EXHIBIT I
[Chesapeake  Utilities
Corporation  Logo]



FOR  IMMEDIATE  RELEASE
NOVEMBER  5,  2002
NYSE:  CPK

       CHESAPEAKE UTILITIES CORPORATION ANNOUNCES LONG-TERM DEBT PLACEMENT

DOVER,  Delaware  -  Chesapeake  Utilities  Corporation  announced today that on
October  31,  2002,  it  successfully  completed a $30 million long-term private
placement of 6.64 percent Senior Notes, maturing on October 31, 2017. The Senior
Notes  were placed with Massachusetts Mutual Life Insurance Company and American
United  Life Insurance Company. The proceeds received in the placement were used
to  pay  down the Company's short-term lines of credit. The terms and conditions
of this placement are similar to the terms and conditions of the Company's other
Senior  Notes.

Michael P. McMasters, Vice President, Treasurer and CFO, stated: "We are pleased
to  have  completed  this  placement  at  such  competitively priced terms. This
placement  represents  a  refinancing  of  the  short-term  debt  that we use to
temporarily  fund our capital expenditure program. The placement of debt at 6.64
percent  demonstrates our continued ability to raise capital at attractive rates
to  fund  our  growth.  We  have  experienced  significant growth in our utility
service  areas  and  this will allow us to continue to capitalize on this growth
through  these  various  financing  mechanisms."

Chesapeake  Utilities  Corporation  is  a diversified utility company engaged in
natural  gas  distribution  and  transmission,  propane  gas  distribution  and
wholesale  marketing  and  advanced  information  services.  Information  about
Chesapeake's  businesses  is  available  on  the World Wide Web at www.chpk.com.

Matters  discussed  in  this release may include forward-looking statements that
involve risks and uncertainties. Actual results may differ materially from those
in  the  forward-looking statements. Please refer to the Cautionary Statement in
the  Company's  report  on  Form  10-K  for the year ended December 31, 2001 for
further  information  on  the  risks  and uncertainties related to the Company's
forward-looking  statements.

FOR  ADDITIONAL  INFORMATION  CONTACT:
Michael  P.  McMasters,  Vice  President,  Treasurer and Chief Financial Officer
302.734.6799