Industry & Services >> Analyst Interviews >> June 7, 2004

WATER UTILITIES: TIMOTHY WINTER – A.G. EDWARDS & SONS

Timothy M. Winter, Vice President, joined A.G. Edwards in 1991. Mr. Winter holds a Master's degree from the University of Notre Dame. A Chartered Financial Analyst, Mr. Winter has been a Wall Street Journal All Star Analyst (for both stock picking and earnings estimate accuracy), recognized in the annual Reuters Survey as a top analyst in the electric and water utility industries and is a member of the St. Louis Society of Financial Analysts. He follows electric and water utility stocks. Profile
TWST: As we look at the water group today, what do you see going on

that's of particular interest?

Mr. Winter: We're seeing continued consolidation by some companies, Aqua

America (WTR) being