Pennichuck Corporation is engaged primarily in the collection, storage, treatment and distribution of potable water in New Hampshire. The Company operates in three business segments: regulated water utilities, non-regulated water management services and real estate management and commercialization. During the year ended December 31, 2008, water utility revenues constituted 91% of the Company’s consolidated revenues. Its subsidiaries include Pennichuck Water Works, Inc. (Pennichuck Water), Pennichuck East Utility, Inc. (Pennichuck East), Pittsfield Aqueduct Company, Inc. (Pittsfield Aqueduct), Pennichuck Water Service Corporation (Service Corporation) and The Southwood Corporation (Southwood).