EXHIBIT 99.1
                                                                    ------------

FOR IMMEDIATE RELEASE

BUSINESS EDITORS

COMPANY CONTACT:  JOHN S. TOMAC, PRESIDENT
PHONE (203) 735-1888

KEYWORD:  CONNECTICUT

INDUSTRY KEYWORD:  UTILITIES

BIW LIMITED ACQUIRES THE CONNECTICUT OPERATIONS OF THE FORMER AQUASOURCE

ANSONIA, CT, October 31, 2003 - BIW Limited (AMEX: BIW) announced today that its
wholly-owned subsidiaries, Birmingham Utilities, Inc. and Birmingham H2O
Services, Inc. have purchased the Connecticut regulated and unregulated
operations of AquaSource, Inc. from Philadelphia Suburban Corporation (PSC) for
approximately $4,000,000, subject to certain purchase price adjustments. PSC
purchased the regulated and unregulated Connecticut AquaSource operations on
July 31, 2003. Birmingham Utilities, Inc. and Birmingham H2O Services, Inc.
signed an agreement with Philadelphia Suburban Corporation on May 19, 2003 to
purchase these operations. PSC and Birmingham Utilities, Inc. received
regulatory approval from the Connecticut Department of Public Utility Control
for the purchase and sale of the Connecticut regulated operations on October 22,
2003.

John S. Tomac, President of Birmingham Utilities, said, "These operations
consist of 30 regulated water systems located in eastern Connecticut, as well as
a non-regulated contract operations business that monitors and services another
51 water systems also in eastern Connecticut." Also included in the purchase is
the Rhodes Pump Service business located in Guilford, Connecticut.

"We are very excited that these operations are becoming a part of BIW Limited.
We are increasing our regulated customer base as well as expanding on the
services that our non-regulated subsidiary, Birmingham H2O Services provides.
These operations fit perfectly with our strategy to expand in familiar
businesses in additional locations in Connecticut." Tomac also noted, "We look
forward to the growth opportunities that this acquisition will bring to our
Company."




BIW Limited is the parent company of Birmingham Utilities, Inc., a regulated
public water service company which collects and distributes water for domestic,
commercial and industrial uses and fire protection in Ansonia, Derby and in
small parts of the contiguous Town of Seymour, Connecticut and Birmingham H2O
Services, Inc., which provides water related services to other water utilities,
contractors and individuals throughout Connecticut.






This press release contains forward-looking statements. These forward-looking
statements are found in various places throughout this press release and
include, without limitation, statements regarding the expected timing and
benefits of the acquisition and sale. While these forward-looking statements
represent our judgments and future expectations concerning the development of
our business and the timing and benefits of the acquisition, a number of risks,
uncertainties, and other important factors could cause actual developments and
results to differ materially from our expectations. These factors include, but
are not limited to, regulatory approvals for the transaction; the costs related
to the transaction; the inability to obtain or meet conditions imposed for
governmental approvals for the transaction; the risk that anticipated benefits
will not be obtained or will not be obtained within the time anticipated; and
other key factors that could adversely affect our business and financial
performance contained in our past and future filings and reports, including
those filed with the Securities and Exchange Commission. BIW Limited is under no
obligation (and expressly disclaims any such obligation) to update or alter its
forward-looking statements whether as a result of new information, future
events, or otherwise.