination of a public-private partnership between Artesian, the Fort DuPont
Redevelopment and Preservation Corporation, and state and local governments to redevelop and revitalize the 325-acre historic
waterfront community located on the Delaware River between the Chesapeake and Delaware Canal and Delaware City.
The acquisition includes over $1.0 million of investment for the purchase of the existing water treatment plant,
storage tank and water mains serving the Fort DuPont Historic District. Artesian will make improvements to repair, replace and
modernize infrastructure providing potable water and fire suppression services to current and future customers in this area. The
water system currently serves the Governor Bacon Health Center and other state facilities in the surrounding area, including the
Delaware National Guard. Artesian will now be able to extend safe, reliable and high-quality water service and fire protection to
future residents of the planned 600-unit residential community, as well as many anticipated retailers and businesses.
“Artesian’s cooperative efforts with the Fort DuPont Redevelopment and Preservation Corporation, Delaware City
and the State of Delaware on the revitalization of this historic area exemplify the many benefits of robust public-private
partnerships between state and local governments, and partners in the business community to address water infrastructure needs,”
said Dian C. Taylor, Chair, President and CEO of Artesian Resources.
Fort DuPont was actively used as a military base from the Civil War through World War II to protect the cities
and ship building sites of Wilmington, Chester and Philadelphia. Decommissioned and turned over to the State of Delaware in the
1940s, Fort DuPont has served as state surplus and more recently, allured bird-watchers and cyclists for ecotourism and outdoor
recreation.
About Artesian Resources
Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water and wastewater services,
and related services, on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest
regulated water utility on the Delmarva Peninsula and has been providing water service since 1905. Artesian supplies 7.6
billion gallons of water per year through 1,260 miles of water main to approximately 301,000 people.
Contact: Nicki Taylor Investor Relations (302) 453-6900 ntaylor@artesianwater.com
