Unitil Announces Closing of Public Offering of Common Stock

HAMPTON, N.H., May 27 /PRNewswire-FirstCall/ -- Unitil Corporation (NYSE: UTL)
(www.unitil.com) announced today that it has closed on the Company's public
offering of 2.4 million shares of common stock, which priced on May 20, 2009
at $20.00 per share. The net proceeds of approximately $45.5 million were
primarily used to repay the remaining portion outstanding under the bridge
credit facility (approximately $39.1 million) that Unitil used to finance the
acquisition of Northern Utilities, Inc. and Granite State Gas Transmission,
Inc., which closed December 1, 2008. The remainder of the net proceeds will
be used for other general corporate purposes. Unitil has also granted the
underwriters a 30-day option to purchase up to an additional 360,000 shares to
cover any over-allotments.

RBC Capital Markets Corporation acted as the sole bookrunner for the offering.
The co-managers for the offering were Janney Montgomery Scott LLC.,
Oppenheimer & Co. Inc., Brean Murray, Carret & Co., LLC., and Edward D. Jones
& Co., L.P.

A copy of the final prospectus supplement and the accompanying base prospectus
relating to this offering may be obtained from RBC Capital Markets
Corporation, 3 World Financial Center, 8th Floor, 200 Vesey Street, New York,
NY 10281, Attention: Equity Syndicate. Phone: 212-428-6670; or from any of the
other underwriters.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy shares of the common stock. The shares were offered and
sold pursuant to a prospectus supplement filed as part of a shelf registration
statement.

About Unitil:
Unitil is a public utility holding company with subsidiaries providing
electric and natural gas distribution service in New Hampshire and
Massachusetts, natural gas distribution service in Maine and energy services
throughout the northeast. Unitil serves approximately 170,000 utility
customers in three states. Its utility affiliates include Unitil Energy
Systems, Inc., Fitchburg Gas and Electric Light Company, Northern Utilities,
Inc. and Granite State Gas Transmission, Inc. Its other subsidiaries include
Unitil Service Corp. and its non-regulated business segment doing business as
Usource.

Forward Looking Statements:
This press release contains forward-looking statements, which are subject to
the inherent risks and uncertainties in predicting future results and
conditions. All statements, other than statements of historical fact, are
forward-looking statements. Certain factors that could cause the actual
results to differ materially from those projected in these forward-looking
statements include, but are not limited to the following: our ability to
integrate the business, operations, and personnel of Northern Utilities and
Granite State and to achieve the estimated potential synergy savings
attributable to our acquisition of those entities; our ability to retain
existing customers and gain new customers; variations in weather; major
storms; changes in the regulatory environment; interest rate fluctuation and
credit market concerns; customers' preferences on energy sources; general
economic conditions; increased competition; fluctuations in supply, demand,
transmission capacity and prices for energy commodities; and customers'
performance under multi-year energy brokering contracts, all of which are
difficult to predict, and many of which are beyond the control of Unitil
Corporation.

For more information, visit Unitil at www.unitil.com or call Mark Collin at
603-773-6612.

Corporate Office:
6 Liberty Lane West
Hampton, NH 03842-1720
800-999-6501

SOURCE Unitil Corporation

Mark H. Collin of Unitil Corporation, +1-603-773-6612, collin@unitil.com