MDU Resources Increases Earnings Guidance for 2005, Provides 2006 Earnings Guidance.

Publication: Business Wire

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COPYRIGHT 2005 Business Wire

BISMARCK, N.D. -- MDU Resources Group, Inc. (NYSE:MDU) announced that the company is increasing its 2005 earnings per share guidance. Projected earnings per common share, diluted, for 2005 are expected to be in the range of $2.20 to $2.35, an increase from previous guidance of $2.10 to $2.30. The company also announced projections on earnings per common share for 2006. Earnings per common share, diluted, for 2006 are expected to be in the range of $2.00 to $2.20.

"MDU Resources, through its solid reserve base of natural resources, income producing assets and employee expertise, will have another record year in 2005 and a solid year in 2006," said Chairman of the Board and Chief Executive Officer Martin A. White.

"In 2006, we anticipate earnings improvements at most of our businesses with the expectation of improved margins at both our construction materials and utility services segments. However, we expect earnings at our independent power production segment to be substantially lower due to the absence of earnings related to the sale of the Termoceara generating facility and higher interest expense resulting from construction of the Hardin, Mont., generating facility."

OUTLOOK

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 increases in revenues and 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 the company's targeted growth, revenue and earnings projections.

MDU Resources Group, Inc.

--Earnings per common share for 2005, diluted, are projected in the range of $2.20 to $2.35, an increase from prior guidance of $2.10 to $2.30.

--Earnings per common share for 2006, diluted, are projected in the...

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