FOR IMMEDIATE RELEASE CONTACT: ALBERT V. RUGGIERO OR GEORGE L. BAULIG PHONE: (609) 561-9000 SEPTEMBER 20, 1996 FOLSOM, N.J. -- Today, South Jersey Industries, Inc. (NYSE:SJI) announced that its board of directors adopted a shareholder rights plan. The board declared a dividend distribution of one right on each outstanding share of common stock, payable October 11, 1996 to common stock shareholders of record on that date. A summary of the Rights Plan will be sent to all shareholders of record on that date. Initially, the rights will be represented by common stock certificates and will trade with the common stock. The rights will not be exercisable unless certain future events occur. The rights will expire September 20, 2006, unless SJI redeems them earlier. Each right will entitle shareholders to buy one one- thousandth of a share of the company's newly created series of preference stock at an exercise price of $90.00. The rights will be exercisable if a person or group acquires 10 percent or more of SJI, or announces a tender offer, which would result in ownership of a 10 percent or more stake. If SJI is acquired, or a person or group acquires 10 percent or more of its common stock, each right will entitle its holder to purchase a number of the acquiring company's common shares or of SJI's common stock, at the then-current exercise price. This would have a market value of twice the exercise price. "The rights are not being distributed in response to any specific effort to acquire control of the company and the board is not aware of any such effort," said William F. Ryan, chairman, president and CEO of South Jersey Industries, Inc. "The purpose of the plan is to give the board of directors sufficient time to consider any offer and explore alternatives so that the best interests of the company and its shareholders will be served."