EXHIBIT 99.1 WASHINGTON GAS LIGHT COMPANY AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Twelve Months Ended December 31, 1999 (Unaudited) (Dollars in Thousands) PRE-TAX PREFERRED STOCK DIVIDENDS Preferred Dividends $ 1,331 Effective Income Tax Rate 0.3764 Complement of Effective Income Tax Rate (1 - Tax Rate) 0.6236 Pre-Tax Preferred Dividends $ 2,134 ========== FIXED CHARGES Interest Expense $ 38,050 Amortization of Debt Premium, Discount and Expense 513 Interest Component of Rentals 12 ---------- Total Fixed Charges 38,575 Pre-tax Preferred Dividends 2,134 ---------- Total $ 40,709 ========== EARNINGS Net Income $ 83,632 Add: Income Taxes Applicable to Utility Operating Income 45,967 Income Taxes Applicable to Non-Utility Operating Income 4,927 Income Taxes Applicable to Other Income (Expenses)--Net (411) Total Fixed Charges 38,575 ---------- Total Earnings $ 172,690 ========== Ratio of Earnings to Fixed Charges and Preferred Stock Dividends 4.2 ========== -1-