Dover, Delaware — Michael P. McMasters, President and Chief Executive Officer of Chesapeake Utilities Corporation (NYSE: CPK), announced that the Board of Directors appointed Matthew M. Kim to Vice President of the Company at their meeting Wednesday. In addition, Thomas E. Mahn has been appointed Treasurer of the Company; and William D. Hancock has been appointed as Assistant Vice President of Peninsula Energy Services Company, Inc. These appointments are effective immediately.

“The appointments of these individuals reflect the Board and senior management’s commitment to sustain a strong and dynamic management team,” said Mr. McMasters. “Today’s promotions are the result of our appreciation for the contributions these individuals have made to our Company, the success they have achieved, the respect they’ve earned from peers and customers, and our confidence in their continued success and future contributions.”

Mr. Kim’s appointment to Vice President of the Company reflects the expertise and contributions that he has made since joining Chesapeake in 2009. “Beginning with the merger with Florida Public Utilities Company (FPU), Matt has successfully led the Company through several different accounting integrations and was instrumental in working with our Florida team in securing approval of the recovery of the FPU acquisition adjustment and merger-related costs,” noted Beth W. Cooper, Senior Vice President and Chief Financial Officer. “Matt’s technical expertise and natural leadership abilities complement his enthusiasm for the Company and provide the foundation for his continued success,” Ms. Cooper added.

Mr. Kim joined Chesapeake in March 2009 as Controller overseeing all business unit accounting and financial reporting processes within the Company. He was appointed to Assistant Vice President in June 2010. He has responsibility for the development, communication and implementation of accounting and tax policies, practices and procedures within the Company. Prior to joining the Company, Mr. Kim was a Vice President and Assistant Controller for The Carlyle Group, a global private equity firm based in Washington, D.C., where he managed the U.S. corporate accounting team responsible for maintaining approximately 50 ledgers. Prior to joining The Carlyle Group, Mr. Kim was employed by PricewaterhouseCoopers, LLP, where he held the position of Senior Manager.

Mr. Mahn, who recently joined the Company as Director of Finance, will assume the responsibilities of Treasurer. “Tom’s long history with Perdue Incorporated has given him the experience and expertise needed to oversee the treasury functions of the Company,” said Mr. McMasters. “Tom’s a natural fit for the organization and we’re delighted to have him on board as a key member of the finance organization,” added Ms. Cooper.

Prior to joining the Company, Mr. Mahn was Vice President and Treasurer for Perdue Incorporated, a privately held food and agribusiness company with $5.0 billion in annual domestic and international sales. At Perdue, he provided leadership in corporate finance, cash management, risk management and counter party and customer financial relations. In addition, he developed and administered corporate policies for risk management, commodity positions, strategic initiatives and employee benefit plans. Mr. Mahn held several positions in Finance during his 35 year career with Perdue including Treasurer, Manager of Banking and Finance, Corporate Credit Manager and Property Accounting Manager.

Mr. Hancock’s promotion to Assistant Vice President of Peninsula Energy Services Company, Inc. is the result of his success in growing the subsidiary throughout Florida, on the Delmarva Peninsula and into Pennsylvania. “Bill has a great sense of how to position the Company to take advantage of market opportunities in the natural gas industry,” said Mr. McMasters. “His recent success with the Miami-Dade Water and Sewer Department natural gas supply agreement and his strategic foresight in identifying and pursuing new business opportunities are just two recent examples of why Bill earned the appointment to Assistant Vice President,” added Stephen C. Thompson, Senior Vice President.

Mr. Hancock has been actively involved in commodity markets for 16 years, and has been involved in energy marketing and energy risk management for over a decade. Prior to his position with Peninsula Energy Services Company, Inc., Hancock was Director of Supply and Risk Marketing, East for Inergy LP, a diversified energy Master Limited Partnership located in Kansas City, Missouri.

Chesapeake Utilities Corporation is a diversified utility company engaged in natural gas distribution, transmission and marketing; electric distribution; propane gas distribution and wholesale marketing; advanced information services and other related services. Information about Chesapeake Utilities Corporation and the Chesapeake family of businesses is available at

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For more information, contact:

Beth W. Cooper
Senior Vice President & Chief Financial Officer
[email protected]

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