National Fuel Declares Quarterly Dividend and Authorizes Additional Repurchases of Common Shares

National Fuel Gas Company’s (NYSE:NFG) Board of Directors today approved payment of a regular quarterly dividend of 32.5 cents per share on the Company’s common stock. The dividend is payable October 15, 2008, to shareholders of record on September 30, 2008.

National Fuel has paid dividends for 106 consecutive years and has increased its annual dividend for 38 straight years. In June 2008, the dividend was increased 4.8 percent.

The Board also today ratified the action of the Board’s Executive Committee on September 9, 2008, which authorized the repurchase, or buy-back, of two million shares of common stock. In addition, the Board authorized the repurchase of an additional six million shares of the Company’s common stock. As previously announced, the Company has completed the buy-back of eight million shares of its common stock as authorized in December 2005. The buy-back is intended to be implemented from time to time in the open market or through private transactions.

National Fuel is an integrated energy company with $4.3 billion in assets comprising five principal operating segments: Utility, Pipeline and Storage, Exploration and Production, Energy Marketing, and Timber. Additional information about the company is available at http://www.nationalfuelgas.com or through its investor information service at 1 (800) 334-2188.