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Selected Financial Highlights Q297
June 30, 1997 1996

(In Thousands)

Consolidated
Cash and short-term investments $170,087 $191,136
Long-term debt 345,084 351,356
Shareholders' equity 450,498 426,624
Total assets $1,317,403 $1,313,522
Common shares outstanding 20,355 20,281
Return on average equity(1) 12.6% 16.1%


Three months ended
June 30,
Six months ended
June 30,
1997 1996 1997 1996

Boston Gas:
Billing degree days 1,274 1,153 4,111 4,255
% colder (warmer) than normal 24.1% 11.3% 0.2% 3.3%
Firm sales (MMcf) 16,834 16,357 48,542 51,667
Firm transportation (MMcf) 12,465 8,604 22,845 14,053
Total throughput (MMcf) 37,095 28,809 91,204 75,227
Return on average equity (1) 13.7% 11.3%


Midland:
Number of barges (as of June 30) 2,331 2,429
Tonnage (in thousands) 14,131 16,761 27,392 32,956
Ton miles (in millions) 8,457 9,451 16,231 18,468
Ton miles per barge day 36,672 38,811 34,684 38,173
Return on average equity (1) 13.9% 20.5%
(1) For 12 months ended June 30 excluding net unrealized gains on securities and unfunded pension liabilities


Selected Financial Highlights Q197
March 31, 1997 1996

(In Thousands)

Consolidated
Cash and short-term investments $174,492 $201,696
Long-term debt 346,081 355,512
Shareholders' equity 449,504 422,545
Total assets $1,393,005 $1,346,561
Common shares outstanding 20,340 20,246
Return on average equity(1) 12.9% 13.9%

Three months ended March 31, 1997 1996

Boston Gas:
Billing degree days 2,838 3,102
% colder (warmer) than normal (7.7)% 0.7%
Firm sales (MMcf) 31,708 35,310
Firm transportation (MMcf) 10,380 5,449
Total throughput (MMcf) 54,109 46,418
Return on average equity (1) 13.0% 11.3%


Midland:
Number of barges (as of March 31) 2,390 2,382
Tonnage (in thousands) 13,261 16,195
Ton miles (in millions) 7,774 9,017
Ton miles per barge day 32,740 37,528
Return on average equity (1) 16.5% 17.8%
(1) For 12 months ended March 31 excluding net unrealized gains on securities and unfunded pension liabilities


Selected Financial Highlights Q496
December 31, 1996 1995

(In Thousands)

Consolidated
Cash and short-term investments $159,804 $191,211
Long-term debt 347,313 357,675
Shareholders' equity 427,990 395,764
Total assets $1,421,615 $1,377,342
Common shares outstanding 20,304 20,194
Return on average equity 14.8% 15.7%


Year ended
December 31,
Three months ended
December 31,
1996 1995 1996 1995

Boston Gas:
Billing degree days 5,799 5,526 1,511 1,469
% colder (warmer than normal) 4.1% 0.0% 7.2% 3.2%
Firm sales (MMcf) 76,575 77,947 18,208 19,321
Firm transportation (MMcf) 42,118 16,395 12,553 5,661
Total throughput (MMcf) 143,814 135,349 40,559 37,816
Return on average equity (1) 13.2% 11.2%


Midland:
Tonnage (in thousands) 65,473 66,203 15,873 16,281
Ton miles (in millions) 36,115 36,836 8,997 9,341
Ton miles per barge day 36,932 37,941 35,572 38,303
Number of barges (as of December 31) 2,430 2,354 2,430 2,354
Return on average equity (1) 20% 20.5%
(1) For 12 months ended December 31 excluding net unrealized gains on securities and extraordinary item.


Selected Financial Highlights Q396
September 30, 1996 1995

(In Thousands)

Consolidated
Working capital $176,662 $219,497
Long-term debt 350,118 358,874
Shareholders' equity 419,304 411,456
Total assets $1,338,816 $1,308,847
Common shares outstanding 20,304 20,174
Return on average equity 17.2% 12.2%


Three months ended
September 30,
Nine months ended
September 30,
1996 1995 1996 1995

Boston Gas:
Billing degree days nm nm 4,288 4,057
% colder (warmer than normal) nm nm 3.0% (1.1)%
Firm sales (MMcf) 6,696 8,486 58,363 58,626
Firm transportation (MMcf) 15,513 4,301 29,566 11,274
Total throughput (MMcf) 28,025 27,703 103,252 97,533
Return on average equity (1) 12.5% 10.2%


Midland:
Tonnage (in thousands) 16,644 16,464 49,601 49,919
Ton miles (in millions) 8,670 9,429 27,138 27,496
Ton miles per barge day 35,931 38,642 37,405 37,824
Number of barges (as of September 30) 2,449 2,345
Return on average equity (1) 19.6% 18.8%
(1) For 12 months ended September 30 excluding net unrealized gains on securities and extraordinary item.



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