Cascade Natural Gas Corporation CFO Wessling Announces Retirement Plan

    Business Editors

    SEATTLE--(BUSINESS WIRE)--Jan. 10, 2005--J.D. Wessling today announced plans to retire as Chief Financial Officer of Cascade Natural Gas Corporation (NYSE:CGC) by June 15, 2005. Wessling has served as Cascade's CFO since 1995. The Board of Directors is conducting a search for a new CFO, consistent with its long-term strategic succession plan.
    W. Brian Matsuyama, Vice Chairman, President and CEO said, "J.D. has been a major contributor to Cascade. Among his many accomplishments were significant improvements in our management reporting, planning and budgeting processes, and increased formalization of our risk management and internal control frameworks. Our Company and our industry will miss his active involvement."
    Wessling said, "The last eleven years have been a rewarding experience. My responsibilities at Cascade provided the opportunity to meet and make many wonderful friends within Cascade, the natural gas industry, the financial community, and many others. I'll miss the challenges and personal contacts very much."
    Cascade Natural Gas Corporation, a natural gas distribution company, serves approximately 220,000 residential, commercial, industrial and transportation customers in 93 communities in Washington and Oregon.
    Statements contained in this report that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual future results to differ materially. Such risks and uncertainties with respect to the Company include, among others, its ability to successfully implement internal performance goals, competition from alternative forms of energy, consolidation in the energy industry, natural gas prices, performance issues with key natural gas suppliers and upstream pipelines, the capital-intensive nature of the Company's business, regulatory issues, including the need for adequate and timely rate relief to recover capital and operating costs and to sustain dividend levels, the weather, increasing competition brought on by deregulation initiatives at the federal and state regulatory levels, the potential loss of large volume industrial customers due to "bypass" or the shift by such customers to special competitive contracts at lower per-unit margins, exposure to environmental cleanup requirements, and economic conditions, particularly in the Company's service area.

--30--APS/se*

CONTACT: Cascade Natural Gas Corporation Larry C. Rosok, 206/624-3900

KEYWORD: WASHINGTON INDUSTRY KEYWORD: OIL/GAS ENERGY MANAGEMENT CHANGES SOURCE: Cascade Natural Gas Corporation

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