Linda S. Lennox                              Christopher Reardon
Director, Investor Relations                 Manager, Corporate Communications
(908) 719-4222                               (908) 719-4224
llennox@nui.com                              creardon@nui.com


For Immediate Release


         NUI CORP. ANNOUNCES AGREEMENT TO SELL COMPANY TO AGL RESOURCES
          NUI also receives additional $95 million financing commitment

Bedminster, NJ - July 15, 2004 - NUI Corporation (NYSE:NUI) today announced that
it has signed a definitive merger agreement with AGL Resources Inc. (NYSE:ATG)
for AGL Resources to acquire all of the outstanding shares of common stock of
NUI for $13.70 per share in cash, representing a total equity value of
approximately $220 million.

The Boards of Directors of both companies have unanimously approved the merger
agreement. The transaction is subject to approval of NUI shareholders,
regulatory agencies in the states of New Jersey, Florida, Maryland and Virginia
and the Securities and Exchange Commission, clearance under the federal
Hart-Scott-Rodino Act and other customary conditions. The merger is not
conditioned upon AGL Resources' receipt of financing.

"Today's announcement represents the successful realization of the NUI Board of
Directors' plan to sell the company," stated Craig Matthews, NUI's President and
Chief Executive Officer. "This agreement marks a giant step forward for NUI. As
an investment-grade company, AGL Resources brings financial strength to improve
our balance sheet and debt structure. Like NUI, AGL Resources has been operating
gas distribution systems for nearly 150 years, and it maintains a strong
commitment to its employees and customers and has an outstanding record of
involvement in the communities it serves."

Customers of NUI's gas utility operations in New Jersey, Florida, Maryland and
Virginia should see no impact on their service as a result of today's agreement,
according to NUI Utilities' President Victor Fortkiewicz. "In fact, with
continued investments in infrastructure and state-of-the-art technology, we
expect the quality of our customer service to be further enhanced over time,"
Fortkiewicz said.

In addition, NUI has received a commitment from an affiliate of Credit Suisse
First Boston for an additional $95 million in credit facilities. This commitment
is comprised of a $75 million senior secured credit facility to be made
available to NUI Utilities and secured by NUI Utilities' receivables and a $20
million senior unsecured credit facility to be made available to NUI. The NUI
Utilities facility matures on May 15, 2005, and the NUI facility matures on
November 21, 2005. The new facilities are intended to provide NUI and NUI
Utilities with additional liquidity through the close of the sale of the company
and can be utilized to purchase gas for the upcoming winter heating season and
for general corporate purposes. Credit Suisse First Boston's commitment is
subject to various conditions, including the extension of the existing



<PAGE>

credit facilities of NUI and NUI Utilities to November 21, 2005, and the
amendment of the terms of such facilities to allow the new financing. Approval
from the New Jersey Board of Public Utilities and from the lenders under NUI's
existing credit facilities will be required to consummate the proposed
financing. If the proposed new financing and the related financing matters
described above are not completed by September 30, 2004, AGL Resources has the
right to terminate the merger agreement.

Credit Suisse First Boston LLC and Berenson & Company acted as financial
advisors to NUI. White & Case LLP acted as legal advisor to NUI.

Conference Call Information

NUI will hold a live teleconference on Thursday, July 15, 2004, at 11:00 a.m.
EDT. The dial-in number for domestic callers is 1-800-314-7867 and
1-719-867-0640 for international callers. Participants should dial in five
minutes prior to the scheduled start time. A taped replay of the call will be
available on Friday, July 16, 2004, at 8:00 a.m. EDT and ending on Friday, July
23, 2004, at 11:59 p.m. EDT. The dial-in number for the replay is 1-888-203-1112
for domestic callers and 1-719-457-0820 for international callers. The pass code
for the replay is 239758.

A live webcast of the call will be available on NUI's website at www.nui.com.
Choose "Investor Relations" and then select the webcast icon on the Corporate
Overview page. A replay will be available on NUI's corporate website starting
Friday, July 16, 2004, at 8:00 a.m. EDT and ending on Friday, July 23, 2004, at
11:59 p.m. EDT.

About NUI

NUI Corporation, based in Bedminster, NJ, is an energy company that operates
natural gas utilities and businesses involved in natural gas storage and
pipeline activities. NUI Utilities' divisions include Elizabethtown Gas in New
Jersey, City Gas Company of Florida and Elkton Gas in Maryland. For more
information, visit www.nui.com.

About AGL Resources

AGL Resources Inc. is an Atlanta-based energy services holding company. Its
utility subsidiaries - Atlanta Gas Light, Virginia Natural Gas and Chattanooga
Gas - serve more than 1.8 million customers in three states. Houston-based
subsidiary Sequent Energy Management provides natural gas asset management
services, including wholesale trading, marketing, gathering and transportation
services as well as third-party asset management. As a member of the SouthStar
partnership, AGL Resources markets natural gas to consumers in Georgia under the
Georgia Natural Gas brand. For more information, visit www.aglresources.com.

Additional Information and Where to Find It

This press release may be deemed to be solicitation material in respect of the
proposed merger. In connection with the proposed transaction, NUI will file with
the Securities and Exchange Commission (SEC) a preliminary proxy statement
regarding the proposed merger transaction on Schedule 14A. The information
contained in such preliminary filing will not be complete and may be changed.
INVESTORS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT WHEN IT BECOMES
AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION. The definitive proxy statement will be sent to
the stockholders of NUI seeking their approval of the proposed transaction. In
addition, you may obtain these documents free of charge at the website
maintained by the SEC at www.sec.gov. Also, you may obtain documents filed with
the SEC by NUI free of charge by requesting them in



<PAGE>

writing from NUI Corporation, P.O. Box 760, Bedminster, NJ 07921, Attention:
Investor Relations, or by telephone at (908) 719-4223.


Participants in Solicitation

NUI and its directors and executive officers and other members of management and
employees may be deemed to be participants in the solicitation of proxies from
the stockholders of NUI in connection with the merger. Information about NUI's
directors and executive officers and their ownership of NUI's common stock is
included in NUI's Form 10-K, filed with the SEC on May 13, 2004. Additional
information about the interests of NUI's participants in the solicitation of
proxies in respect of the proposed transaction will be included in the proxy
statement when it becomes available.

Forward-Looking Statements

This press release contains forward-looking statements, including statements
related to the potential sale of NUI Corporation and the anticipated additional
financing. These statements are based on management's current expectations and
information currently available and are believed to be reasonable and are made
in good faith. However, the forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from those
projected in the statements. Factors that may make the actual results differ
from anticipated results include, but are not limited to, those factors set
forth in NUI Corporation's Form 10-K, Form 10-Q and its other filings with the
Securities and Exchange Commission; NUI's ability to consummate the sale; the
ability to obtain the regulatory and other approvals required for the
transaction on the terms expected or on the anticipated schedule; the ability of
NUI and NUI Utilities to satisfy the conditions precedent to obtaining the $95
million of financing committed to by an affiliate of Credit Suisse First Boston;
the ability of NUI and NUI Utilities to amend and extend their respective credit
facilities; and other uncertainties, all of which are difficult to predict and
some of which are beyond NUI Corporation's control. For these reasons, you
should not rely on these forward-looking statements when making investment
decisions. The words "expect," "believe," "project," "anticipate," "intend,"
"should," "could," "will," and variations of such words and similar expressions,
are intended to identify forward-looking statements. NUI Corporation does not
undertake any obligation to update publicly any forward-looking statement,
either as a result of new information, future events or otherwise.

                                       ###