


                                                  Exhibit 99


                                                  DIANE WUYCHECK
                                                  (412) 553-5911

                                                  JULY 31, 1997



                    ERI CHIEF FINANCIAL OFFICER ACCEPTS NEW POST

PITTSBURGH  -- A. Mark  Abramovic,  senior vice  president  and chief  financial
officer  (CFO) of  Equitable  Resources,  Inc.  (ERI),  has  accepted  a similar
position with NUI Corporation of New Jersey and will resign his current position
at ERI, effective August 29, 1997. Mr. Abramovic's decision to leave ERI follows
several months of  discussions  with NUI and is one he came to prior to the July
17  announcement  that the  Company's  chief  executive  officer  elected  early
retirement.

      The Board of  Directors'  search  committee is currently in the process of
selecting a new chief executive  officer for the company.  ERI's chief executive
officer for the interim  period is its former  Chairman and CEO Donald I. Moritz
who  stated,  "Mark  Abramovic  has  been  an  important  contributor  to  ERI's
successful entry into the non-regulated energy services business during the past
few  years.  In  addition,  he has  been  instrumental  in  strengthening  ERI's
financial  picture  during a time of  significant  changes  in our  company  and
throughout the industry," Moritz added.

      Abramovic,  48,  joined ERI in November 1993 as assistant to the president
and was elected chief financial officer in 1995. Abramovic said, "My decision to
leave ERI has been a difficult  one.  Preparing  a company  for the  deregulated
marketplace  has been a rewarding  experience and I feel confident that ERI will
succeed as it fully implements its growth strategy."

<PAGE>

      Equitable Resources is a fully-integrated energy exploration, distribution
and marketing  company.  It offers  customized  energy (natural gas, natural gas
liquids,  crude oil and electricity) solutions to wholesale and retail customers
with innovative  products and services from its primary business segments -- ERI
Supply & Logistics,  ERI  Utilities  and ERI Services.  ERI has  operations  and
customers throughout the United States.

      Equitable Resources, Inc. is traded under the ticker symbol,  "EQT."

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