MDU Resources Shareholders Hear Optimistic Outlook for 2008; Re-elect Three Members to Board of Directors(04/2/2008)  Back to Table of Contents

BISMARCK, N.D. - April 22, 2008 - MDU Resources Group, Inc. (NYSE:MDU) shareholders celebrated a record 2007 and heard an optimistic outlook for another strong year in 2008 at the company's annual meeting today.

Re-elected to one-year terms were: Thomas Everist, president and chairman of The Everist Company in Sioux Falls, S.D.; Karen B. Fagg, president and chairman of HKM Engineering, Inc. in Billings, Mont.; and Patricia L. Moss, president and chief executive officer of Cascade Bancorp and Bank of the Cascades in Bend, Ore.

Shareholders also ratified the selection of Deloitte & Touche LLP as the company's independent auditors for fiscal year 2008.

MDU Resources President and CEO Terry Hildestad noted that the company has withstood a volatile stock market and has outperformed some major indices so far this year. While the S&P 500 is down more than 5 percent year-to-date, MDU Resources' stock price actually has grown more than 4 percent since the beginning of the year.

"When you consider our stock's performance, the company's dependable dividend payment history, and some of our business opportunities this year, I think you will understand why we believe that 2008 is going to be another very good year for MDU Resources," he told shareholders.

Recent acquisitions such as Cascade Natural Gas and natural gas properties in East Texas - the largest two acquisitions in the company's history - will help MDU Resources maintain momentum in 2008, he said.

In addition, Hildestad said that the company is pleased with initial results from its first two wells in the Bakken field in western North Dakota. The Bakken is the hottest oil play in the United States, and the U.S. Geological Survey recently estimated that the Bakken holds more oil than anywhere else it has assessed in the lower 48 states. Hildestad said that the company currently has three rigs working in the Bakken, and is looking at opportunities to accelerate participation beyond the 25 wells originally planned for 2008.

MDU Resources is celebrating several milestones in 2008. This is the company's 60th year of being listed on the New York Stock Exchange, an achievement reached by only 7 percent of companies traded on the Exchange.

This year also marks the 40th anniversary of moving the company's headquarters to Bismarck from Minneapolis. Since that time the company has grown from primarily a utility, with revenues of $48 million and 1,500 employees, into a diversified company with revenues of $4.2 billion and 14,000 employees in peak season.

"If you had invested $1,000 in MDU back in 1968, today it would be worth about $199,000," Hildestad said. "Bismarck is a very good home, and we like to think that both the community and the company have benefited from this move."

MDU Resources Announces Webcast of First Quarter 2008 Earnings Conference Call(04/14/2008)  Back to Table of Contents

BISMARCK, N.D. - April 14, 2008 - MDU Resources Group, Inc. (NYSE:MDU) will webcast its first quarter 2008 earnings release conference call May 2 following the release of its results. Presenting the earnings results and guidance will be MDU Resources' Chief Executive Officer and President Terry D. Hildestad and Executive Vice President, Treasurer and Chief Financial Officer Vernon A. Raile.

The webcast will begin at 1 p.m. EDT and can be accessed at www.mdu.com. A webcast replay and audio replay will be available. The dial-in number for audio replay is (800) 642-1687 or for international callers, (706) 645-9291, conference ID 42706357.

MDU Resources Group, Inc., a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure. The company operates in three core lines of business; energy, construction materials and utility resources. MDU Resources includes natural gas and oil production, natural gas pipelines and energy services, construction materials and contracting, construction services, and electric and natural gas utilities. For more information about MDU Resources, see the company's Web site at www.mdu.com or contact the Investor Relations Department at investor@mduresources.com.

Northwestern To Host First Quarter 2008 Financial Results Conference Call(04/14/2008)  Back to Table of Contents

SIOUX FALLS, S.D. – April 14, 2008 – NorthWestern Corporation d/b/a NorthWestern Energy (NASDAQ-GS: NWEC) today announced that it will host an investor conference call on Thursday, April 24, 2008 at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to review its financial results for the quarter ended March 31, 2008.

The conference call will be webcast live on the Internet at http://www.northwesternenergy.com under the “Investor Information” heading. To listen, please go to the site at least 10 minutes in advance of the call to register. An archived webcast will be available shortly after the call.

A telephonic replay of the call will be available beginning at noon ET on April 24, 2008, through May 24, 2008, at 800-475-6701, access code 919615.

NorthWestern Energy is one of the largest providers of electricity and natural gas in the Upper Midwest and Northwest, serving approximately 650,000 customers in Montana, South Dakota and Nebraska. More information on NorthWestern Energy is available on the Company's Web site at www.northwesternenergy.com.

Otter Tail Corporation Holds 2008 Annual Meeting; Shareholders Elect Directors; Board Declares Quarterly Dividend(04/14/2008)  Back to Table of Contents

FERGUS FALLS, Minn. - Otter Tail Corporation hosted 370 shareholders and guests at its annual meeting of common shareholders on Monday, April 14 in Fergus Falls, Minn. Represented by proxy or present in person at the meeting were 84% of the corporation's total shares outstanding. Shareholders reelected Nathan Partain, and elected James Stake and John Erickson to serve three-year terms on Otter Tail Corporation's board of directors.

Partain has served on the board since 1993. He is president and chief investment officer of Duff & Phelps Investment Management Co. and president, CEO and CIO of DNP Select Income Fund, Chicago. Stake, of St. Paul, Minn., is a recently retired 3M Company executive. He served as 3M's executive vice president of enterprise services and also chaired several 3M committees including risk management and environmental, health and safety. Stake fills the opening created by the retirement of Dennis Emmen, former CFO of Otter Tail Power Company, who served on the board for 24 years. Erickson, Otter Tail Corporation's president and CEO, became a director one year ago by board appointment following another director's retirement.

In his address to shareholders, Erickson said Otter Tail Corporation had a successful year in 2007, with revenues, earnings, stock price and dividends all showing increases. "2007 was a good year for Otter Tail shareholders," he said. "Our stock price increased 11% and, combined with a dividend yield of 3.8%, total shareholder return was 14.8%. This is the third consecutive year of double-digit total shareholder return." The corporation's nonelectric businesses produced 55% of 2007 net income, and Erickson cited strong performance in its manufacturing platform and a turnaround in its potato processing business as key earnings drivers.

Several Otter Tail companies have significant involvement in wind energy, Erickson said. "Otter Tail Power Company now has an ownership stake in the Langdon Wind Energy Center and will continue to add wind resources. DMI, our wind tower manufacturer, is strategically positioned with three plant locations to better serve wind energy developers in Canada and the United States. We have construction subsidiaries working to build and connect wind farm infrastructure, and our trucking company has added heavy haul service to transport larger items such as wind towers. It is an exciting time for us in the wind energy arena, and we have a lot of opportunity ahead."

In a board meeting following the annual meeting, Otter Tail Corporation's board of directors declared a quarterly common stock dividend of 29.75 cents per share. This dividend is payable June 10 to shareholders of record on May 15, 2008. The board also declared quarterly dividends on the corporation's four series of preferred stock, payable on May 31 to shareholders of record on May 15, 2008. The indicated annual dividend rate for 2008 is $1.19 per share, a two-cent increase over the 2007 rate.

Otter Tail Corporation has interests in diversified operations that include an electric utility, manufacturing, health services, food ingredient processing and infrastructure businesses which include plastics, construction and transportation. Otter Tail Corporation stock trades on the NASDAQ Global Select Market under the symbol OTTR. The latest investor and corporate information is available at www.ottertail.com. Corporate offices are located in Fergus Falls, Minn., and Fargo, N.D.

Except for historical information, all other information provided in this presentation consists of "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These "forward-looking statements" are subject to risks and uncertainties which could cause actual results to differ materially from those projected, anticipated, or implied. The most significant of these risks and uncertainties are discussed or identified in Otter Tail Corporation's public filings made with the Securities and Exchange Commission. Otter Tail Corporation undertakes no obligation to publicly update or revise any forward-looking statements.

MDU Resources Reports Positive Initial Results from Bakken Wells(04/07/2008)  Back to Table of Contents

BISMARCK, N.D. - April 7, 2008 - MDU Resources Group, Inc. (NYSE:MDU) has announced that its indirect wholly owned subsidiary, Fidelity Exploration & Production Company, recently completed its first two operated wells in the middle Bakken formation in Mountrail County, N.D.

"We are pleased with the initial results and are still recovering load fluid from the fracture stimulation treatment, but the initial rates from these wells are strong," said Terry D. Hildestad, president and CEO of MDU Resources Group, Inc. "Based on this early success, we have added a third rig and are presently looking at opportunities to further accelerate our drilling of the Bakken acreage for the remainder of the year."

After the fracture stimulation treatment, the Annala 11-36H well's average production over the past five days was 838 barrels of oil per day. The well is flowing up 7-inch casing on a 22/64-inch choke. Fidelity has a 65 percent working interest in this well.

The Fladeland 11-21H well has been fracture stimulated and began flowing to production facilities on April 4. Over the two-day period, the well has produced a total of nearly 1,800 barrels of oil up 7-inch casing on a 24/64-inch choke. Fidelity has a 32 percent working interest in this well.

In addition to these two wells, Fidelity has installed liners in two additional wells that are scheduled for fracture stimulations in the next three weeks. Three additional wells have been spudded and are at various stages of drilling. Fidelity's acreage position in the Bakken play includes approximately 75,000 net acres in Mountrail and Burke Counties of North Dakota.

The information in this release includes certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934.

The forward-looking statements contained in this release, including statements by the president and chief executive officer of MDU Resources, are expressed in good faith and are believed by the company to have a reasonable basis. Nonetheless, actual results may differ materially from the projected results expressed in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the fluctuations in natural gas and crude oil prices; fluctuations in commodity price basis differentials; drilling successes in natural gas and oil operations; the timely receipt of necessary permits and approvals; the ability to contract for or to secure necessary drilling rig contracts and to retain employees to drill for and develop reserves; other risks incidental to the operation of natural gas and oil wells; and the effects on operations of extensive environmental laws and regulations. For a discussion of other important factors that could cause actual results to differ materially from those expressed in the forward-looking statements, refer to Item 1A - Risk Factors in MDU Resources' most recent Form 10-K.

MDU Resources to Present at IPAA's Oil & Gas Investment Symposium(04/04/2008)  Back to Table of Contents

BISMARCK, N.D. - April 3, 2008 - Terry D. Hildestad, president and chief executive officer of MDU Resources Group, Inc. (NYSE:MDU), will present at the 2008 IPAA Oil & Gas Investment Symposium on Monday, April 7 at 3:20 p.m. EDT.

The webcast and the replay can be accessed at www.mdu.com.

MDU Resources Group, Inc., a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure. The company operates in three core lines of business; energy, construction materials and utility resources. MDU Resources includes natural gas and oil production, natural gas pipelines and energy services, construction materials and contracting, construction services, and electric and natural gas utilities. For more information about MDU Resources, see the company's Web site at www.mdu.com or contact the Investor Relations Department at investor@mduresources.com.

Contact: Phyllis A. Rittenbach - Director, Investor Relations -- (701) 530-1057

NorthWestern Files Application to Begin Trading on New York Stock Exchange(04/03/2008)  Back to Table of Contents

SIOUX FALLS, S.D. – April 3, 2008 – NorthWestern Corporation d/b/a NorthWestern Energy (NASDAQ-GS: NWEC) today announced that the Company has filed an application with NYSE Euronext ("NYSE") to move from the NASDAQ Global Select Market to the NYSE and expects to begin trading on the NYSE under the ticker symbol "NWE" on May 1, 2008. The Company will ring the opening bell on Tuesday May 20, 2008, to celebrate the occasion.

"Today marks an exciting new chapter in NorthWestern's long history with the NYSE," said Mike Hanson, President and Chief Executive Officer. "Our return to the NYSE is a testament to NorthWestern's steady stream of strong financial results over the last three years. NorthWestern is well-positioned for growth, and we look forward to continuing our relationship with the NYSE in order to enhance shareholder value. We are confident that listing alongside our peer group on the NYSE will increase NorthWestern's visibility with investors."

"We are pleased to welcome NorthWestern back to our family of listed companies," said Catherine R. Kinney, Group EVP and Head of Global Listings, NYSE Euronext. "We look forward to an outstanding partnership with the company and providing NorthWestern with the superior market quality, brand visibility and information services offered to issuers on the NYSE Euronext."

NorthWestern Energy is one of the largest providers of electricity and natural gas in the Upper Midwest and Northwest, serving approximately 650,000 customers in Montana, South Dakota and Nebraska. More information on NorthWestern Energy is available on the Company's Web site at www.northwesternenergy.com.

Stefan Nilsson Appointed President of DMI Industries(03/31/2008)  Back to Table of Contents

Stefan Nilsson Appointed President of DMI Industries Stefan Nilsson has been named president of DMI Industries, a leading North American manufacturer of wind towers, effective April 1. Headquartered in West Fargo, N.D., DMI is an operating company of Otter Tail Corporation (NASDAQ:OTTR).

Prior to accepting the DMI role, Nilsson was a vice president in the U.S. Robotics Division of ABB Inc., a multinational engineering corporation. ABB provides power and automation technology for utility and industry customers in about 100 countries. The company is also one of the world's largest independent suppliers of internal components, controls and grid connections for wind-generated power projects.

Nilsson held various executive roles at ABB, including in sales, business development, operations and general management. "Stefan brings many facets to DMI, including a strong leadership style that is people-focused, analytical and action-oriented," said Chuck Hoge, DMI CEO and the manufacturing platform vice president at Otter Tail Corporation. "We are fortunate to have him at the helm of DMI."

"I am impressed with DMI's recent expansion activity and excited to help guide the company's strategic direction and future success," Nilsson said. "The wind energy sector holds tremendous opportunity, and DMI will continue to grow as a leader in tower manufacturing."

A native of Sweden, Nilsson moved to the United States more than 20 years ago. He holds a master's in mechanical engineering and received his MBA in International Business Management from the University of Uppsala, Sweden. He will relocate from Michigan to the Fargo area.

DMI is a heavy steel wind tower manufacturer with plants located in North Dakota, Oklahoma and Ontario, Canada. The company also has capabilities to produce equipment for a wide variety of industries, including agricultural processing; ethanol production; oil and gas extraction, processing and refining; and water and waste water processing. For more information, visit www.windtowers.com or www.dmiindustries.com.

Otter Tail Corporation has interests in diversified operations that include an electric utility, plastics, manufacturing, health services, food ingredient processing, transportation and construction. Otter Tail Corporation stock trades on the NASDAQ Global Select Market under the symbol OTTR. The latest investor and corporate information is available at www.ottertail.com. Corporate offices are located in Fergus Falls, Minn., and Fargo, N.D.

Black Hills Corporation issued the attached news releases today(03/20/2008)  Back to Table of Contents

Click the following links to open the releases as PDF's:

BHC ANNOUNCES LEADERSHIP SUCCESSION AT ENERGY MKTG

BHC Obtains CPCN for Wygen III

NorthWestern Corporation Reaches Agreement and Files Motion to Approve Settlement of Litigation with Magten Asset Management and Law Debenture Trust Company of New York(03/19/2008)  Back to Table of Contents

SIOUX FALLS, S.D. – March 18, 2008 – NorthWestern Corporation d/b/a NorthWestern Energy (NASDAQ-GS: NWEC) today announced that a settlement has been reached that would resolve the litigation related to Magten Asset Management's ("Magten") claims in NorthWestern's Chapter 11 bankruptcy case.

NorthWestern has filed a motion with the U.S. Bankruptcy Court for the District of Delaware (the "Motion") for an order authorizing and approving a settlement agreement by and among, inter alia, Northwestern, Magten, Law Debenture Trust Company of New York ("Law Debenture") and the Plan Committee.

The Motion will be heard along with a separate motion to approve an agreement with the Plan Committee providing, among other things, for the reimbursement of certain of NorthWestern’s litigation defense costs, at a hearing scheduled for April 9, 2008. If approved, NorthWestern would receive a reimbursement of previously incurred legal fees of approximately $3.5 million to $4.0 million.

Under the settlement agreement, if approved, the holders of the QUIPS, and Magten and Law Debenture, collectively, will receive approximately $23 million. The payment would come from cash principally funded through the sale of shares of NorthWestern held in the disputed claim reserve established under NorthWestern’s Plan of Reorganization.

It is anticipated that there will be a supplemental distribution from the disputed claim reserve, as soon as is reasonably practicable after the approval of the Motion, to all unsecured creditors and debt holders who have already received an allowed claim distribution of NorthWestern stock or a cash payment. The amount of the supplemental distribution to each of these unsecured creditors and debt holders is not presently known.

"We believe this settlement is in the best interest of NorthWestern and its shareholders as it brings to closure this protracted legal dispute and resolves the last major claim from the 2003 bankruptcy", said Michael J. Hanson, President and Chief Executive Officer.

It is anticipated that NorthWestern’s bankruptcy case will close by the end of 2008.

More information on this filing and all proceedings on this matter can be found at www.kccllc.net/northwestern.

Standard & Poor's Ratings Services Upgrades NorthWestern's Credit Ratings(03/17/2008)  Back to Table of Contents

SIOUX FALLS, S.D. – March 17, 2008 – NorthWestern Corporation d/b/a NorthWestern Energy (NASDAQ-GS: NWEC) today announced that Standard & Poor's Ratings Services ("S&P") upgraded NorthWestern's long-term corporate credit rating, senior secured ratings and senior unsecured rating as follows:

• Senior Secured Rating Montana   From: BBB  To: A-
• Senior Secured Rating South Dakota  From: BBB  To: BBB+
• Senior Unsecured Rating  From: BB-  To: BBB-
• Corporate Rating  From: BB+  To: BBB
• Outlook  From: Positive  To: Stable

S&P cited a steady improvement in the financial profile of the Company as well as a paring of nonregulated operations. S&P also noted that the Company has shown a commitment to focus on regulated utility operations, including managing regulatory risk and resolving pending litigation.

An immediate result of this upgrade will be a decrease by 25 basis points on the interest rate, a 2.5 basis point decrease on the commitment fees, and certain covenants will fall away on NorthWestern's unsecured revolver.

MDU Resources Celebrates 60 Years on NYSE-President and CEO Hildestad to Ring The Opening Bell(03/11/2008)  Back to Table of Contents

BISMARCK, N.D. -- March 11, 2008 -- MDU Resources Group, Inc. (NYSE:MDU) is celebrating 60 years of listing on the New York Stock Exchange. In recognition of this anniversary, President and Chief Executive Officer Terry D. Hildestad will ring The Opening BellSM at 9:30 a.m. EDT Thursday, March 13, at the exchange.

"We're very proud of our long history of providing excellent returns to our shareholders while serving our customers with outstanding products and services," Hildestad said. "We're honored to be ringing The Opening Bell to mark the corporation's 60th year on the New York Stock Exchange."

Only about 7 percent of NYSE-listed companies have been traded on the exchange for more than 60 years.

A webcast of The Opening Bell event will be available at www.mdu.com

NorthWestern Sets Date for Annual Meeting of Stockholders-Declares Dividend of 33 Cents Per Share(02/29/2008)  Back to Table of Contents

SIOUX FALLS, S.D. – Feb. 29, 2008 – NorthWestern Corporation d/b/a NorthWestern Energy (NASDAQ-GS: NWEC) reported that it has established May 21, 2008, as the date for the annual meeting of stockholders to be held in New York. The record date for the annual meeting is March 28, 2008, and pursuant to the provisions of the Company's bylaws, stockholder proposals must be delivered to the Company by March 10, 2008. The proxy statement and annual report to stockholders will be available on the Company's Web site at www.northwesternenergy.com approximately 40 days prior to the meeting date.

NorthWestern's Board of Directors approved a quarterly common stock dividend of 33 cents per share. The dividend is payable on March 31, 2008, to common stockholders of record as of March 15, 2008.

NorthWestern Energy is one of the largest providers of electricity and natural gas in the Upper Midwest and Northwest, serving approximately 650,000 customers in Montana, South Dakota and Nebraska. More information on NorthWestern Energy is available on the Company's Web site at www.northwesternenergy.com.

MDU Resources to Present at Construction Materials Conference(02/27/2008)  Back to Table of Contents

BISMARCK, N.D. - Feb. 27, 2008 - MDU Resources Group, Inc. (NYSE:MDU) will webcast its presentation to the financial community Thursday, March 6, at the 2008 Davenport Buildings Material Conference. MDU Resources' President and Chief Executive Officer Terry D. Hildestad, Executive Vice President, Treasurer and Chief Financial Officer Vernon A. Raile, and William E. Schneider, President and Chief Executive Officer of Knife River Corporation will present a strategic and financial overview.

The webcast will begin at 9:50 a.m. EST and can be accessed at www.mdu.com. A webcast replay will be available.

MDU Resources Group, Inc., a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure. The company operates in three core lines of business; energy, construction materials and utility resources. MDU Resources includes natural gas and oil production, natural gas pipelines and energy services, construction materials and contracting, construction services, and electric and natural gas utilities. For more information about MDU Resources, see the company's Web site at www.mdu.com or contact the Investor Relations Department at investor@mduresources.com.

Northwestern Reports 2007 Year End Financial Results-Reports improvement in net income, gross margin and operating income(02/26/2008)  Back to Table of Contents

Sioux Falls, S.D. – Feb. 26, 2008 – NorthWestern Corporation d/b/a NorthWestern Energy (NASDAQ-GS: NWEC) today reported financial results for the year ended Dec. 31, 2007.

Please click tables to view the 2007 Financial Tables.

• Net income improved to $53.2 million in 2007 compared with $37.9 million in 2006;
• Gross margin improved to $531.7 million in 2007 compared with $519.1 million in 2006;
• Operating income improved to $141.1 million in 2007 compared with $110.4 million in 2006;
• Regulators in South Dakota and Nebraska approved natural gas rate increases totaling $4.6 million annually;
• Filed a proposed settlement with the Montana Public Service Commission that, pending approval, will result in a rate increase of $15 million annually for electric and natural gas rates, and also includes a commitment of 21 MW’s of unit contingent power from Colstrip Unit 4 at Mid-Columbia Electricity Price Index minus $19 per MWh;
• Reached a tentative settlement of the Company’s transmission rate case and recognized $1.6 million in interim rates in 2007. This proposed settlement was filed with the Federal Energy Regulatory Commission (FERC) in February 2008 and will result, pending approval, in an annualized margin increase of approximately $3.0 million.
• The purchase of our interest in Colstrip Unit 4 was completed, resulting in a reduction of lease expense of $22.1 million, offset by increased depreciation of $6.2 million and interest expense of $11.1 million, annually; and
• Standard & Poor’s Rating Group upgraded the Company’s credit outlook to positive from stable.

Consolidated net income was $53.2 million or $1.45 per basic share and $1.44 per diluted share for the year ended Dec. 31, 2007, compared with consolidated net income of $37.9 million or $1.07 per basic share and $1.01 per diluted share for the year ended Dec. 31, 2006.

"We are well poised to move forward on our strategic generation and transmission growth projects thanks to our continued financial progress," said Mike Hanson, NorthWestern Energy’s President and CEO. "In 2007, we generated significant cash from core operations that was used to purchase our previously held leasehold interests in the Colstrip Unit 4 generating plan and to pay down our long-term debt to 49% of total capitalization.

Consolidated gross margin for 2007 was $531.7 million compared with $519.1 million for 2006. Gross margin in the regulated electric segment increased $18.1 million in 2007. Gross margin in the regulated natural gas segment increased $8.7 million in 2007. Gross margin in the unregulated electric segment decreased $10.2 million. Gross margin in the other segment decreased $4.0 million in 2007.

Consolidated operating, general and administrative expenses were $221.6 million in 2007 compared with $240.2 million in 2006. The $18.6 million decrease was primarily due to a $12.6 million recovery of environmental clean up costs included in our South Dakota rate case settlement, higher transaction costs of $12.3 million in 2006 related to the then proposed acquisition of the Company by Babcock and Brown Infrastructure, Ltd. and a reduction in 2007 of lease expense of $11.1 million for the Company’s leased interest in Colstrip Unit 4 generating facility, offset by the inclusion in 2006 results of a $9.3 million reduction in expenses due to an insurance settlement. The Company reclassified the collection of property taxes through the Montana property tax tracker in 2007 resulting in an $11.5 increase to gross margin with a corresponding increase to property tax expense in the same amount. This 2007 reclassification had no impact on earnings comparing 2007 with 2006.

Property and other taxes were $87.6 million in 2007 compared with $74.2 million in 2006. Depreciation expense was $82.4 million in 2007 compared with $75.3 million in 2006. The increase in depreciation expense was related primarily to increased property in service and a $2.0 million increase related to the purchase of the previously leased interest in Colstrip Unit 4.

In February 2007, a jury verdict was rendered against the Company in Montana state court in a case called Ammondson, et al. v. NorthWestern Corporation, et al. Due to the verdict, the Company recognized a loss of $19.0 million in our 2006 results of operations to increase our recorded liability related to this claim.

Interest expense was $56.9 million in 2007 compared with $56.0 million in 2006. The purchase of the leased interest in Colstrip Unit 4 is expected to add approximately $11.1 million in interest expense in 2008.

Regulated electric gross margin for 2007 was $347.0 million, up 5.5 percent, compared with $328.9 million in 2006. This $18.1 million increase was primarily due to increased collections on the Montana property tax tracker, which is offset by a corresponding increase in property tax expense, and increased volumes driven by customer growth and warmer summer weather in Montana.

Regulated retail electric volumes for 2007 totaled 9,953,000 megawatt hours compared with 9,742,000 megawatt hours for 2006. The increase was due primarily to customer growth and warmer summer weather in Montana. Wholesale electric volumes were 155,000 megawatt hours for 2007, an decrease from 248,000 megawatt hours for 2006 due primarily to planned and unplanned maintenance outages in the South Dakota generation facilities.

Regulated natural gas gross margin was $127.6 million for 2007, compared with $118.9 million for 2006. The increase was primarily due to increased amounts collected through the Montana property tax tracker, which is offset by a corresponding increase in property tax expense, increased volumes due to customer growth and colder winter weather in South Dakota and Nebraska and the transfer of certain of our previously unregulated natural gas customers and piplines to the regulated natural gas business.

Regulated retail natural gas volumes were 28,894,000 dekatherms for 2007, compared with 28,093,000 dekatherms for 2006. The increase in volumes was primarily due to customer growth and colder winter weather in South Dakota and Nebraska.

Gross margin from unregulated electric operations was $56.2 million for 2007, a decrease from $66.4 million for 2006 primarily due to lower average contracted prices and higher fuel supply costs in 2007, partially offset by an increase in electric volumes.

Unregulated electric volumes were 1,638,000 megawatt hours in 2007, compared with 1,504,000 megawatt hours in 2006. Electric volumes at Colstrip Unit 4 increased in 2007 compared with 2006 primarily due to strong hydro generation in the Pacific Northwest in 2006 resulting in reduced demand for the Company’s Colstrip power and also in 2006, Colstrip experienced more planned and unplanned outages than in 2007.

During 2007, the Company transferred certain customers and contracts from the unregulated natural gas operations to the regulated natural gas operations. In addition, during 2007 the Company sold a number of unregulated natural gas customer contracts. Therefore, the unregulated natural gas business unit is no longer a reportable segment under FASB Statement No. 131.

As of Dec. 31, 2007, cash and cash equivalents were $12.8 million compared with $1.9 million at Dec. 31, 2006. In addition, the Company had revolver availability of $158.7 million as of Dec. 31, 2007.

Cash provided by continuing operating activities totaled $202.0 million during 2007, compared with $165.1 million during 2006. This improvement in operating cash flows was primarily due to overcollections in the electric tracker, a decrease in purchases of storage gas and an increase in net income from 2006.

The Company’s financing activities provided $65.4 million in 2007. Sources of cash included $68.8 million in proceeds from the exercise of warrants and issuance of $100 million in debt in connection with purchase of the previously leased interest in Colstrip Unit 4. Uses of cash included dividends paid on common stock of $47.3 million during 2007 compared with $44.1 million during 2006 and pay-down of long-term debt in the amount of $53.5 million.

The Company had capital expenditures of $117.1 million during 2007 compared with $101.0 million in 2006. Also, the Company completed the purchase of its leased interest in Colstrip Unit 4 for $141.3 million plus the assumption of $53.7 million in debt.

Northwestern estimates its earnings per share for 2008 to be between $1.60 and $1.75 per fully diluted share. The guidance assumptions for 2008 include:

• Impact of 2007 rate cases in the Company’s service territories, assuming we receive the regulatory approvals in Montana and at FERC;
• Decreased lease expense and increased depreciation and interest expense related to the purchase of the previously leased interest in Colstrip Unit 4;
• Lower average pricing on forward sales contracts and anticipated output volumes of 1.7 million MWH at Colstrip Unit 4;
• Fully diluted average shares outstanding of 39.5 million; and
• Normal weather in the Company’s electric and natural gas service territories for 2008.

NorthWestern will host an investor conference call on Thursday Feb. 28, 2008 at 11:00 am Eastern Time (10:00 a.m. Central Time) to review its financial results for the year ended Dec. 31, 2007.

The conference call will be webcast live on the Internet at http://www.northwesternenergy.com under the "Investor Information" heading. To listen, please go to the site at least 10 minutes in advance of the call to register. An archived webcast will be available shortly after the call.

A telephonic replay of the call will be available beginning at noon ET on Feb. 28, 2008, through March 28, 2008, at 800-475-6701, access code 912551.

Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and other Securities and Exchange Commission filings discuss some of the important risk factors that may affect our business, results of operations and financial condition.

We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

NorthWestern Corporation Conference Call Announcement(02/21/2008)  Back to Table of Contents

YEAR-END 2007 FINANCIAL RESULTS CONFERENCE CALL

A conference call to discuss financial results for the year ended December 31, 2007 will be held:

If you are unable to participate in the conference call as scheduled above, a replay will be available beginning at 1:00 p.m. ET on February 28 through March 28, 2008. To access the replay, dial 800-475-6701, access code 912551.

The call also will be simultaneously broadcast on our Web site at www.northwesternenergy.com, and a replay will be available for 30 days following the conference call.

NorthWestern Energy Announces Filling of Montana Transmission Rate Settlement Agreement(02/20/2008)  Back to Table of Contents

Sioux Falls, S.D. – February 20, 2008 – NorthWestern Corporation d/b/a NorthWestern Energy (NASDAQ-GS: NWEC) today announced that it has filed an agreement with the Federal Energy Regulatory Commission (FERC) that, if approved, would settle the company’s pending transmission rate case before the regulatory body.

The proposed settlement addresses costs associated with providing transmission service and the pass through of costs to provide ancillary services. The settlement revises the transmission rate structure from one based on load ratio share to a stated rate for network customers. Using a stated rate provides rate certainty for transmission customers and NorthWestern Energy.

A transmission rate increase for network and point-to-point customers was filed in October 2006 and made effective in May 2007, subject to refund. This was the first rate filing since rates were last adjusted in 1998. As a result of settlement negotiations with intervening parties, a new stated rate of $3.16/kW per month for reserved capacity will be established for network and point-to-point customers. This agreement does not affect retail customers in Montana because their relevant transmission costs are part of the pending Montana general rate case filing.

The proposed rate for point-to-point customers represents an increase of about 1.94%, which equates to an annual increase in gross margin of approximately $3 million. The company recognized approximately $1.6 million of this increase in gross margin in 2007.

Black Hills Corporation (NYSE:BKH) News(02/15/2008)  Back to Table of Contents

Black Hills Corporation (NYSE:BKH) Year-end 2007 Earnings Release(02/07/2008)  Back to Table of Contents

The Company issued its 2007 earnings release today.

Click Earnings Release PDF to review the report.

Otter Tail Corporation Reports Record Revenues and Net Income from Continuing Operations for 2007; Earnings Per Share of $1.78; Board Approves Dividend Increase(02/06/2008)  Back to Table of Contents

(Please see 4th quarter earnings release financials for additional information to this article at the following link - financial tables.

Otter Tail Corporation (NASDAQ: OTTR) today announced financial results for the quarter and year ended December 31, 2007.

• Consolidated revenues grew 12.1% to a record $1.2 billion in 2007.
• Consolidated net income from continuing operations was a record $54.0 million in 2007 compared to $50.7 million in 2006.
• Total diluted earnings per share were $1.78 for 2007 compared with $1.70 for 2006.

• On February 5, 2008 the Board of Directors declared a quarterly common stock dividend, increasing the dividend to $0.2975 per share from $0.2925 per share. This dividend is payable March 10, 2008 to shareholders of record on February 15, 2008. This increase puts the corporation's current dividend yield at 3.7% based on today's closing stock price of $32.54.
• The Board also declared quarterly dividends on the corporation's four series of preferred stock, payable March 1, 2008 to shareholders of record as of February 15.
• The corporation anticipates its 2008 diluted earnings per share from continuing operations to be in the range of $1.85 to $2.10.

"We are pleased with our 2007 results. Revenues and net income from continuing operations were at record levels," said John Erickson, president and chief executive officer. "Our electric business provided a solid foundation and our nonelectric businesses continued to perform well, led by growth in our manufacturing platform including strong results at DMI Industries, our wind energy tower manufacturer. We are also pleased to report a significant turnaround at our food ingredient processing business. The 2007 results again illustrate the value of our diversification strategy."

Erickson said dividend payments will again increase in 2008. "Our Board of Directors has increased our dividend payment for the 33rd consecutive year. The increase brings the annual indicated dividend rate to $1.19 per share, a $0.02 increase over the 2007 rate."

Segment Performance Summary

Electric

Electric segment revenue and net income were $323.5 million and $24.5 million, respectively, in 2007 compared with $306.0 million and $24.2 million in 2006. The increase in electric revenue was due to a $16.0 million increase in retail revenues and a $1.8 million increase in other electric revenues, offset by a $0.3 million decrease in wholesale and net energy trading revenues.

The increase in retail revenues includes $8.4 million in increased fuel-clause adjustment (FCA) revenues mainly related to an increase in purchased power costs in the fourth quarter of 2007 to replace generation lost during a scheduled major maintenance shutdown of Big Stone Plant. The increase in retail revenues also includes $7.6 million related to a 3.3% increase in retail kwh sales. Residential kwh sales increased 4.0% due, in part, to a 9.6% increase in heating degree days. Increased oil and ethanol production in our electric service territory and surrounding regions contributed to a 3.3% increase in commercial and industrial kwh sales. The $1.8 million increase in other electric revenues is related to an increase in revenues from integrated transmission agreements, reimbursement of system operations costs from the Midwest Independent Transmission System Operator and electric system construction work performed for other companies.

Electric operating expenses increased $21.8 million, which includes increases of $18.2 million in fuel and purchased power expenses and $3.3 million in other operating and maintenance expenses. Fuel costs increased $1.8 million despite a 5.3% decrease in kwhs generated mainly as a result of an 86% increase in generation at the electric utility's higher-cost combustion turbine peaking plants. Purchased power costs to serve retail customers increased $16.4 million, reflecting a 22.1% increase in kwhs purchased for system use combined with a 4.9% increase in the cost per kwh purchased, mainly related to power purchased in the fourth quarter of 2007 to replace generation lost during a scheduled major maintenance shutdown of Big Stone Plant. The increase in electric operation and maintenance expenses in 2007 reflects an increase in expenses related to external contract work, higher labor and benefit costs, rate case related expenditures and increased tree-trimming expenses. The electric utility recorded a non-cash charge in other income and deductions of $3.3 million in the fourth quarter of 2006 related to a reduction in capitalized interest allowed in rate base. The resulting increase in other income and deductions in 2007 was partially offset by a $0.8 million decrease in allowance for equity funds used during construction.

Plastics

Plastics segment revenues and net income were $149.0 million and $8.3 million, respectively, in 2007 compared with $163.1 million and $14.3 million in 2006. The decrease in revenue and net income is due to an 18.8% reduction in plastic pipe sales prices partially offset by a 12.5% increase in pounds of plastic pipe sold and a 12.5% decrease in the cost per pound of pipe sold. The decrease in sales prices reflected a softening of the plastic pipe market, which was expected.

Manufacturing

Manufacturing segment revenues and net income were $381.6 million and $15.6 million, respectively, in 2007 compared with $311.8 million and $13.2 million in 2006. DMI Industries, Inc. recorded a $48.0 million increase in revenue and a $1.4 million increase in net income as a result of increased production levels and productivity gains. DMI's 2007 operating expenses include $2.0 million in pre-production start-up costs for its new plant in Tulsa, Oklahoma. The new plant is on line and started producing towers in January 2008. At ShoreMaster, Inc., revenues increased $15.9 million and net income increased $1.4 million as a result of strong commercial and residential sales. The Aviva Sports product line, acquired by ShoreMaster in February 2007, contributed $3.7 million to the increase in revenues. At BTD Manufacturing, Inc., revenues increased $3.5 million, mainly related to the acquisition of Pro Engineering in May 2007, while net income was unchanged. At T.O. Plastics, Inc., revenues increased $2.4 million while net income decreased $0.4 million mainly due to increases in labor, benefit and depreciation expenses.

Health Services

Health services segment revenues and net income were $130.7 million and $1.4 million, respectively, in 2007 compared with $135.1 million and $2.2 million in 2006. Scanning and other related service revenues decreased $3.2 million while revenues from equipment sales and service decreased $1.2 million. Cost of goods sold decreased $4.5 million. The decreases in equipment sales revenues and cost of goods sold reflect a shift from traditional dealership distribution of products in 2006 to more commission-based compensation for sales to customers in 2007. A $1.2 million increase in operating expenses contributed to the decrease in health services net income.

Food Ingredient Processing

The food ingredient processing segment recorded revenues of $70.4 million and net income of $4.4 million in 2007 compared with revenues of $45.1 million and a net loss of $4.1 million in 2006. The increase in revenue was the result of an increase in pounds of product sold combined with an increase in the price per pound of product sold. The increase in revenue combined with a decrease in the cost per pound of product sold were the main factors contributing to the increase in net income.

Other Business Operations

Other business operations recorded revenues of $185.7 million and net income of $4.0 million in 2007 compared with revenues of $145.6 million and net income of $5.3 million in 2006. Revenues increased $40.2 million at the construction companies due to an increase in construction activity. Construction company net income decreased $1.4 million as a result of lower than expected margins on certain construction projects at Midwest Construction Services. Revenues from flatbed trucking operations remained essentially unchanged while net income increased $0.2 million.

Fourth Quarter Results

Diluted earnings per share for the fourth quarter of 2007 were $0.46 compared with $0.37 for the fourth quarter of 2006. Revenues for the fourth quarter of 2007 were $329.7 million compared with $286.7 million for the same period a year ago. Operating income for the fourth quarter of 2007 was $24.2 million compared with $24.1 million for the fourth quarter of 2006.

Net income was $14.1 million in the fourth quarter of 2007 compared with $11.3 million in the fourth quarter of 2006, with increases in net income in the electric, food ingredient processing and plastics segments more than offsetting decreases in net income in the health services and other business operations segments.

2008 Expectations

• The corporation expects increased levels of net income from the electric segment in 2008. This increase is based on having lower cost generation available for the year, as there are no plant shutdowns planned for Big Stone Plant or Coyote Station in 2008, and on additional rate base investment from the Langdon wind project. The increase also assumes the interim rate increase of $7.1 million, or 5.41%, which is part of the rate case filed with the Minnesota Public Utilities Commission (MPUC). These interim rates remain in effect for all Minnesota customers until the MPUC makes a final determination on the electric utility's request, which is expected to occur by August 1, 2008. If final rates are lower than interim rates, the electric utility will refund customers the difference with interest. If final rate are higher than interim rates, the higher rates will become effective as of the date of the MPUC Order approving those rates.
• The corporation expects the plastics segment's 2008 performance to be at or below normal levels. Announced capacity expansions are not expected to come on line until the fourth quarter of 2008.
• Increased capacity and productivity related to recent expansions and acquisitions, and the start-up of DMI's wind tower manufacturing plant in Tulsa, Oklahoma in 2008, are expected to result in increased levels of net income in the manufacturing segment in 2008. Backlog in place in the manufacturing segment to support 2008 revenues is approximately $295 million compared with $241 million one year ago. The wind energy tower manufacturing business accounts for a substantial portion of the 2008 backlog.
• The health services segment expects improvement in net income in 2008 as it focuses on improving its mix of imaging assets and asset utilization rates.
• The corporation expects its food ingredient processing business to have increased net income due to higher operating margins in 2008. This business has backlog in place for 2008 of 51.5 million pounds compared with 52.8 million pounds one year ago.
• The other business operations segment is expected to have higher earnings in 2008 compared with 2007. Backlog in place for the construction businesses is $77 million for 2008 compared with $74 million for the same period one year ago.
• Corporate general and administrative costs are expected to increase in 2008.

Risk Factors and Forward-Looking Statements that Could Affect Future Results

• The corporation is subject to federal and state legislation, regulations and actions that may have a negative impact on its business and results of operations.
• Actions by the regulators of the electric segment could result in rate reductions, lower revenues and earnings or delays in recovering capital expenditures.
• Future operating results of the electric segment will be impacted by the outcome of a rate case filed in Minnesota on October 1, 2007, requesting an overall increase in Minnesota rates of 6.66%. The filing includes a request for an interim rate increase of 5.41%, which went into effect on November 30, 2007. Interim rates will remain in effect for all Minnesota customers until the MPUC makes a final determination on the electric utility's request, which is expected by August 1, 2008. If final rates are lower than interim rates, the electric utility will refund Minnesota customers the difference with interest.
• Certain costs currently included in the Fuel Clause Adjustment (FCA) in retail rates may be excluded from recovery through the FCA but may be subject to recovery through rates established in a general rate case. Further, all, or portions of, gross margins on asset-based wholesale electric sales may become subject to refund through the FCA as a result of a general rate case.
• Weather conditions or changes in weather patterns can adversely affect the corporation's operations and revenues.
• Electric wholesale margins could be further reduced as the Midwest Independent Transmission System Operator market becomes more efficient.
• Electric wholesale trading margins could be reduced or eliminated by losses due to trading activities.
• The corporation's electric generating facilities are subject to operational risks that could result in unscheduled plant outages, unanticipated operation and maintenance expenses and increased power purchase costs.
• Wholesale sales of electricity from excess generation could be affected by reductions in coal shipments to the Big Stone and Hoot Lake plants due to supply constraints or rail transportation problems beyond the corporation's control.
• The corporation's electric segment has capitalized $8.2 million in costs related to the planned construction of a second electric generating unit at its Big Stone Plant site as of December 31, 2007. Should approvals of permits not be received on a timely basis, the project could be at risk. If the project is abandoned for permitting or other reasons, these capitalized costs and others incurred in future periods may be subject to expense and may not be recoverable.
• The corporation's manufacturer of wind towers operates in a market that has been influenced by the existence of a Federal Production Tax Credit. This tax credit is scheduled to expire on December 31, 2008. Should this tax credit not be renewed, the revenues and earnings of this business could be reduced.
• Federal and state environmental regulation could cause the corporation to incur substantial capital expenditures which could result in increased operating costs.
• Existing or new laws or regulations addressing climate change or reductions of greenhouse gas emissions by federal or state authorities, such as mandated levels of renewable generation or mandatory reductions in carbon dioxide (CO2) emission levels or taxes on CO2 emissions, that result in increases in electric service costs could negatively impact the corporation's net income, financial position and operating cash flows if such costs cannot be recovered through rates granted by ratemaking authorities in the states where the electric utility provides service or through increased market prices for electricity.
• The corporation's plans to grow and diversify through acquisitions and capital projects may not be successful and could result in poor financial performance.
• The corporation's ability to own and expand its nonelectric businesses could be limited by state law.
• Competition is a factor in all of the corporation's businesses.
• Economic uncertainty could have a negative impact on the corporation's future revenues and earnings.
• Volatile financial markets and changes in the corporation's debt rating could restrict the corporation's ability to access capital and could increase borrowing costs and pension plan expenses.
• The price and availability of raw materials could affect the revenue and earnings of the corporation's manufacturing segment.
• The corporation's food ingredient processing segment operates in a highly competitive market and is dependent on adequate sources of raw materials for processing. Should the supply of these raw materials be affected by poor growing conditions, this could negatively impact the results of operations for this segment.
• The corporation's food ingredient processing and wind tower manufacturing businesses could be adversely affected by changes in foreign currency exchange rates.
• The corporation's plastics segment is highly dependent on a limited number of vendors for PVC resin, many of which are located in the Gulf Coast regions, and a limited supply of resin. The loss of a key vendor or an interruption or delay in the supply of PVC resin could result in reduced sales or increased costs for this business. Reductions in PVC resin prices could negatively impact PVC pipe prices, profit margins on PVC pipe sales and the value of PVC pipe held in inventory.
• Changes in the rates or method of third-party reimbursements for diagnostic imaging services could result in reduced demand for those services or create downward pricing pressure, which would decrease revenues and earnings for the corporation's health services segment.
• The corporation's health services businesses may not be able to retain or comply with the dealership arrangement and other agreements with Philips Medical.
• A significant failure or an inability to properly bid or perform on projects by the corporation's construction businesses could lead to adverse financial results.

For a further discussion of other risk factors and cautionary statements, refer to reports the corporation files with the Securities and Exchange Commission.

Brian Gast Named President of E. W. Wylie Corporation(02/05/2008)  Back to Table of Contents

Brian Gast has been appointed president of E.W. Wylie Corporation, a nationwide flatbed and specialized carrier and an operating company of Otter Tail Corporation. The trucking firm is headquartered in West Fargo, North Dakota, and has terminals in Des Moines, Iowa; Denver, Colorado; Minneapolis, Minnesota; and Dallas/Fort Worth, Texas.

Prior to joining E.W. Wylie, Gast was president of Longhorn Transportation, Houston, Texas. He has more than 15 years of transportation experience in leadership roles, including as senior vice president of Burlington Carriers, Indianapolis, Indiana, and CFO of Aasche Transportation, Shannon, Illinois. He also has worked in investment banking and consulting for Deloitte, Haskins and Sells. Gast is a graduate of Northern Arizona University, Flagstaff.

"Brian has the track record of a proven leader and an extensive background in the transportation industry," said E.W. Wylie CEO Shane Waslaski, and a vice president of Otter Tail Corporation. "He brings vision and solid operational and financial expertise to drive success at E.W. Wylie."

"I am excited about the opportunity to work with the talented people of E.W. Wylie and Otter Tail Corporation, and I look forward to building on the strong foundation which exists here," said Gast.

Founded in 1938, E.W. Wylie Corporation has a service territory covering 48 states and six Canadian provinces. The company offers company and owner-operator flatbed-freight hauling, freight brokerage and specialized heavy haul service, and has been recognized as a "Top Ten" flatbed carrier by the American Trucking Association. For more information, visit www.wylietrucking.com.

MDU Resources Announces Analyst Seminar Webcast(01/29/2008)  Back to Table of Contents

BISMARCK, N.D. - Jan. 29, 2008 - MDU Resources Group, Inc. (NYSE:MDU) will webcast its annual investor analyst seminar on March 12 from New York City.

During the analyst seminar, MDU Resources' President and Chief Executive Officer Terry D. Hildestad and Executive Vice President, Treasurer and Chief Financial Officer Vernon A. Raile will be joined by the operating companies' senior management to provide an update on the company's operations strategy and financials.

MDU Resources Announces Analyst Seminar Webcast

The webcast will begin at 8:30 a.m. EDT and conclude at approximately 12:00 p.m. EDT March 12 with access available at www.mdu.com.

Otter Tail Corporation Spotlight Profile: DMI Industries(01/29/2008)  Back to Table of Contents

A new Spotlight profile on DMI Industries and DMI CEO Chuck Hoge has been added to the Otter Tail Corporation website.

Spotlight excerpt:

DMI: Heavy into Wind Tower, Steel Manufacturing

Wind energy development is changing at gale-force velocity.

From stricter quality controls to bigger turbines, from the need to withstand more extreme environmental conditions to rapidly growing demand for renewable energy - all place intense pressure on the manufacturers of wind towers.

DMI Industries, a steel manufacturer based in West Fargo, N.D., is resilient when it comes to winds of change. In less than three years, DMI has responded to industry changes - and anticipated them - by growing from one tower manufacturing plant to three and about 130 employees to 635.

At the same time, the experienced management team has built DMI into one of the nation's leading tower companies, able to anticipate and readily adapt to ever-increasing industry demands. To read the full article, follow this link: www.ottertail.com/press/spotlight_detail.cfm?ReleaseID=284416

Public Utilities Commissioner Johnson picked for national board(01/25/2008)  Back to Table of Contents

PIERRE, S.D. – South Dakota Public Utilities Commissioner Dusty Johnson has been selected to serve on the board of directors of the National Association of Regulatory Utility Commissioners. Johnson was appointed to the post by NARUC president, Commissioner Marsha Smith of the Idaho Public Utilities Commission.

"Commissioner Johnson is stepping up to serve NARUC at a critical time," said Smith. "The board provides the leadership foundation for ensuring that the association is meeting our members’ needs, and I look forward to working with my colleague at this level."

NARUC is a member-driven organization supervised by the board of directors. The board consists of 20 members plus the association’s president, the first and second vice presidents, and each past president who is still an active NARUC member. Members serve four-year terms. As the supervisory body, the board oversees the association's general and financial functions and approves resolutions that serve as the association’s policy.

"Many of the telecommunications and energy issues that we face in South Dakota are really regional, national, or even global in nature," said Johnson. "South Dakota isn’t an island, and we can’t solve those problems on our own. Being on the board of directors is a great opportunity to ensure we tackle those issues in a way that makes sense for our state."

Johnson was elected to the PUC in 2004, becoming the youngest utilities commissioner in the nation. He currently serves on NARUC’s electricity committee and on the Western Interconnection Regional Advisory Board. Johnson is past chairman of the PUC and the South Dakota Rural Development Council.

Other new NARUC board members include New York Public Service Commission Chairman Garry Brown and District of Columbia Public Service Commissioner Rick Morgan.

MDU Resources' 2007 Earnings Grow 37 Percent to Record Level(01/25/2008)  Back to Table of Contents

BISMARCK, N.D. - Jan. 25, 2008 - MDU Resources Group, Inc. (NYSE:MDU) announced record financial results for the year ended Dec. 31, 2007, with consolidated earnings of $431.4 million, compared to $315.1 million for 2006. Earnings per common share, diluted, were $2.36, compared to $1.74 for 2006.

• Earnings per common share increased 36 percent to $2.36.
• Record consolidated earnings of $431.4 million, up from $315.1 million.
• Reiterates earnings guidance for 2008 of $1.65 to $1.90 per common share.

MDU Resources' earnings before discontinued operations were $322.1 million, compared to $307.1 million for 2006. Earnings per common share, diluted, before discontinued operations were $1.76, compared to $1.69 in 2006.

Consolidated earnings for the fourth quarter of 2007 were $94.6 million, compared to $82.4 million for fourth quarter 2006. Earnings per common share, diluted, were 52 cents, 16 percent higher compared to 45 cents for fourth quarter 2006.

"We had a very strong year, and our exceptional results are a testament to the hard work and dedication of our employees," said Terry D. Hildestad, president and chief executive officer of MDU Resources. "Our construction services, utility, and pipeline and energy services businesses all ended the year with record earnings, and our exploration and production business had only a slight decline from record 2006 earnings. The construction materials business experienced a drop in sales volumes largely related to declining housing markets, but our overall record results continue to demonstrate the value of our business diversification strategy."

MDU Resources' construction services group of companies earned 57 percent more in 2007 than its record earnings in 2006. Construction workloads and margins increased, as did equipment sales and rentals. The construction services operations have a record backlog heading into 2008.

MDU Resources' combined electric and natural gas distribution segments also had a record year. Electric operations increased earnings by 23 percent while the natural gas distribution operations more than doubled earnings.

This increase is due to earnings from Cascade Natural Gas Corp., which was acquired in July, as well as higher retail sales volumes and energy-related services margins. The growing contribution of earnings and cash flows from the company's regulated utility operations helps to support its strong track record of paying dividends to shareholders and provides a base of operational stability.

The natural gas and oil exploration and production operations saw a slight decline in year-to-year earnings. Increases in production and oil prices were offset by higher depreciation, depletion and amortization and higher lease operating expenses. The outlook for this group includes a number of opportunities with the pending acquisition of 97 billion cubic feet equivalent of proved reserves in East Texas, as well as exploratory efforts on the company's approximate 75,000 net acres in the Bakken oil play in North Dakota and leaseholds in the Paradox Basin in Utah.

Higher total throughput, including more natural gas moved off system, helped MDU Resources' pipeline and energy services segment reach record results. An increase in storage services revenues and gathering rates also had a positive impact on earnings. Higher operation and maintenance expenses somewhat offset earnings growth as did the absence of a 2006 $4.1 million benefit from the resolution of a rate proceeding.

The slowdown in residential construction created a challenging year for MDU Resources' construction materials operations, resulting in lower product volumes and margins as well as construction margins. Higher margins on asphalt and related products, lower operating costs and earnings from acquisitions helped to counter the decline in sales.

"2007 was a great year for MDU Resources. We provided significant value for our shareholders with a total one-year return of 10 percent and a five-year compound annual return of 22 percent," Hildestad said. "We're looking forward to continuing to provide shareholder value with another strong year in 2008."

The company will host a webcast at 1 p.m. EST today to discuss earnings results and guidance. The event can be accessed at www.mdu.com. A replay will be available. An audio replay also will be available by calling (800) 642-1687, or (706) 645-9291 for international callers. The conference ID is 30212387.

MDU Resources Group, Inc., a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, operating in three core lines of business: energy, construction materials and utility resources. MDU Resources includes natural gas and oil production, natural gas pipelines and energy services, construction materials and contracting, construction services, and electric and natural gas utilities. For more information about MDU Resources, see the company's Web site at www.mdu.com or contact the Investor Relations Department at investor@mduresources.com.

Financial Contacts:
Vernon A. Raile, executive vice president, treasurer and chief financial officer, (701) 530-1003 Phyllis A. Rittenbach, director of investor relations, (701) 530-1057

Media Contact:
Rick Matteson, director of communications and public affairs, (701) 530-1700

The following information highlights the key growth strategies, projections and certain assumptions for the company and its subsidiaries and other matters for each of the company's businesses. Many of these highlighted points are "forward-looking statements." There is no assurance that the company's projections, including estimates for growth and changes in earnings, will in fact be achieved. Please refer to assumptions contained in this section, as well as the various important factors listed at the end of this document under the heading "Risk Factors and Cautionary Statements that May Affect Future Results." Changes in such assumptions and factors could cause actual future results to differ materially from targeted growth, revenue and earnings projections.

On a consolidated basis, the following information highlights the key growth strategies, projections and certain assumptions for the company:

• Earnings per common share for 2008, diluted, are projected in the range of $1.65 to $1.90. The company expects the percentage of 2008 earnings per common share, diluted, by quarter to be in the following approximate ranges:
  • First quarter - 15 percent to 20 percent
  • Second quarter - 20 percent to 25 percent
  • Third quarter - 30 percent to 35 percent
  • Fourth quarter - 25 percent to 30 percent
• Long-term compound annual growth goals on earnings per share from operations are in the range of 7 percent to 10 percent.
• Capital expenditures for 2007, including $475 million for the Cascade acquisition, and estimated capital expenditures for 2008, are noted as follows. Estimated capital expenditures for 2008 include the pending acquisition of natural gas production assets in East Texas for approximately $235 million.

Earnings at this segment were $142.5 million for 2007, compared to $145.7 million for 2006. Combined natural gas and oil production increased 4 percent and average realized oil prices increased 17 percent. These positive variances were offset by higher depreciation, depletion and amortization expenses, higher lease operating expenses and slightly lower realized natural gas prices. Lease operating expenses increased as a result of higher water treatment costs in the coalbed properties, as well as higher costs associated with the Big Horn properties acquired in May 2006 and higher service-related costs.

Fourth quarter earnings were $43.5 million, compared to $38.4 million for the same period in 2006. Combined natural gas and oil production increased 5 percent, average realized oil prices increased 63 percent and average realized natural gas prices increased 3 percent. These increases were partially offset by higher depreciation, depletion and amortization expenses and higher lease operating expenses. Also, fourth quarter 2006 results reflect the favorable resolution of certain tax matters and related interest income in the amount of $4.5 million (after tax).

The company's combined proved natural gas and oil reserves as of Dec. 31 were 707 Bcfe, which included 110 Bcfe of reserve additions and 27 Bcfe of negative reserve revisions.

The company recently signed a purchase and sale agreement to acquire natural gas properties in East Texas. These properties include 97 Bcfe of proved reserves with additional unproved reserve potential. Current net production from these assets is approximately 17.5 million cubic feet equivalent per day. The purchase price for these properties is $235 million, or $2.42 per thousand cubic feet equivalent of proved reserves, subject to accounting and purchase price adjustments customary with acquisitions of this type. The effective date of the acquisition is Jan. 1, with closing expected by Jan. 31.

• The company expects a combined natural gas and oil production increase in 2008 in the range of 12 percent to 16 percent over 2007 levels. Meeting these targets will depend on the timely receipt of regulatory approvals, the success of exploration activities and successful completion of the acquisition of natural gas production assets in East Texas.
• The company expects to participate in more than 375 wells in 2008. Specifically, in the Rocky Mountain Region, the company expects to drill approximately 240 operated wells (approximately 195 net wells) in the areas of Baker, Bowdoin, Powder River Basin coalbed and Big Horn Basin, and to participate in 30 or more wells in the Bakken and Paradox Basin areas, dependent upon success. Also included in the 375 wells are 25 wells to further develop the properties associated with the acquisition of natural gas production assets in East Texas.
• The company is pursuing exploratory drilling in the Bakken play in North Dakota and the Paradox Basin in Utah. Its acreage position in the Bakken play includes approximately 75,000 net acres in Mountrail and Burke counties. The first well is scheduled for completion in February. The company's first well in the Paradox Basin began producing in mid-November. The company owns approximately 57,000 net acres in the Paradox Basin.
• The company is pursuing continued reserve growth through the further exploitation of its existing properties, exploratory drilling and acquisitions of properties.
• Earnings guidance reflects estimated natural gas prices for February through December as follows:

During 2007, more than three-fourths of natural gas production was priced at non NYMEX prices, the majority of which was at Ventura pricing.

• Earnings guidance reflects estimated NYMEX crude oil prices for February through December in the range of $75 to $80 per barrel.
• For 2008, the company has hedged approximately 30 percent to 35 percent of its estimated natural gas production and less than 5 percent of its estimated oil production. For 2009, the company has hedged less than 5 percent of its estimated natural gas production. The hedges that are in place as of Jan. 24 for 2008 and 2009 are summarized in the following chart:

The pipeline and energy services segment reported record earnings of $31.5 million for 2007, compared to $30 million for 2006. Total throughput increased 7 percent, including a 59 percent increase in volumes transported off system as well as higher gathering volumes. Higher storage services revenues and higher gathering rates also added to the increase. Partially offsetting the increase were higher operation and maintenance expenses. The 2006 results reflect the benefit from the resolution of a rate proceeding in the amount of $4.1 million (after tax), which is reflected as a reduction to depreciation, depletion and amortization expense.

Earnings for fourth quarter 2007 were $10.2 million, compared to $12.7 million for fourth quarter 2006. The decrease is the result of the absence of the rate proceeding resolution benefit mentioned above, partially offset by an 8 percent increase in total throughput.

• Based on anticipated demand, incremental expansions to the Grasslands Pipeline are forecasted over the next few years. Through additional compression, the pipeline firm capacity could ultimately reach 200,000 Mcf per day, an increase from the current firm capacity of 138,000 Mcf per day.
• In 2008, total gathering and transportation throughput is expected to be slightly higher than 2007 record levels.

The construction materials and contracting segment reported earnings of $77 million for 2007, compared to record earnings a year ago of $85.7 million.

Product volumes and margins as well as construction margins were lower, largely the result of the slowdown in the residential construction sector. Product volumes from existing operations decreased 14 percent to 20 percent.

Partially offsetting these items were higher margins from asphalt and related products, lower operating costs from the implementation of cost-reduction strategies and earnings from acquisitions.

Fourth quarter earnings were $10.9 million, compared to $16.8 million for the same period in 2006. Product volumes and margins as well as construction margins were lower. Product volumes from existing operations decreased 15 percent to 25 percent. Partially offsetting the unfavorable variances were lower general and administrative expenses.

• A key long-term strategic objective is to further expand, through acquisitions, the company's presence in the higher-margin materials business, including rock, sand, gravel, liquid asphalt, ready-mix concrete and related products, which would complement and expand on the company's expertise.
• The cyclical impact resulting from the downturn in the residential housing sector is expected to be lessened by a continued emphasis on operational improvement strategies. In addition, ongoing efforts to increase margin are being pursued through the execution of national purchasing accounts for equipment, parts and commodities such as liquid asphalt, diesel fuel, cement and other materials, as well as negotiation of contract price escalation provisions.
• The company anticipates margins in 2008 to be comparable to 2007.
• Work backlog as of Dec. 31 was approximately $462 million, compared to $483 million at Dec. 31, 2006.
• The company has 1.2 billion tons of strategically located aggregate reserves, a key element of its vertical integration strategy. The company is actively pursuing opportunities to grow its reserve base.

The construction services segment had record earnings of $43.8 million, a 57 percent increase over the previous year's $27.8 million, on revenue growth of 12 percent. This increase reflects higher construction workloads and margins as well as continued expansion of equipment sales and rentals. The construction services business has record backlog that is 57 percent higher than a year ago.

Earnings for the fourth quarter were $9.9 million, more than double fourth quarter 2006 earnings. This increase reflects higher construction workloads and margins.

• The company anticipates margins in 2008 to be slightly lower than 2007.
• The company continues to focus on costs and efficiencies to enhance margins.
• Work backlog as of Dec. 31 was approximately $827 million, compared to $527 million at Dec. 31, 2006.

The combined utility businesses reported record earnings of $31.7 million, compared to earnings of $20.1 million for 2006. Contributing to the earnings increase was the July acquisition of Cascade, higher retail sales volumes and higher energy-related services margins.

For the fourth quarter, earnings were $17.7 million, compared to $9.6 million for fourth quarter 2006. The increase is from the Cascade acquisition.

Bruce T. Imsdahl, president and chief executive officer of Montana-Dakota, plans to retire June 5 after a 38-year career with the utility. He also will retire from his positions as president and chief executive officer of Great Plains Natural Gas Co. and chief executive officer of Cascade. David L. Goodin, a career long company employee and president of Cascade, has been named to succeed Imsdahl as president of all three utilities effective March 1.

In late December, the company brought on line newly constructed wind-powered electric generation near Baker, Mont. The project includes 13, 1.5-megawatt wind turbines and is expected to be rate based. All 13 turbines are expected to be energized and commissioned by Jan. 31.

• The company is analyzing potential projects for accommodating load growth and replacing an expired purchased power contract with company-owned generation, which will add to base-load capacity and rate base. A final decision on the Big Stone II project will be made when major permits are issued and certain regulatory approvals are obtained, which is expected by mid-to-late 2008. The plant is projected to be completed in 2013. The company anticipates it would own at least 116 MW of this plant or other generation sources.
• In July, Montana-Dakota filed an electric rate case with the Montana Public Service Commission requesting an increase of $7.8 million annually, or approximately 22 percent above current rates. The company requested a fuel and purchased power tracking adjustment and an off system sales margin sharing adjustment. The company also requested an interim increase of $3.9 million annually. In December, an interim increase of $3.4 million annually, subject to refund, was approved by the commission. Negotiation to reach a potential settlement is ongoing. A final order is expected by May 2008.
• This business continues to pursue expansion of energy-related services and expects continued strong customer growth in Washington and Oregon.

In July, the company closed on the sale of its domestic independent power production business consisting of Centennial Power, Inc. and Colorado Energy Management, LLC to Bicent Power LLC (fka Montana Acquisition Company LLC). Earnings for the year were $104.9 million including a $91.5 million (after tax) gain on the sale of the domestic independent power production business.

The information in this release includes certain forward-looking statements, including earnings per share guidance and statements by the president and chief executive officer of MDU Resources, within the meaning of Section 21E of the Securities Exchange Act of 1934. Although the company believes that its expectations are based on reasonable assumptions, actual results may differ materially. Following are important factors that could cause actual results or outcomes for the company to differ materially from those discussed in forward-looking statements.

• The company's natural gas and oil production and pipeline and energy services businesses are dependent on factors, including commodity prices and commodity price basis differentials, which are subject to various external influences that cannot be predicted or controlled.
• The construction, startup and operation of power generation facilities may involve unanticipated changes or delays that could negatively impact the company's business and its results of operations.
• Economic volatility affects the company's operations, as well as the demand for its products and services and, as a result, may have a negative impact on the company's future revenues.
• The company relies on financing sources and capital markets. If the company is unable to obtain economic financing in the future, the company's ability to execute its business plans, make capital expenditures or pursue acquisitions that the company may otherwise rely on for future growth could be impaired.
• Actual quantities of recoverable natural gas and oil reserves and discounted future net cash flows from those reserves may vary significantly from estimated amounts.
• Some of the company's operations are subject to extensive environmental laws and regulations that may increase costs of operations, impact or limit business plans, or expose the company to environmental liabilities.
• One of the company's subsidiaries is subject to ongoing litigation and administrative proceedings in connection with its coalbed natural gas development activities. These proceedings have caused delays in coalbed natural gas drilling activity, and the ultimate outcome of the actions could have a material negative effect on existing coalbed natural gas operations and/or the future development of its coalbed natural gas properties.
• The company is subject to extensive government regulations that may delay and/or have a negative impact on its business and its results of operations.
• The value of the company's investments in foreign operations may diminish due to political, regulatory and economic conditions and changes in currency exchange rates in countries where the company does business.
• One of the company's subsidiaries is engaged in litigation with a nonaffiliated natural gas producer that has been conducting drilling and production operations that the subsidiary believes is causing diversion and loss of quantities of storage gas from one of its storage reservoirs. If the subsidiary is not able to obtain relief through the courts or the regulatory process, its storage operations could be materially and adversely affected.
• Weather conditions can adversely affect the company's operations and revenues.
• Competition is increasing in all of the company's businesses.
• Other factors that could cause actual results or outcomes for the company to differ materially from those discussed in forward-looking statements include:
  • Acquisition, disposal and impairments of assets or facilities.
  • Changes in operation, performance and construction of plant facilities or other assets.
  • Changes in present or prospective generation.
  • The availability of economic expansion or development opportunities.
  • Population growth rates and demographic patterns.
  • Market demand for, and/or available supplies of, energy- and construction-related products and services.
  • The cyclical nature of large construction projects at certain operations.
  • Changes in tax rates or policies.
  • Unanticipated project delays or changes in project costs, including related energy costs.
  • Unanticipated changes in operating expenses or capital expenditures.
  • Labor negotiations or disputes.
  • Inability of the various contract counterparties to meet their contractual obligations.
  • Changes in accounting principles and/or the application of such principles to the company.
  • Changes in technology.
  • Changes in legal or regulatory proceedings.
  • The ability to effectively integrate the operations and the internal controls of acquired companies.
  • The ability to attract and retain skilled labor and key personnel.
  • Increases in employee and retiree benefit costs.

For a further discussion of these risk factors and cautionary statements, refer to Item 1A - Risk Factors in the company's most recent Form 10-K and Form 10-Q.

State's telecommunications companies protect consumer information(01/24/2008)  Back to Table of Contents

PIERRE, S.D. – The South Dakota Public Utilities Commission is pleased the telecommunications industry is continuing to address consumer privacy issues with processes that provide greater security for account information.

Telecommunications companies began notifying customers late last year about new rules from the Federal Communications Commission that put greater safeguards on their account information. According to the new policy, representatives of telecommunications companies may discuss account information only with individuals listed on the account. Companies are advising customers that account holder verification, such as a photo ID or answering specific confirmation questions, is necessary before access to account information is allowed.

Customers may update their account information to help work through many of the new barriers created by the additional safeguards. For example, if only one spouse is listed on the account, a couple may wish to have the other spouse added. Another scenario where a change may be beneficial is when a parent or individual relies on someone else to assist with payments and other personal business matters. When a customer has that trusted person added to the account, company customer service representatives will be able to quickly and efficiently handle inquiries and changes.

"South Dakota telecommunications companies are stepping up their efforts to protect their customers' private account information," said PUC Chairman Gary Hanson. "Consumer protection must be a top priority and this extra layer of security will help to ward off pretexting, where unauthorized individuals obtain other persons' private records,'" he said.

"The telecommunications companies are addressing new threats in an appropriate way," commented PUC Vice Chairman Steve Kolbeck. "Though the extra security step may seem like a minor inconvenience to customers, the bottom line is the companies are being diligent in protecting private information."

"Consumer privacy is a big deal to the PUC," said Commissioner Dusty Johnson. "We addressed the issue of pretexting with legislation in 2006 that makes it a crime to falsely obtain, buy or sell confidential telephone records. It's good business on the part of the companies to further ensure they will protect their customers' information," he concluded.

Customers with questions about this change should contact their telecommunications provider for more information.

Northwestern Energy Retains Credit Suisse To Explore Strategic Options For Its Ownership Interest In Colstrip Unit 4(01/24/2008)  Back to Table of Contents

Sioux Falls, S.D. – January 25, 2008 – NorthWestern Corporation d/b/a NorthWestern Energy (NASDAQ-GS: NWEC) announced today that it has retained Credit Suisse as financial advisor to assist the Company in its evaluation of strategic options with respect to the Company's 222 MW interest in the 740 MW Colstrip Unit 4 coal fired steam electric generation unit.

For more information on NorthWestern Energy, please visit our Website at www.northwesternenergy.com.

Northwestern Energy Announces Site Selection For Proposed Electric Generation Plant(01/24/2008)  Back to Table of Contents

Butte, Mont. – January 24, 2008 – NorthWestern Corporation d/b/a NorthWestern Energy (NASDAQ-GS: NWEC) is considering a site east of Anaconda, Montana for a proposed natural gas fired electric generation facility. The facility under consideration would provide regulating reserves within the company's transmission control area and must be approved by the MT Public Service Commission prior to the company committing to construction.

The site selection is the first of many remaining steps necessary to determine the viability of the project. The company must still obtain competitive bids for generation equipment and submit all of the necessary environmental permitting applications before determining the actual size of the project and whether it is economically viable. If, after further analysis, the project is deemed appropriate, it will be submitted to the Montana Public Service Commission in the spring or early summer for review and approval.

"There's still much work to be done; however, the site selection is necessary before proceeding with technology and environmental evaluations. Our independent engineering firm evaluated several possible sites in Montana and we chose the Mill Creek site due to the proximity and availability of electric and gas transmission facilities, access to rail and water supply," said Bill Rhoads, Director - Montana Production.

Dave Gates, Vice President - Wholesale Operations added that the proposed plant, adjacent to the company's Mill Creek Substation, would be built and operated in full compliance with Montana environmental statues and meet or exceed all air and water quality standards. The power from the plant would be used to balance the company's transmission system and to provide the ancillary services needed to integrate the company's existing and any additional wind energy that may be added to NorthWestern's portfolio of electric supply resources. The exact size of the proposed plant has yet to be determined pending technology and environmental evaluations, but the range under consideration is 120 – 220 MW with an estimated cost in excess of $100 million.

NorthWestern Energy operates a 7,000-mile high voltage transmission system that requires adequate reserve capacity to maintain federal reliability standards. Currently, the company must purchase and import these services from utilities in the northwestern US and Canada. Until recently the company was not allowed to own rate-based generation resources. The market availability of regulating reserve capacity is shrinking throughout the region because utilities are now using more of their own regulating reserve capacity for projects on their own systems.

The Shaw Group/Stone and Webster is providing the engineering and technical analysis on the project while Bison Engineering, a Helena firm, has been hired as the environmental consultant. The project description and maps of the proposed site is available to the public on the company's Website at www.northwesternenergy.com.

Dave Goodin named president of Montana-Dakota Utilities and Great Plains Natural Gas (01/22/2008)  Back to Table of Contents

BISMARCK, N.D. - JAN. 22, 2008 - David L. Goodin has been named president of Montana-Dakota Utilities Co. and Great Plains Natural Gas Co., effective March 1, MDU Resources Group president and chief executive officer Terry D. Hildestad announced today. Goodin also will continue as president of Cascade Natural Gas Co.

In his new positions, Goodin succeeds Bruce T. Imsdahl, who has announced that he plans to retire on June 5. Imsdahl will remain chief executive officer of all three utilities until then.

"Dave has done an outstanding job of integrating Cascade as part of the MDU Resources utility business." Hildestad said. "He has broad utility experience and a great team to work with. Dave will do an outstanding job of leading our utilities, which together serve about 500,000 natural gas customers and 120,000 electric customers in five Upper Midwest states, Washington and Oregon."

Goodin joined Montana-Dakota Utilities in 1983 as an electrical engineer and advanced through a number of positions. He was promoted to vice president of operations in 2000, and in January 2007 was named executive vice president of operations and acquisitions. In July 2007 he was named president of Cascade after MDU Resources acquired the company.

He is a member of the executive committee of the North Central Electric Association, and has a long history of civic involvement, including Chambers of Commerce, the MSU-Billings College of Business Advisory Board and the YMCA.

Goodin has an undergraduate degree in electrical and electronics engineering from North Dakota State University and a master's degree in business administration from the University of North Dakota. He completed the Harvard Advanced Management Program in 2006. He also is a registered professional engineer. Goodin and his wife, Pat, have three daughters.

MDU Resources Group, Inc., a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, operating in three core lines of business: energy, construction materials and utility resources. MDU Resources includes natural gas and oil production, natural gas pipelines and energy services, construction materials and mining, construction services, and electric and natural gas utilities. For more information about MDU Resources, see the company's Web site at www.mdu.com or contact the Investor Relations Department at investor@mduresources.com.

Montana-Dakota Utilities Co. President and CEO Bruce Imsdahl Announces Retirement(01/17/2008)  Back to Table of Contents

BISMARCK, N.D. - JAN. 17, 2008 - Bruce T. Imsdahl, president and chief executive officer of Montana-Dakota Utilities Co., announced today that he plans to retire on June 5 after a 38-year career with the utility. He also will retire from his positions as president and chief executive officer of Great Plains Natural Gas Co., and chief executive officer of Cascade Natural Gas Co.

"Bruce has done a tremendous job for the company," said Terry D. Hildestad, president and chief executive officer of MDU Resources Group, Inc. "His entire career was dedicated to our utility business and to serving our customers. He has played an important role in Montana-Dakota Utilities success, and in the growth of our utilities into a business that now serves more than 500,000 natural gas customers and 120,000 electric customers.

"Bruce is widely respected within the industry, as well as by employees. He leaves the company in a strong financial position and well-prepared for continued success."

Imsdahl joined Montana-Dakota Utilities in 1970 as a staff engineer at the Lewis & Clark Generating Station. He advanced through a number of positions and was named vice president-power supply in 1989. In 1991 he became vice president-energy supply. Imsdahl was named executive vice president of utility operations early in 2003, and later that year became president of both Montana-Dakota and Great Plains. He assumed responsibility as chief executive officer of both utilities in November 2004, and was named chief executive officer of Cascade when MDU Resources acquired that company in 2007.

He is a member of the board of directors of the American Gas Association, the Edison Electric Institute and the Lignite Energy Council, and is a member of the North Dakota Energy Research Council.

Imsdahl, a registered professional engineer, is a graduate of North Dakota State University with a B.S. in mechanical engineering, and participated in the management program for executives at the University of Pittsburgh. He and his wife, Lynn, live in Bismarck, and have two children and four grandchildren.

Black Hills Corporation's Chief Financial Officer Resigns(01/16/2008)  Back to Table of Contents

RAPID CITY, SD—January 16, 2008—Black Hills Corporation (NYSE: BKH) announced that Mark T. Thies, the Company's Executive Vice President and Chief Financial Officer, has resigned, effective January 18, 2008.

"My years with Black Hills Corporation were challenging and fulfilling. I have made the decision to resign, however, and for reasons including personal considerations and my health, I will not be able to provide a transition for the Company and for my replacement," stated Mr. Thies.

An executive search firm has been retained to assist in the selection of a new CFO. In the interim, the corporate duties formerly fulfilled by Mr. Thies will be assumed by David R. Emery, Chairman, President and Chief Executive Officer of the Company.

Emery said, "On behalf of our Company, I thank Mark for his ten years of dedicated service and wish him the best in his future endeavors."

PUC's Hanson joins regional regulatory executive committee(01/16/2008)  Back to Table of Contents

PIERRE, S.D. – South Dakota Public Utilities Commissioner Gary Hanson was elected as treasurer of the 15-state Organization of MISO States (OMS) at the group's annual meeting in December. His term as treasurer will extend through 2008.

The OMS is a regulatory oversight and advisory group made up of state public utility officials from the 15 states and one Canadian province served by the Midwest Independent Transmission System Operator (MISO). The organization represents the interests of its members on issues before the MISO board of directors, the Federal Energy Regulatory Commission, and other governmental agencies. OMS members primarily focus their discussion and advice on electrical transmission issues relating to pricing, market monitoring, generation and transmission needs within the region.

Hanson has represented South Dakota in the OMS since 2003. "As a member of the OMS, I have been involved in working through the challenges of the region's electric transmission capacity availability while keeping rates low and reasonable," Hanson said. "Now, as a member of the executive committee, I look forward to being even more active, particularly as transmission issues for wind power are examined," he stated.

Other OMS officers elected at the meeting include John Norris of the Iowa Utilities Board as president, Dan Ebert of the Wisconsin Public Service Commission as vice president, and Valerie Lemmie of the Public Utilities Commission of Ohio as secretary.

Black Hills Corporation Announces Commencement of Wygen II Power Plant Commercial Operations For Cheyenne Light Customers(01/10/2008)  Back to Table of Contents

RAPID CITY, SD - January 10, 2008 - Black Hills Corporation (NYSE: BKH) announced today that its newest power plant entered into commercial service on January 1, 2008, as anticipated.

The 95-megawatt, coal-fired base load Wygen II plant is owned by the Company's Cheyenne Light, Fuel & Power subsidiary. In November 2007, the Wyoming Public Service Commission approved a new rate structure for Cheyenne Light, effective January 1, 2008, which placed Wygen II into rate base. The Commission approved general increases of $6.7 million for electric rates and $4.4 million for natural gas rates, reflecting increased costs of providing service. The approval stipulates an allowed return on equity of 10.9 percent on a capital structure that is 54 percent equity and 46 percent debt. A final Commission Order is pending.

David R. Emery, Chairman, President and CEO of Black Hills Corporation, said, "We are pleased to announce that Wygen II began providing power to our Cheyenne Light system last week, as planned. To the credit of our power generation team, we completed another successful construction project cost-effectively and in less than 30 months. This power plant, with its use of state-of-the-art emissions control technology, is among the cleanest in the United States. We believe it is among the first coal-fired plants in the United States to reduce mercury emissions. In addition to its low emissions profile, Wygen II is expected to contribute to electric cost stability for our customers throughout its useful life."

MDU Resources Announces Agreement to Purchase East Texas Natural Gas Production Assets(01/08/2008)  Back to Table of Contents

BISMARCK, N.D. - Jan. 8, 2008 - MDU Resources Group, Inc. (NYSE:MDU) announced that its indirect wholly owned subsidiary, Fidelity Exploration & Production Company (Fidelity), signed a purchase and sale agreement on Jan. 4, 2008, to acquire natural gas properties located in Rusk County, Texas. The agreement includes the purchase of 97 billion cubic feet equivalent (Bcfe) of proven reserves and 36 Bcfe of estimated probable reserves. Current net production from these assets is approximately 17.5 million cubic feet equivalent per day. The purchase price for these properties is $235 million, or $2.42 per thousand cubic feet equivalent of proven reserves, subject to accounting and purchase price adjustments customary with acquisitions of this type. The effective date of the acquisition is January 1, 2008, with the expected closing date to occur on or before January 31, 2008.

These assets are being purchased from EnerVest, Ltd. and certain of its affiliated parties and co-venturers. Fidelity will be the operator of the newly acquired assets and expects to drill approximately 25 wells in 2008 to further develop the properties. The acquisition is expected to be accretive to 2008 earnings per share and financed through a combination of internal funds and other borrowings.

Fidelity's projected growth for natural gas and oil production in 2008 was previously forecasted to be in the range of 5 percent to 8 percent. Pending the successful close of this transaction, 2008 production is expected to increase in the range of 12 percent to 16 percent over 2007 production levels. Meeting these targets will depend on the timely receipt of regulatory approvals and the success of exploration activities.

"This acquisition is in an area where we have experience and fits well with our existing operations. These lower risk development properties strengthen our strategy of having a balanced portfolio of assets and add production in an actively developing area," said Terry D. Hildestad, president and chief executive officer of MDU Resources. "There is long-term development potential within these high-quality proven reserves and upside potential from the unproven reserves. Combined with our active exploratory programs in the Bakken Play in North Dakota and the Paradox Basin in Utah, we expect to be well-positioned for the future."

The information in this release includes certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements contained in this release, including statements by the president and chief executive officer of MDU Resources and those with respect to the anticipated effect of the transaction upon earnings per share, are expressed in good faith and are believed by the company to have a reasonable basis. Nonetheless, actual results may differ materially from the projected results expressed in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the ability to effectively integrate the acquired properties; the satisfaction of closing conditions; fluctuations in natural gas and crude oil prices; fluctuations in commodity price basis differentials; drilling successes in natural gas and oil operations; the timely receipt of necessary permits and approvals; the ability to contract for or to secure necessary drilling rig contracts and to retain employees to drill for and develop reserves; other risks incidental to the operation of natural gas and oil wells; and the effects on operations of extensive environmental laws and regulations. For a discussion of other important factors that could cause actual results to differ materially from those expressed in the forward-looking statements, refer to Item 1A - Risk Factors in MDU Resources' most recent Form 10-K, Form 10-Q and the company's December 4, 2007, Form 8-K.

MDU Resources Group, Inc., a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, operating in three core lines of business: energy, construction materials and utility resources. MDU Resources includes natural gas and oil production, natural gas pipelines and energy services, construction materials and mining, construction services, and electric and natural gas utilities. For more information about MDU Resources, see the company's Web site at www.mdu.com or contact the Investor Relations Department at investor@mduresources.com.

MDU Resources Announces Webcast of Year-End 2007 Earnings Conference Call(01/07/2008)  Back to Table of Contents

BISMARCK, N.D. - Jan. 7, 2008 - MDU Resources Group, Inc. (NYSE:MDU) will webcast its year-end 2007 earnings release conference call Jan. 25 following the release of its results. Presenting the earnings results and guidance will be MDU Resources President and Chief Executive Officer Terry D. Hildestad and Executive Vice President, Treasurer and Chief Financial Officer Vernon A. Raile.

The webcast will begin at 1 p.m. EST and can be accessed at www.mdu.com. A webcast replay and audio replay will be available. The dial-in number for audio replay is (800) 642-1687 or for international callers, (706) 645-9291, conference ID 30212387.

MDU Resources Group, Inc., a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, operating in three core lines of business; energy, construction materials and utility resources. MDU Resources includes natural gas and oil production, natural gas pipelines and energy services, construction materials and mining, construction services, and electric and natural gas utilities. For more information about MDU Resources, see the company's Web site at www.mdu.com or contact the Investor Relations Department at investor@mduresources.com.

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