SJI Announces Change in Project Timing

South Jersey Industries announced that the opening date for its joint-venture project to construct and operate a thermal energy project to serve the Echelon Resort on the Las Vegas strip would be later than anticipated. Earlier today Boyd Gaming announced that, while remaining fully committed to the Echelon project, it was delaying construction on the project for nine to 12 months. The Boyd Gaming release attributed the delay to “a difficult environment in the capital markets, as well as weak economic conditions.” The construction of the thermal energy facility has been on schedule to date.

“We are disappointed with the announced delay in the project,” said SJI Chairman & CEO Edward Graham. “However, based upon Boyd Gaming’s stated commitment to the Echelon project, we remain confident about its eventual completion,” continued Graham. Under the terms of the non-recourse project financing agreements to construct the energy plant, Boyd Gaming has provided a guaranty of debt service payments for their obligations until the project achieves certain operating performance levels.

About South Jersey Industries

South Jersey Industries (NYSE:SJI – News) is an energy services holding company for utility and non-regulated businesses. A member of the KLD Global Climate 100 Index, SJI offers solutions to global warming through renewable energy, clean technology and efficiency. South Jersey Gas, one of the fastest growing natural gas utilities in the nation, strongly advocates the efficient use of energy while safely and reliably delivering natural gas in southern New Jersey. South Jersey Energy Solutions, the parent of SJI’s non-regulated businesses, provides innovative, environmentally friendly energy solutions that help customers control energy costs. South Jersey Energy acquires and markets natural gas and electricity for retail customers and offers energy-related services. Marina Energy develops and operates energy projects including thermal facilities serving hot and chilled water for casinos, cogeneration facilities and landfill gas-to-electricity facilities. South Jersey Resources Group provides wholesale commodity marketing and risk management services. South Jersey Energy Service Plus installs, maintains and services heating, air conditioning and water heating systems, services appliances, installs solar systems and performs energy audits. For more information about SJI and its subsidiaries, visit http://www.sjindustries.com.