Notes: May 22, 2014-- UIL Holdings Corporation announced today that its wholly-owned subsidiary, CTG Resources, Inc., has extended its cash tender offer for all of the issued and outstanding shares of the $3.125 Par Preferred Stock of its subsidiary, Connecticut Natural Gas Corporation (CNG), at a price of $10.25 per share and removed the condition that at least 66 2/3 of the outstanding shares be validly tendered in order to receive the $10.25 per share price. The tender offer, which had previously been extended and was scheduled to expire at 5:00 p.m., New York City time on May 21, 2014, has been extended and will now expire at 5:00 p.m., New York City time, on June 5, 2014, at which time withdrawal rights will expire. Tenders of the Preferred Stock must be made prior to the extended expiration of the tender offer and may be withdrawn at any time prior to that time. As of 5:00 p.m. on May 21, 2014, approximately 68,625 shares of the Preferred Stock, representing 63.13 percent of outstanding shares, had been validly tendered and not withdrawn. The offer to purchase is subject to revised terms set forth in an April 6, 2014 Supplemental Offer to Purchase, except that the $10.25 offer price is no longer subject to the condition that at least 66 2/3% of the preferred shares be tendered by the expiration date. CTG will pay the purchase price of $10.25 per preferred share validly tendered and not withdrawn, regardless of how many preferred shares are tendered, promptly following the expiration date.