Eighteenth Cash Dividend Increase in Seventeen Years

BRYN MAWR, Pa.–(EMWNews)–Aqua America’s (NYSE:WTR) Board of Directors

today declared an eight percent cash dividend increase to its quarterly

dividend from $0.125 per share to $0.135 per share for the December 1,

2008 dividend for shareholders of record on November 17, 2008. This

increase is equivalent to $0.04 above its current annualized dividend

rate of $0.50 to $0.54.

The Board also declared the regular $0.125 per share quarterly common

stock cash dividend to be paid on September 1, 2008 to shareholders of

record on August 18, 2008. Aqua has paid a consecutive quarterly

dividend for more than 60 years.

This is the tenth consecutive year in which the company has increased

its dividend above the stated five percent target and the eighteenth

increase in 17 years. Aqua America Chairman and CEO Nicholas

DeBenedictis said, “The Board approved this

action after reviewing the company’s annual

business plan. This decision affirms the Board’s

continued confidence in our long-term growth business model despite the

general current state of economic conditions.”

Aqua America, Inc. is a publicly traded water and wastewater utility

with operating subsidiaries serving approximately three million people

in Pennsylvania, New York, Ohio, North Carolina, Illinois, Texas,

Florida, New Jersey, Indiana, Virginia, Maine, Missouri, and South

Carolina. Aqua America is listed on the New York and Philadelphia Stock

Exchanges under the ticker symbol WTR.

This release contains forward looking statements within the meaning of

the Private Securities Litigation Reform Act of 1995, including, among

others, reference to the company’s five-year

plan on growth, capital expenditures and net income. There are important

factors that could cause actual results to differ materially from those

expressed or implied by such forward-looking statements including:

general economic business conditions, unfavorable weather conditions,

the success of certain cost containment initiatives, changes in

regulations or regulatory treatment, availability and the cost of

capital, the success of growth initiatives, and other factors discussed

in our Annual Report on Form 10-K for the fiscal year ended December 31,

2007 which is on file with the SEC. We undertake no obligation to

publicly update or revise any forward-looking statement.

WTRF

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