Aqua America (WTR) - Dividend Reinvestment and Direct Stock Purchase Plan

To join plan: Minimum $500 or have five shares of stock.

Optional cash investments: Min $50, normally invested weekly.

Discount: 5% Discount on reinvested dividends.

Fees: ($=Low)

• Sales fee: $15 plus commissions and taxes.

Information:

EquiServe Trust Co., N.A.
Attn: Aqua America, Inc. Dividend Reinvestment and Direct Stock Purchase Plan
P.O. Box 43010
Providence, RI 02940-3010

Equiserve (800) 205-8314 or (781) 575-3100

from prospectus dated March 2, 2005 and additional info.

NOTE: Aqua America was formerly Philadelphia Suburban