1 EXHIBIT 99.1 WASHINGTON GAS LIGHT COMPANY AND SUBSIDIARIES Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends Twelve Months Ended June 30, 1996 (Unaudited) (Dollars in Thousands) FIXED CHARGES AND PRE-TAX PREFERRED STOCK DIVIDENDS: Interest Expense. . . . . . . . . . . . . . . . . . . . . . . . $ 29,771 Amortization of Debt Premium, Discount and Expense. . . . . . . 241 Interest Component of Rentals . . . . . . . . . . . . . . . . . 64 ----------- Total Fixed Charges. . . . . . . . . . . . . . . . . . . . 30,076 Pre-tax Preferred Dividends . . . . . . . . . . . . . . . . . . 2,130 ----------- Total. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 32,206 =========== Preferred Dividends . . . . . . . . . . . . . . . . . . . . . . $ 1,333 Effective Income Tax Rate . . . . . . . . . . . . . . . . . . . .3742 Complement of Effective Income Tax Rate (1 - Tax Rate). . . . . .6258 Pre-Tax Preferred Dividends . . . . . . . . . . . . . . . . . . $ 2,130 =========== EARNINGS: Net Income. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 87,015 Add: Income Taxes Applicable to Operating Income. . . . . . . . 53,025 Income Taxes Applicable to Other Income (Loss) - Net . . . (1,004) Total Fixed Charges. . . . . . . . . . . . . . . . . . . . 30,076 ----------- Total Earnings. . . . . . . . . . . . . . . . . . . . . . . . . $ 169,112 =========== Ratio of Earnings to Fixed Charges and Preferred Stock Dividends. . . . . . . . . . . . . . . . . 5.3 =========== 17