Equitable Resources Named to S&P 500

Natural Gas Production Company Hits Growth Milestone

Thursday, December 18, 2008 8:08 am EST

Dateline:

PITTSBURGH
"This is indeed a significant milestone for our company, and I am excited and encouraged about our potential moving forward"

Equitable Resources, Inc., today announced that Standard & Poors has added the Equitable name to its prestigious S&P 500 index. The S&P 500 is widely considered the best single gauge of the U.S. equities market and is comprised of 500 leading publicly held companies in the most important industries in the U.S. economy.

Equitable Resources, which operates in Virginia, Kentucky, West Virginia and Pennsylvania, is the largest natural gas production company in the gas-rich Appalachian Basin, and the 14th largest in the U.S., ranked by total gas reserves. With this announcement, Equitable Resources joins a short, exclusive list of Pittsburgh-based S&P 500 companies.

"This is indeed a significant milestone for our company, and I am excited and encouraged about our potential moving forward," said Murry Gerber, Equitable Resources' Chairman, and CEO.

Equitable Resources is an integrated energy company with emphasis on Appalachian area natural gas production, gathering, processing, transmission and distribution. Additional information about the company can be obtained through the company's web site, http://www.eqt.com/; Investor information is available on that site at http://ir.eqt.com/. Equitable Resources uses its web site as a channel of distribution of important information about the company, and routinely posts financial and other important information regarding the company and its financial condition and operations on the Investors web pages. Web Site: http://www.eqt.com/

Contact:

Wayne Desbrow of Equitable Resources, +1-412-553-5738
wdesbrow@eqt.com

Media Relations

(For credentialed news media)

Linda Robertson
Manager,
Media Relations
lrobertson@eqt.com
Tel. 412.553.7827

Investor Relations

Blake McLean
Senior Vice President, Investor Relations and Strategy
bmclean@eqt.com
Tel. 412.395.3561