signature=55b9682b77fc6476c62f1e5881e62f07,8-K

EXHIBIT 99.01

North Carolina Financial Community

November 9-10, 2005

Exhibit 99.01

Regarding Forward-Looking Statements

Certain statements contained in this presentation are forward-looking statements within the meaning of the Private Securities

Litigation Reform Act of 1995. Forward-looking statements can also be identified by the use of forward-looking terminology such

as "may," "intend," "expect," or "continue" or comparable terminology and are made based upon management's expectations and

beliefs concerning future developments and their potential effect upon New Jersey Resources (NJR or the Company). There can

be no assurance that future developments will be in accordance with management's expectations or that the effect of future

developments on the Company will be those anticipated by management.

The Company cautions persons reading or hearing this presentation that the assumptions that form the basis for forward-looking

statements regarding customer growth, financial results, capital requirements and other matters for fiscal 2005 and thereafter

include many factors that are beyond the Company's ability to control or estimate precisely, such as estimates of future market

conditions, the behavior of other market participants and changes in the debt and equity capital markets. Among the factors

that could cause actual results to differ materially from NJR's expectations include, but are not limited to, such things

as weather and economic conditions, demographic changes in the New Jersey Natural Gas (NJNG) service territory,

rate of NJNG customer growth, volatility of natural gas commodity prices, the impact of the Company's risk

management efforts, conversion activity and other marketing efforts, the actual energy usage patterns of NJNG's

customers, the pace of deregulation of retail gas markets, access to adequate supplies of natural gas, the regulatory

and pricing policies of federal and state regulatory agencies, changes due to legislation at the federal and state level,

the outcome of the Stagecoach and other litigation, the disallowance of recovery of environmental remediation

expenditures, other regulatory changes and changes in and levels of interest rates.

The Company does not, by including this statement, assume any obligation to review or revise any particular forward-looking

statement referenced herein in light of future events.

NJR at a Glance

Ticker Symbol (NYSE): NJR

Price Range (52 Weeks) $40.54 - $49.34

Common Shares Outstanding: 27.6 million

Market Capitalization: $1.3 billion

Annual Dividend Rate: $1.44

Dividend Yield: 3.4 percent

Total Assets: $2.2 billion

September 30, 2005

September 30, 2005

We know what we are ...

A regulated, natural gas distribution company

A provider of wholesale energy services

.... More importantly, we know what we're not

A telecom company, an electric company, an international

investor

Delivering consistent results is what we're all about

Our Business Philosophy

NJR has increased EPS for the last 14 years with a

CAGR of 7.7 percent over the past 10 years

Key NJNG Drivers

Safe and reliable service

Customer growth

Strong financial profile

Regulatory partnerships

Efficient operations

Our Service Area

Growing customer base

Primarily residential and

small commercial

Consistent growth forecast

NYC

Phila.

Atlantic

City

Excellent service area demographics

Total Customers

1999 397

2000 410

2001 423

2002 434

2003 444

2004 455

2005 462

Nearly 3 percent annual customer

growth over the past 10 years

New Conversions

6890 3545

Preliminary 30899

Final 19736

Conceptual 3724

Pending 479

Pending

Preliminary

Final

Conceptual

Non Heat 9751

On Main 39880

Off main 81334

New Customers = 54,838

Non-heat customers

Non-gas off main

Non-gas

on/near main

Conversions = 130,965

Future Market Potential

Sources: Local Planning Boards and NJNG Harte Hanks & A.D. Little Studies

Healthy "inventory" for continued

customer growth

Natural Gas Oil Propane Electric

East 1.28 1.99 2.44 2.97

October 2005 Fuel Price Comparison

Comparison based on October 2005 prices based on

100,000 comparable btu's

100,000 comparable btu's

100,000 comparable btu's

NJNG Capital Expenditures

Customer Growth 21.9

System Integrity 35.1

Technology & Other 3.6

Cost of Removal 5.6

MGP, net 16.7

New Customer 24.7

System Integrity 26.6

Technology & Other 2.3

Cost of Removal 6.7

MGP, net 7.8

2006 Plan:

$82.9 million

NJNG reinvests over half its earnings

back into the system annually

September 30, 2005 Actual:

$68.1 million

NJNG Capital Structure

LT Debt 292204

Total Equity 448286

ST Debt 3253

Credit ratings:

S&P: A+

Moody's: Aa3

Only natural gas utility

to be upgraded by

Moody's in 2003

One of only two utilities

upgraded by S&P in

2003

Strong financial profile

Regulatory Philosophy

Foster productive relationships with regulators

Benefit all stakeholders

Support the state's energy policies

Be proactively involved in current regulatory

initiatives

Use incentives to benefit both customers and

shareowners

Manage our business without relying on base

rate cases

Incentive Programs

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005

Customer Savings 0 4.4 12.6 15.9 18.3 22.3 21 22.3 22 25 24 19 28 31

Shareowner Margin 1.6 1.8 3.5 4 4.6 5.6 5.2 5 4.9 5 5 5 6 6

$2

$6

$16

$27

$23

$28

$26

$20

$27

$30

$29

$24

$34

Customer bills reduced by about $266 million or

4 percent annually since program inception

$37

Improved Productivity

New Customer Cost

O&M as a Percentage of Gross Margin

Improving productivity while maintaining high

customer satisfaction

ATG/NUI SJG FE CIV PEG NJR

4 1.89 1.82 1.55 1.31 0.8

BPU Inquiries per 1,000 Customers

NJNG achieved its 13th consecutive year of having the best

customer satisfaction rate of any major utility in New Jersey

Customer Satisfaction

September 30, 2005

Key Wholesale Energy Services Drivers

People working with physical assets

Customer relationships

Leveraging volatility

Access to capital

Managing risk

People and Physical Assets

We market physical assets

Financial tools enhance profitability

Our people have a proven track record

Direct management of storage contracts

Direct management of transportation contracts

Our assets are linked with our strategy

New assets bring synergies

NJRES Asset Base

NJRES Operating Statistics

2001 2002 2003 2004 2005

Gross Margin 8.8 17.1 26.1 32.2 39.3

Net Income 4.1 6.4 11.4 13.6 16.6

Wholesale energy services are expected to

contribute about 20 percent of total earnings

Access to Capital

Strong financial profile is required by

counterparties

Working capital needs of this business are

significant

Committed credit lines total $275 million

Working Capital Volatility

9/1/2000 12/1/2000 3/1/2001 6/1/2001 9/1/2001 12/1/2001 3/1/2002 6/1/2002 9/1/2002 12/1/2002 3/1/2003 6/1/2003 9/1/2003 12/1/2003 3/1/2004 6/1/2004 9/1/2004 12/1/2004 3/1/2005 6/1/2005 9/1/2005

-43.6 23 -99.1 -56.7 -20.5 17.8 55.3 75.2 48.5 67.8 -37.8 -25 -18.1 72.6 -34 18 123 110 65.8 127.7 174.1

B

O

R

R

O

W

E

D

I

N

V

E

S

T

E

D

Working capital volatility requires a

strong financial profile

Managing Risk

Strictly natural gas operation - no electric exposure

Not a speculative trader

Manage assets for primarily hedged positions

Disciplined risk management guidelines

Limited open positions = low VAR ($3.0 million)

Strict internal controls and credit procedures

Daily compliance monitoring by financial department

IT Systems in place to manage physical assets

Counterparty Credit Ratings

Publicly-Rated Investment Grade Internally-Rated Investment Grade Non-Investment Grade *

East 84 13 3

* Credit exposure to non-investment grade companies is

mitigated through the use of prepayments or Letters of Credit.

95 percent of net sales with investment grade

companies

September 30, 2005

NJR Home Services

Appliance service contracts, sales and installations

Profitable operations

Excellent customer satisfaction

Limited capital requirements

2003 2004 2005

East 135 139 146

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005

1.13 1.24 1.28 1.37 1.48 1.56 1.67 1.81 1.97 2.12 2.41 2.6 2.7

Earnings Per Basic Share

NJR estimates $2.75 to $2.85 per basic share in

fiscal 2006

* Net of certain items

*

1995 1996 1997 1998 1999 2000

East 1.52 1.56 1.6 1.64 1.68 1.72

2000 2001 2002 2003 2004 2005 2006

1.15 1.17 1.2 1.24 1.3 1.36 1.44

* Effective January 3, 2006

*

Dividends per Share

Payout Ratio

Dividend Rate and Payout Ratio

2000 2001 2002 2003 2004 2005

0.64 0.59 0.57 0.51 0.5 0.49

1-year dividend growth rate of 5.9 percent

Allowed ROE

of 11.5 percent

Incentive

programs provide

1 to 1.5 percent of

incremental return

Balance primarily

from unregulated

wholesale energy

services

1998 1999 2000 2001 2002 2003 2004 2005

0.142 0.145 0.148 0.153 0.153 0.159 0.156 0.153

Return on Equity

Growing natural gas

distribution business

Disciplined wholesale

energy services

strategy

Strong regulatory

relations

Excellent financial

profile

Consistent financial

performance

NJR Peer Group S&P 500

5 Years 0.14 0.102 -0.0017

NJR: Reliable Performance

September 30, 2005

Food for Thought

"Standard and Poor's screened the broad-market

S&P 1500 universe, looking for companies with

at least a 10-year history of long-term earnings

growth, continual dividend payments and low

volatility. Just one name popped up: New Jersey

Resources Corp., the parent of the utility New

Jersey Natural Gas, among other subsidiaries."

The Wall Street Journal

February 3, 2005

Appendix A: Gross Margin

Gross margin is a non-GAAP measure. NJNG's gross

margin is defined as gas revenues less gas purchases,

sales tax and a Transitional Energy Facilities Assessment

(TEFA), which is included in Energy and other taxes on

the Consolidated Statements of Income. Management

believes that gross margin provides a more meaningful

basis for evaluating utility operations than does revenues

since natural gas costs, sales tax and TEFA are passed

through to customers and, therefore, have no effect on

gross margin. NJRES' gross margin is defined as natural

gas revenues and management fees less natural gas

costs. For reconciliation to our revenue, see our periodic

SEC filings available on our Web site at njliving.com

Appendix B: Our Management Team

Laurence M. Downes

Chairman & Chief Executive Officer

New Jersey Resources

Mr. Downes is Chairman of the Board and Chief Executive Officer of New Jersey Resources (NJR) and its

principal subsidiary, New Jersey Natural Gas (NJNG). He joined NJR in March 1985 and was appointed Senior

Vice President and Chief Financial Officer in January 1990. In March 1995, Mr. Downes was elected President

and Chief Executive Officer of NJNG and a member of NJR's Board of Directors. In July 1995, he was named

President and CEO of NJR. In September 1996, he was elected Chairman of NJR's Board of Directors. He

serves as Director and 2005 Chairman of the American Gas Association, Chairman of Safe Child Consortium, a

private-public partnership for the prevention of child abuse and neglect in New Jersey, and as a Trustee of the

American Gas Foundation. He is also the 2005 Chairman of the Natural Gas Council. He is Chairman of the

Finance Council of the Diocese of Trenton and a member of the Board of Trustees of Iona College. Mr. Downes

received a bachelor's degree in business administration in June 1979 and a master's degree in business

administration in June 1981 from Iona College.

..

Appendix B: Our Management Team

Kathleen T. Ellis

Senior Vice President - Corporate Affairs

New Jersey Resources

Ms. Ellis is responsible for communications, government relations, regulatory and environmental affairs. Before

joining NJR in December 2004, Ms. Ellis was Director of Communications for Governor James E. McGreevey.

She also has served as Director of Communications for Newark, N.J.-based Public Service Electric and Gas, one

of the largest combined electric and gas companies in the United States. Ms. Ellis received a bachelor's degree in

economics from the State University of New York at Binghamton. She serves as a member of the New Jersey

State Board of Social Work Examiners and is on the Board of Directors for Friends of the Belmar Harbor. She is a

past member of the Board of Directors for the Women's Crisis Services of Hunterdon County and the Community

Health Law Project.

Oleta J. Harden

Senior Vice President, General Counsel and Secretary

New Jersey Resources

Serving as General Counsel, Mrs. Harden handles all legal matters for New Jersey Resources (NJR). She joined

NJR in 1984. In addition to her legal duties, she is responsible for insurance, rights of way and claims. Mrs.

Harden also serves as Corporate Secretary for NJR's Board of Directors. She is a graduate of the UCLA School of

Law and earned both her bachelor's and master's degrees from the University of Alabama in Birmingham. She is

a member of the American Bar Association, the New Jersey Bar Association, the American Society of Corporate

Secretaries, the Board of Trustees for Monmouth University and the Board of New Jersey Manufacturers

Insurance Company.

Appendix B: Our Management Team

Glenn C. Lockwood

Senior Vice President & Chief Financial Officer

New Jersey Resources

President

NJR Home Services

Mr. Lockwood joined New Jersey Resources (NJR) in 1988 and is responsible for NJR's overall financial

management. Areas that report to him include: financial, tax, treasury, corporate development, investor

relations, shareholder services and technology. He also serves as Chief Financial Officer of NJR Capital, the

subsidiary responsible for real estate holdings and energy-related investments. Before being promoted to

CFO, he held the positions of Vice President, Controller and Chief Accounting Officer at NJR. Mr. Lockwood

worked for Deloitte & Touche, LLP, before joining NJR. He received his bachelor's degree in accounting from

St. Peters College in 1983. He is a Certified Public Accountant and is a member of both the New Jersey

Society of Certified Public Accountants and the American Institute of Certified Public Accountants.

Thomas J. Massaro

Vice President - Corporate Strategy

NJR Service

Mr. Massaro joined New Jersey Natural Gas (NJNG) in 1989 as a Management Engineer and has held

several positions in marketing, operations and customer service. Prior to assuming his current position in

2004, he had been Director of Operations at NJRHS, since it was transferred from NJNG in 2000. A member

of Quality New Jersey, Mr. Massaro attended Drexel University, receiving a bachelor's degree in mechanical

engineering in June 1989.

Appendix B: Our Management Team

George C. Smith Jr.

Vice President - Internal Audit

NJR Service

Mr. Smith joined New Jersey Resources in 1984 as an Associate Auditor, and in his most recent role as

Director - Internal Audit, has systematically redefined the internal audit function at NJR. He is certified as an

internal auditor and fraud examiner. Mr. Smith has a bachelor's degree in accounting from Monmouth

University, and is a member of the Association of Certified Fraud Examiners and the Institute of Internal

Auditors.

Timothy C. Hearne Jr.

Senior Vice President and Treasurer

NJR Service

Mr. Hearne joined New Jersey Natural Gas in 1985 and heads the financial services business unit of NJR

Service. His areas of responsibility include: finance, accounting, supply chain management and the

companywide quality management initiative. He holds a bachelor's degree from The College of New Jersey and

a master's degree from Rutgers Graduate School of Management. Mr. Hearne is a Certified Public Accountant,

a member of the American Institute of Certified Public Accountants, the New Jersey Society of Certified Public

Accountants and the Financial Executive Institute. He currently serves on the boards of the New Jersey Utility

Association and Brookdale Community College Foundation.

Appendix B: Our Management Team

Kathleen F. Kerr

Vice President - Marketing and Customer Services

New Jersey Natural Gas

Mrs. Kerr is responsible for marketing and customer services at New Jersey Natural Gas (NJNG). Prior to

joining NJNG in 2005, Mrs. Kerr was Director - Customer Services for Newark, N.J.-based Public Service

Electric and Gas (PSE&G), one of the largest combined electric and gas companies in the United States.

During her 19 years at PSE&G, she held various positions in customer services and other areas of the

utility. Mrs. Kerr attended the Harvard Business School Program for Management Development and holds a

bachelor's degree in business administration from Villanova University.

Mark R. Sperduto

Vice President - Regulatory Affairs

New Jersey Natural Gas

Mr. Sperduto joined New Jersey Natural Gas (NJNG) in March 2005 and is responsible for regulatory affairs

and supports initiatives on key issues such as price stability, customer choice and improved service. Prior to

joining NJNG, Mr. Sperduto was Director - Corporate Issues for Newark, N.J.-based Public Service Electric

and Gas, one of the largest combined electric and gas companies in the United States.

He holds a bachelor's degree in business administration from Seton Hall University and an MBA from

Rutgers University.

Appendix B: Our Management Team

Joseph P. Shields

Senior Vice President - Energy Services

New Jersey Natural Gas

NJR Energy Services

As head of the energy services business unit, Mr. Shields is responsible for natural gas supply

acquisitions, negotiating transportation agreements and monitoring natural gas control activities as well

as regulated wholesale marketing activity for New Jersey Natural Gas (NJNG). Mr. Shields holds a

bachelor's degree in business administration from Stockton State College. Before joining NJNG in 1983,

he worked at the New Jersey Board of Public Utilities as a rate analyst.

Stephen D. Westhoven

Vice President

NJR Energy Services

Mr. Westhoven joined New Jersey Natural Gas in 1990, working in the engineering and gas supply

departments, before his promotion to Director - Energy Trading of NJR Energy Services (NJRES). He is

currently responsible for the procurement and maximization of NJRES' capacity and gas sales. His

contributions have played a key role in the growth of NJRES. Mr. Westhoven earned a bachelor's degree

in mechanical engineering from Catholic University.

Appendix B: Our Management Team

Deborah G. Zilai

Vice President - Corporate Services

NJR Service

After a 20-year career with IBM, Mrs. Zilai joined New Jersey Resources (NJR) in 1996. Her current

responsibilities include implementation of NJR's Commitment to Stakeholders and the management of all

business-related technology. Her education and training include earning a bachelor's degree in

mathematics from Cedar Crest College and completing over 2,000 hours of business and technical

training from IBM. She serves on the Technology Advisory Council and the Leadership Council for the

American Gas Association, and is on the Computer Science Advisory Board at Brookdale Community

College. Mrs. Zilai is also on the Board of Directors of Family & Children Services, serving on the Policy

and Program Committee.