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January 5, 2005 at 12:00 AM EST

WGL Holdings' Chairman and CEO to Discuss Progress in Meeting Long-Term Objectives

WGL Holdings' Chairman and CEO to Discuss Progress in Meeting Long-Term Objectives

WASHINGTON, Jan 05, 2005 /PRNewswire-FirstCall via COMTEX/ -- At an investor conference to be held this morning, James H. DeGraffenreidt, Jr., Chairman and Chief Executive Officer of WGL Holdings, Inc. (NYSE: WGL), will highlight the company's fiscal year 2004 results and progress in meeting its long-term financial objectives. Mr. DeGraffenreidt also will report that, although weather during the quarter ended December 31, 2004 (the first quarter of fiscal year 2005) was approximately 2 percent colder than normal, delivered volumes of natural gas were lower than expected. This matter is being evaluated in connection with its potential effect on first quarter and full fiscal year 2005 earnings.

A live Webcast of the company's presentation will be available to the public at 10:15 a.m. Eastern time via a link on the company's Web site, http://www.wglholdings.com. The Webcast will be archived for replay on the WGL Holdings Web site until February 2.

The company will release its first quarter earnings on Thursday, February 3, 2005, and will provide additional information in a live Webcast with investors at 10:30 a.m. Eastern time on February 4, 2005. This live Webcast will also be accessible to the general public via the company's Web site at http://www.wglholdings.com.

Headquartered in Washington, DC, WGL Holdings is the parent company of Washington Gas Light Company, a natural gas utility that serves approximately one million customers throughout metropolitan Washington, DC, and the surrounding region. In addition, it holds energy-related retail businesses that are focused primarily on energy marketing and commercial heating, ventilating and air conditioning services. Additional information about WGL Holdings is available on its Web site, http://www.wglholdings.com.

Note: This news release and other statements by the company may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings, revenues and other future financial business performance or strategies and expectations. Forward-looking statements are typically identified by words such as, but not limited to, "estimates," "expects," "anticipates," "intends," "believes," "plans," and similar expressions, or future or conditional verbs such as "will," "should," "would," and "could." Although the company believes such forward-looking statements are based on reasonable assumptions, it cannot give assurance that every objective will be achieved. Forward-looking statements speak only as of today, and the company assumes no duty to update them.

As previously disclosed in the company's filings with the Securities and Exchange Commission, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: variations in weather conditions from normal levels; variations in customer usage; changes in economic, competitive, political and regulatory conditions and developments; changes in capital and energy commodity market conditions; changes in credit market conditions and creditworthiness of customers and suppliers; changes in relevant laws and regulations, including tax, environmental and employment laws and regulations; legislative, regulatory and judicial mandates and decisions; timing and success of business and product development efforts; technological improvements; the pace of deregulation efforts and the availability of other competitive alternatives; terrorist activities; and other uncertainties. For a further discussion of the risks and uncertainties, see the company's most recent reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission.

SOURCE WGL Holdings, Inc.

News Media: Miguel Gonzalez, office: +1-202-624-6383, pager: +1-202-339-3859, or
Financial Community: Melissa E. Adams, office: +1-202-624-6410, both of WGL Holdings
Inc.
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