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Prepared and filed by St Ives Burrups
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<body bgcolor="#FFFFFF">  <p align="center"><font size="2" face="serif">As filed with the Securities and Exchange Commission on June 23, 2004</font></p>
<p align="right"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registration No. 333-</font></p>
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<p align="center"><font size="2" face="serif"><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br>
Washington, D.C. 20549</font></p>
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<p align="center"><font size="2" face="serif"><strong><font size="3">FORM S-8<br>
  REGISTRATION STATEMENT</font><br>
  UNDER<br>
THE SECURITIES ACT OF 1933</strong></font></p>
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<p align="center"><font size="2" face="serif"><strong><font size="3">AQUA AMERICA, INC.</font></strong><br>
    <font size="1">(Exact name of registrant as specified in its charter)</font></font></p>
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<td align="left" width="33%"><div align="center"><font size="2" face="serif"><strong>Pennsylvania</strong></font><br>
      <font size="1" face="serif">(State or other jurisdiction</font><font size="1"><br>
    <font face="serif">of incorporation or organization)</font></font></div></td>
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<td align="left"><div align="center"><font size="2" face="serif"><strong>23-1702594</strong></font><br>
      <font size="1" face="serif">(IRS Employer Identification No.)</font></div></td>
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<p align="center"><font size="2" face="serif"><b>762 W. Lancaster Avenue<br>Bryn Mawr, PA 19010-3489<br></b><font size="1">(Address of principal executive offices) (Zip Code)</font></font></p>
<p align="center"><font size="2" face="serif"><strong>AQUA AMERICA, INC. 2004 EQUITY COMPENSATION PLAN</strong><br>
    <font size="1">(Full title of the Plan(s))</font></font></p>
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<p align="center"><font size="2" face="serif"><strong>Roy H. Stahl<br>
  Executive Vice President and General Counsel<br>
  Aqua America, Inc.<br>
  762 W. Lancaster Avenue<br>
  Bryn Mawr, PA 19010-3489</strong><br>
  <font size="1">(Name and address of agent for service)</font></font></p>
<p align="center"><font size="2" face="serif"><b>(610) 527-8000<br></b><font size="1">(Telephone number, including area code, of agent for service)</font></font></p>
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<p align="center"><font size="2" face="serif"><strong>CALCULATION OF REGISTRATION FEE</strong></font></p>
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<td align="left" valign="bottom"><div align="center"><font size="1" face="serif">Title of Securities to be Registered</font></div></td>
<td align="left" width="2%"><font size="1">&nbsp;</font></td>
<td width="1%" align="right"><font size="1">&nbsp;</font></td>
<td width="13%" align="center"><font size="1" face="serif">Amount to be <br>Registered(1)</font></td>
<td width="2%" align="left"><font size="1">&nbsp;</font></td>
<td width="1%" align="right"><font size="1">&nbsp;</font></td>
<td width="17%" align="center"><font size="1" face="serif">Proposed Maximum <br>Offering Price per Share(2)</font></td>
<td width="2%" align="left"><font size="1">&nbsp;</font></td>
<td width="1%" align="right"><font size="1">&nbsp;</font></td>
<td width="18%" align="center"><font size="1" face="serif">Proposed Maximum <br>Aggregate Offering Price(2)</font></td>
<td width="2%" align="left"><font size="1">&nbsp;</font></td>
<td width="1%" align="right"><font size="1">&nbsp;</font></td>
<td width="12%" align="center"><font size="1" face="serif">Amount of <br>Registration Fee</font></td>
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<td align="left"><font size="2" face="serif">Common Stock, $0.50 par value</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">3,675,000 shares</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
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<td align="center"><font size="2" face="serif">$19.97</font></td>
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<td align="center"><font size="2" face="serif">$73,389,750</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
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<td align="center"><font size="2" face="serif">$9,299</font></td>
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<td width="3%"><font size="2" face="serif">(1)</font></td>
<td><font size="2" face="serif">Pursuant to Rule 416 under the Securities Act of 1933, as amended, this Registration Statement shall also cover any additional shares of Common Stock which become issuable under the Aqua America, Inc. 2004 Equity Compensation Plan by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant&#8217;s receipt of consideration which results in an increase in the number of the outstanding shares of Registrant&#8217;s Common Stock.  This includes rights to purchase shares of our Series A Junior Participating Preferred Stock pursuant to the Rights Agreement dated March 1, 1998.  No separate consideration is paid for these rights and, as a result, no registration fee for these rights is included in the
fee for the common stock.</font>
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<td width="3%"><font size="2" face="serif">(2)</font></td>
<td><font size="2" face="serif">Calculated solely for purposes of this offering under Rule 457(h) of the Securities Act of 1933, as amended.  The price per share and aggregate offering price are calculated on the basis of the average of the high and low selling price per share of the Registrant&#8217;s Common Stock on June 21, 2004, as reported by the New York Stock Exchange, for the 3,675,000 shares issuable under the 2004 Equity Compensation Plan that are not subject to outstanding options.</font>
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<p align="center"><font face="serif" size="2"><b>PART II</b></font></p>
<p align="center"><font face="serif" size="2"><b>Information Required in the Registration Statement</b></font></p>
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<p><font face="serif" size="2">Item 3.&nbsp;&nbsp;&nbsp;<u>Incorporation of Documents by Reference</u></font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aqua America, Inc. (the &#8220;Registrant&#8221;) hereby incorporates by reference into this Registration Statement the following documents previously filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;):</font></p>
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<td width="3%" valign="bottom"><font size="2" face="serif">(a)</font></td>
<td valign="bottom"><font size="2" face="serif">The Registrant&#8217;s Annual Report on Form 10-K, filed with the Commission on March 15, 2004 for the fiscal year ended December 31, 2003;</font>
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<td width="3%" valign="bottom"><font size="2" face="serif">(b)</font></td>
<td valign="bottom"><font size="2" face="serif">The Registrant&#8217;s Quarterly Report on Form 10-Q, filed with the Commission on May 5, 2004; and</font>
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<td width="3%" valign="bottom"><font size="2" face="serif">(c)</font></td>
<td valign="bottom"><font size="2" face="serif">The Current Reports on Form 8-K, filed with the Commission on January 16, 2004, February 25, 2004 and May 12, 2004 and on Form 8-K/A filed June 9, 2004.</font>
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<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All reports and definitive proxy or information statements filed pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which de-registers all securities then remaining unsold shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing of such documents.  Unless expressly incorporated into this Registration Statement, a report furnished on Form 8-K under the Exchange Act shall not be incorporated by reference into this Registration Statement.  Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement.  Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</font></p>
<p><font face="serif" size="2">Item 4.&nbsp;&nbsp;&nbsp;<u>Description of Securities</u></font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</font></p>
<p><font face="serif" size="2">Item 5.&nbsp;&nbsp;&nbsp;<u>Interests of Named Experts and Counsel</u></font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</font></p>
<p><font face="serif" size="2">Item 6.&nbsp;&nbsp;&nbsp;<u>Indemnification of Directors and Officers</u></font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sections 1741 and 1742 of the Pennsylvania Business Corporation Law of 1988, as amended (the &#147;PBCL&#148;), provide that, unless otherwise restricted in its bylaws, a business corporation may indemnify directors and officers against liabilities they may incur as such provided that the particular person acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the best interests of the corporation, and, with respect to any criminal proceeding, had no reasonable cause to believe his or her conduct was unlawful. In general, the power to indemnify under these sections does not exist in the case of actions against a director or officer by or in the right of the corporation if the person
otherwise entitled to indemnification shall have been adjudged to be liable to the corporation unless it is judicially determined that, despite the adjudication of liability but in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnification for specified expenses. Section 1743 of the PBCL requires a business corporation to indemnify directors and officers against expenses they may incur in defending actions against them in such capacities if they are successful on the merits or otherwise in the defense of such actions. </font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 1713 of the PBCL permits the shareholders to adopt a bylaw provision relieving a director (but not an officer) of personal liability for monetary damages except where (i) the director has breached the applicable standard of care, and (ii) such conduct constitutes self-dealing, willful misconduct or recklessness. This Section also provides that a director may not be relieved of liability for the payment of taxes pursuant to any federal, state or local law or of liability or responsibility under a criminal statute. Section 4.01 of the Registrant&#146;s bylaws limits the liability of any director of the Registrant to the fullest extent permitted by Section 1713 of the PBCL. </font></p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">II-1</font></p>
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<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 1746 of
    the PBCL grants a corporation broad authority to indemnify its directors,
    officers and other agents for liabilities and expenses incurred in such capacity,
    except in circumstances where the act or failure to act giving rise to the
    claim for indemnification is determined by a court to have constituted willful
    misconduct or recklessness. Article VII of the Registrant&#146;s byanlaws provides
    indemnification of directors, officers and other agents of the Registrant
    broader than the
    indemnification permitted by Section 1741 of the PBCL and pursuant to the
authority of Section 1746 of the PBCL. </font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article VII of the bylaws provides, except as expressly prohibited by law, an unconditional right to indemnification for expenses and any liability paid or incurred by any director or officer of the Registrant, or any other person designated by the board of directors as an indemnified representative, in connection with any actual or threatened claim, action, suit or proceeding (including derivative suits) in which he or she may be involved by reason of being or having been a director, officer, employee or agent of the Registrant or, at the request of the Registrant, of another corporation, partnership, joint venture, trust, employee benefit plan or other entity. The bylaws specifically authorize indemnification against both
judgments and amounts paid in settlement of derivative suits, unlike Section 1742 of the PBCL which authorizes indemnification only of expenses incurred in defending and in settlement of a derivative action. In addition, Article VII of the bylaws also allows indemnification for punitive damages and liabilities incurred under the federal securities laws. </font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unlike the provisions of PBCL Sections 1741 and 1742, Article VII does not require the Registrant to determine the availability of indemnification by the procedures or the standard of conduct specified in Sections 1741 or 1742 of the PBCL. A person who has incurred an indemnifiable expense or liability has a right to be indemnified independent of any procedures or determinations that would otherwise be required, and that right is enforceable against the  Registrant as long as indemnification is not prohibited by law. To the extent indemnification is permitted only for a portion of a liability, the bylaw provisions require the Registrant to indemnify such portion. If the indemnification provided for in Article VII is unavailable
for any reason in respect of any liability or portion thereof, the bylaws require the Registrant to make a contribution toward the liability. Indemnification rights under the bylaws do not depend upon the approval of any future board of directors. </font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.04 of the Registrant&#146;s bylaws also authorizes the Registrant to further effect or secure its indemnification obligations by entering into indemnification agreements, maintaining insurance, creating a trust fund, granting a security interest in its assets or property, establishing a letter of credit, or using any other means that may be available from time to time. Section 1747 of the PBCL also enables a business corporation to purchase and maintain insurance on behalf of a person who is or was serving as a representative of the corporation or is or was serving at the request of the corporation as a representative of another entity against any liability asserted against that representative in his capacity as such,
whether or not the corporation would have the power to indemnify him against that liability under the PBCL. </font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant maintains, on behalf of its directors and officers, insurance protection against certain liabilities arising out of the discharge of their duties, as well as insurance covering the Registrant for indemnification payments made to its directors and officers for certain liabilities. The premiums for such insurance are paid by the Registrant. </font></p>
<p><font face="serif" size="2">Item 7.&nbsp;&nbsp;&nbsp;<u>Exemption from Registration Claimed</u></font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</font></p>
<p><font face="serif" size="2">Item 8.&nbsp;&nbsp;&nbsp;<u>Exhibits</u></font></p>
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<td width="81%" align="left"><font size="2" face="serif"><u>Exhibit</u></font></td>
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<td align="left"><div align="center"><font size="2" face="serif">5</font></div></td>
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<td align="left"><font size="2" face="serif">Opinion and consent of Morgan, Lewis &amp; Bockius LLP.</font></td>
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<td align="left"><div align="center"><font size="2" face="serif">23.1</font></div></td>
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<td align="left"><font size="2" face="serif">Consent of PricewaterhouseCoopers LLP, Independent Auditors.</font></td>
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<td align="left"><div align="center"><font size="2" face="serif">23.2</font></div></td>
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<td align="left"><font size="2" face="serif">Consent of Morgan, Lewis &amp; Bockius LLP is contained in Exhibit 5.</font></td>
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<td align="left"><div align="center"><font size="2" face="serif">24</font></div></td>
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<td align="left"><font size="2" face="serif">Power of Attorney.  Reference is made to page II-4 of this Registration Statement.</font></td>
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<td align="left"><div align="center"><font size="2" face="serif">99.1</font></div></td>
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<td align="left"><font size="2" face="serif">Aqua America, Inc. 2004 Equity Compensation Plan </font></td>
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<p align="center"><font face="Times New Roman, Times, serif" size="2">II-2</font></p>
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<p><font face="serif" size="2">Item 9.&nbsp;&nbsp;&nbsp;<u>Undertakings</u></font></p>
<p></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The undersigned Registrant hereby undertakes:
    (1) to file, during any period in which offers or sales are being made, a
    post-effective amendment to this Registration Statement: (i) to include any
    prospectus required by Section 10(a)(3) of the Securities Act of 1933, (ii)
    to reflect in the prospectus any facts or events arising after the effective
    date of this Registration Statement (or the most recent post-effective amendment
    thereof) which, individually or in the aggregate, represent a fundamental
    change in the information set forth in this Registration Statement and (iii)
    to include any material information with respect to the plan of distribution
    not previously disclosed in this Registration Statement or any material change
    to such information in this Registration Statement; provided, however, that
    clauses (1)(i) and (1)(ii) shall not apply if the information required to
    be included in a post-effective amendment by those clauses is contained in
    periodic reports filed with or furnished to the Commission by the Registrant
    pursuant to Section 13 or Section 15(d) of the Exchange Act of 1934 that
    are incorporated by reference into this Registration Statement; (2) that
    for the purpose of determining any liability under the Securities Act of
    1933 each such post-effective amendment shall be deemed to be a new registration
    statement relating to the securities offered therein and the offering of
    such securities at that time shall be deemed to be the initial bona fide
    offering thereof; and (3) to remove from registration by means of a
  post-effective amendment any of the securities being registered which remain
    unsold at the termination of the Registrant&#8217;s 2004 Equity Compensation
    Plan.</font>
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<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant&#8217;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference into this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or controlling persons of the Registrant pursuant to the indemnification provisions summarized in Item 6 or otherwise, the Registrant has been advised that, in the opinion of the Commission, such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer, or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.</font></p>

<p align="center"><font face="serif" size="2">II-3</font></p>
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<p align="center"><font face="serif" size="2"><b>SIGNATURES</b></font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8, and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Bryn Mawr, State of Pennsylvania, on June 23, 2004.</font></p>
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<td align="left" width="51%"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif"><b>Aqua America, Inc.</b></font></td>
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<td>&nbsp;</td>
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<td align="left"><font size="2" face="serif">By: <u>NICHOLAS DEBENEDICTIS</u></font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Nicholas DeBenedictis</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Chairman and Chief Executive Officer</font></td>
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<p align="center"><font face="serif" size="2"><strong>POWER OF ATTORNEY</strong></font></p>
<p><font size="2" face="serif"><strong>KNOW ALL PERSONS BY THESE PRESENTS:</strong></font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That the undersigned officers and directors of Aqua America, Inc., a Pennsylvania corporation, do hereby constitute and appoint Roy H. Stahl, Executive Vice President, and David P. Smeltzer, Chief Financial Officer, and each of them, the lawful attorneys-in-fact and agents with full power and authority to do any and all acts and things and to execute any and all instruments which said attorneys and agents, and any one of them, determine may be necessary or advisable or required to enable said corporation to comply with the Securities Act of 1933, as amended, and any rules or regulations or requirements of the Securities and Exchange Commission in connection with this Registration Statement.  Without limiting the generality of the
foregoing power and authority, the powers granted include the power and authority to sign the names of the undersigned officers and directors in the capacities indicated below to this Registration Statement, to any and all amendments, both pre-effective and post-effective, and supplements to this Registration Statement, and to any and all instruments or documents filed as part of or in conjunction with this Registration Statement or amendments or supplements thereof, and each of the undersigned hereby ratifies and confirms all that said attorneys and agents, or any one of them, shall do or cause to be done by virtue hereof.  This Power of Attorney may be signed in several counterparts.</font></p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">II-4</font></p>
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<div sytle="page-break-before:always"></div>
<page>

<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>IN WITNESS WHEREOF</b>, each of the undersigned has executed this Power of Attorney as of the date indicated.</font></p>
<p><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.</font></p>
<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top"> <td align="center"><font size="1" face="serif"><b>Signature</b></font></td>
  <td align="center">&nbsp;</td>
  <td align="center"><font size="1" face="serif"><b>Title</b></font></td>
  <td align="center">&nbsp;</td>
  <td align="center"><font size="1" face="serif"><b>Date</b></font></td> </tr>
<tr valign="top">
  <td align="left"><hr size=1 noshade>
    </td>
  <td align="left">&nbsp;</td>
  <td align="left"><hr size=1 noshade>
    </td>
  <td align="left">&nbsp;</td>
  <td align="left"><hr size=1 noshade>
    </td>
</tr>
<tr valign="top">
<td align="left" width="33%"><font size="2" face="serif"><u>NICHOLAS DEBENEDICTIS&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Nicholas DeBenedictis</font></td>
<td align="left" width="3%">&nbsp;</td>
<td align="left" width="45%"><font size="2" face="serif">Director, Chairman and Chief Executive<br>
(Principal Executive Officer)</font></td>
<td align="left" width="3%">&nbsp;</td>
<td align="left"><div align="center"><font size="2" face="serif">June 22, 2004</font></div></td>
</tr>
<tr valign="top">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left"><div align="center"></div></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif"><u>DAVID P. SMELTZER&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>David P. Smeltzer</font></td>
<td align="left">&nbsp;</td>
<td align="left"><font size="2" face="serif">Senior Vice President &#150; Finance and Chief Financial Officer<br>
(Principal Financial and Accounting Officer)</font></td>
<td align="left">&nbsp;</td>
<td align="left"><div align="center"><font size="2" face="serif">June 22, 2004</font></div></td>
</tr>
<tr valign="top">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left"><div align="center"></div></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif"><u>ROBERT RUBIN&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Robert Rubin</font></td>
<td align="left">&nbsp;</td>
<td align="left"><font size="2" face="serif">Principal Accounting Officer</font></td>
<td align="left">&nbsp;</td>
<td align="left"><div align="center"><font size="2" face="serif">June 22, 2004</font></div></td>
</tr>
<tr valign="top">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left"><div align="center"></div></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif"><u>MARY C. CARROLL&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Mary C. Carroll</font></td>
<td align="left">&nbsp;</td>
<td align="left"><font size="2" face="serif">Director</font></td>
<td align="left">&nbsp;</td>
<td align="left"><div align="center"><font size="2" face="serif">June 22, 2004</font></div></td>
</tr>
<tr valign="top">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left"><div align="center"></div></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif"><u>G. FRED DIBONA, JR.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>G. Fred DiBona, Jr.</font></td>
<td align="left">&nbsp;</td>
<td align="left"><font size="2" face="serif">Director</font></td>
<td align="left">&nbsp;</td>
<td align="left"><div align="center"><font size="2" face="serif">June 22, 2004</font></div></td>
</tr>
<tr valign="top">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left"><div align="center"></div></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif"><u>RICHARD H. GLANTON, ESQ.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Richard H. Glanton, Esq.</font></td>
<td align="left">&nbsp;</td>
<td align="left"><font size="2" face="serif">Director</font></td>
<td align="left">&nbsp;</td>
<td align="left"><div align="center"><font size="2" face="serif">June 22, 2004</font></div></td>
</tr>
<tr valign="top">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left"><div align="center"></div></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif"><u>WILLIAM P. HANKOWSKY&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>William P. Hankowsky</font></td>
<td align="left">&nbsp;</td>
<td align="left"><font size="2" face="serif">Director</font></td>
<td align="left">&nbsp;</td>
<td align="left"><div align="center"><font size="2" face="serif">June 22, 2004</font></div></td>
</tr>
<tr valign="top">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left"><div align="center"></div></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif"><u>JOHN F. MCCAUGHAN&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>John F. McCaughan</font></td>
<td align="left">&nbsp;</td>
<td align="left"><font size="2" face="serif">Director</font></td>
<td align="left">&nbsp;</td>
<td align="left"><div align="center"><font size="2" face="serif">June 22, 2004</font></div></td>
</tr>
<tr valign="top">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left"><div align="center"></div></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif"><u>JOHN E. MENARIO&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>John E. Menario</font></td>
<td align="left">&nbsp;</td>
<td align="left"><font size="2" face="serif">Director</font></td>
<td align="left">&nbsp;</td>
<td align="left"><div align="center"><font size="2" face="serif">June 22, 2004</font></div></td>
</tr>
<tr valign="top">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left"><div align="center"></div></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif"><u>RICHARD L. SMOOT&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Richard L. Smoot</font></td>
<td align="left">&nbsp;</td>
<td align="left"><font size="2" face="serif">Director</font></td>
<td align="left">&nbsp;</td>
<td align="left"><div align="center"><font size="2" face="serif">June 22, 2004</font></div></td>
</tr>
</table>
<p align="center"><font face="serif" size="2">II-5</font></p>
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<a name="p?"></a>
<p align="center"><font size="2" face="serif">SECURITIES AND EXCHANGE COMMISSION</font></p>
<p align="center"><font size="2" face="serif">WASHINGTON, D.C.</font></p>
<p align="center"><font size="2" face="serif">EXHIBITS</font></p>
<p align="center"><font size="2" face="serif">TO</font></p>
<p align="center"><font size="2" face="serif">FORM S-8</font></p>
<p align="center"><font size="2" face="serif">UNDER</font></p>
<p align="center"><font size="2" face="serif">SECURITIES ACT OF 1933</font></p>
<p align="center">
<font size="2" face="serif"><strong>AQUA AMERICA INC.</strong></font></p>
<p align="center">&nbsp;</p>
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<div style="page-break-before:always"></div>
<page>
<a name="p?"></a>
<p align="center"><font size="2" face="serif">EXHIBIT INDEX</font></p>
<table width="100%" cellspacing="0" cellpadding="0" align="center" border="0">
<tr valign="top" bgcolor="#FFFFFF">
<td align="center"><font size="2" face="serif"><u>Exhibit Number</u></font></td>
<td align="left" width="2%">&nbsp;</td>
<td width="1%" align="right">&nbsp;</td>
<td width="81%" align="left"><font size="2" face="serif"><u>Exhibit</u></font></td>
<td width="2%" align="left">&nbsp;</td> </tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#ffffff">
<td align="left"><div align="center"><font size="2" face="serif">5</font></div></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td align="left"><font size="2" face="serif">Opinion and consent of Morgan, Lewis &amp; Bockius LLP.</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><div align="center"><font size="2" face="serif">23.1</font></div></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td align="left"><font size="2" face="serif">Consent of PricewaterhouseCoopers LLP, Independent Auditors.</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#ffffff">
<td align="left"><div align="center"><font size="2" face="serif">23.2</font></div></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td align="left"><font size="2" face="serif">Consent of Morgan, Lewis &amp; Bockius LLP is contained in Exhibit 5.</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><div align="center"><font size="2" face="serif">24</font></div></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td align="left"><font size="2" face="serif">Power of Attorney.  Reference is made to page II-4 of this Registration Statement.</font></td>
<td align="left">&nbsp;</td>
</tr>
<tr valign="top" bgcolor="#ffffff">
<td align="left"><div align="center"><font size="2" face="serif">99.1</font></div></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td align="left"><font size="2" face="serif">Aqua America, Inc. 2004 Equity Compensation Plan.</font></td>
<td align="left">&nbsp;</td>
</tr>
</table>
<p align="center"><font face="serif" size="2"></font></p>
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[{"type": "S-8", "sequence": "1", "filename": "s8.htm", "description": "S-8", "secsgml_size_bytes": 39182}]
{"company-data": {"conformed-name": "AQUA AMERICA INC", "cik": "0000078128", "assigned-sic": "4941", "irs-number": "231702594", "state-of-incorporation": "PA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-116776", "film-number": "04877619"}, "business-address": {"street1": "762 LANCASTER AVE", "city": "BRYN MAWR", "state": "PA", "zip": "19010", "phone": "2155278000"}, "mail-address": {"street1": "762 LANCASTER AVE", "city": "BRYN MAWR", "state": "PA", "zip": "19010"}, "former-company": {"former-conformed-name": "PHILADELPHIA SUBURBAN CORP", "date-changed": "19920703"}}
Prepared and filed by St Ives Burrups
As filed with the Securities and Exchange Commission on June 23, 2004
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
AQUA AMERICA, INC.
(Exact name of registrant as specified in its charter)
Pennsylvania
(State or other jurisdiction
of incorporation or organization)
23-1702594
(IRS Employer Identification No.)
762 W. Lancaster Avenue
Bryn Mawr, PA 19010-3489
(Address of principal executive offices) (Zip Code)
AQUA AMERICA, INC. 2004 EQUITY COMPENSATION PLAN
(Full title of the Plan(s))
Roy H. Stahl
Executive Vice President and General Counsel
Aqua America, Inc.
762 W. Lancaster Avenue
Bryn Mawr, PA 19010-3489
(Name and address of agent for service)
(610) 527-8000
(Telephone number, including area code, of agent for service)
CALCULATION OF REGISTRATION FEE
Title of Securities to be Registered
Amount to be
Registered(1)
Proposed Maximum
Offering Price per Share(2)
Proposed Maximum
Aggregate Offering Price(2)
Amount of
Registration Fee
Common Stock, $0.50 par value
3,675,000 shares
$19.97
$73,389,750
$9,299
(1)
Pursuant to Rule 416 under the Securities Act of 1933, as amended, this Registration Statement shall also cover any additional shares of Common Stock which become issuable under the Aqua America, Inc. 2004 Equity Compensation Plan by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant's receipt of consideration which results in an increase in the number of the outstanding shares of Registrant's Common Stock.  This includes rights to purchase shares of our Series A Junior Participating Preferred Stock pursuant to the Rights Agreement dated March 1, 1998.  No separate consideration is paid for these rights and, as a result, no registration fee for these rights is included in the
fee for the common stock.
(2)
Calculated solely for purposes of this offering under Rule 457(h) of the Securities Act of 1933, as amended.  The price per share and aggregate offering price are calculated on the basis of the average of the high and low selling price per share of the Registrant's Common Stock on June 21, 2004, as reported by the New York Stock Exchange, for the 3,675,000 shares issuable under the 2004 Equity Compensation Plan that are not subject to outstanding options.
PART II
Information Required in the Registration Statement
Item 3.
Incorporation of Documents by Reference
Aqua America, Inc. (the "Registrant") hereby incorporates by reference into this Registration Statement the following documents previously filed with the Securities and Exchange Commission (the "Commission"):
(a)
The Registrant's Annual Report on Form 10-K, filed with the Commission on March 15, 2004 for the fiscal year ended December 31, 2003;
(b)
The Registrant's Quarterly Report on Form 10-Q, filed with the Commission on May 5, 2004; and
(c)
The Current Reports on Form 8-K, filed with the Commission on January 16, 2004, February 25, 2004 and May 12, 2004 and on Form 8-K/A filed June 9, 2004.
All reports and definitive proxy or information statements filed pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which de-registers all securities then remaining unsold shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing of such documents.  Unless expressly incorporated into this Registration Statement, a report furnished on Form 8-K under the Exchange Act shall not be incorporated by reference into this Registration Statement.  Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement.  Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4.
Description of Securities
Not applicable.
Item 5.
Interests of Named Experts and Counsel
Not applicable.
Item 6.
Indemnification of Directors and Officers
Sections 1741 and 1742 of the Pennsylvania Business Corporation Law of 1988, as amended (the "PBCL"), provide that, unless otherwise restricted in its bylaws, a business corporation may indemnify directors and officers against liabilities they may incur as such provided that the particular person acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the best interests of the corporation, and, with respect to any criminal proceeding, had no reasonable cause to believe his or her conduct was unlawful. In general, the power to indemnify under these sections does not exist in the case of actions against a director or officer by or in the right of the corporation if the person
otherwise entitled to indemnification shall have been adjudged to be liable to the corporation unless it is judicially determined that, despite the adjudication of liability but in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnification for specified expenses. Section 1743 of the PBCL requires a business corporation to indemnify directors and officers against expenses they may incur in defending actions against them in such capacities if they are successful on the merits or otherwise in the defense of such actions.
Section 1713 of the PBCL permits the shareholders to adopt a bylaw provision relieving a director (but not an officer) of personal liability for monetary damages except where (i) the director has breached the applicable standard of care, and (ii) such conduct constitutes self-dealing, willful misconduct or recklessness. This Section also provides that a director may not be relieved of liability for the payment of taxes pursuant to any federal, state or local law or of liability or responsibility under a criminal statute. Section 4.01 of the Registrant's bylaws limits the liability of any director of the Registrant to the fullest extent permitted by Section 1713 of the PBCL.
II-1
Section 1746 of
    the PBCL grants a corporation broad authority to indemnify its directors,
    officers and other agents for liabilities and expenses incurred in such capacity,
    except in circumstances where the act or failure to act giving rise to the
    claim for indemnification is determined by a court to have constituted willful
    misconduct or recklessness. Article VII of the Registrant's byanlaws provides
    indemnification of directors, officers and other agents of the Registrant
    broader than the
    indemnification permitted by Section 1741 of the PBCL and pursuant to the
authority of Section 1746 of the PBCL.
Article VII of the bylaws provides, except as expressly prohibited by law, an unconditional right to indemnification for expenses and any liability paid or incurred by any director or officer of the Registrant, or any other person designated by the board of directors as an indemnified representative, in connection with any actual or threatened claim, action, suit or proceeding (including derivative suits) in which he or she may be involved by reason of being or having been a director, officer, employee or agent of the Registrant or, at the request of the Registrant, of another corporation, partnership, joint venture, trust, employee benefit plan or other entity. The bylaws specifically authorize indemnification against both
judgments and amounts paid in settlement of derivative suits, unlike Section 1742 of the PBCL which authorizes indemnification only of expenses incurred in defending and in settlement of a derivative action. In addition, Article VII of the bylaws also allows indemnification for punitive damages and liabilities incurred under the federal securities laws.
Unlike the provisions of PBCL Sections 1741 and 1742, Article VII does not require the Registrant to determine the availability of indemnification by the procedures or the standard of conduct specified in Sections 1741 or 1742 of the PBCL. A person who has incurred an indemnifiable expense or liability has a right to be indemnified independent of any procedures or determinations that would otherwise be required, and that right is enforceable against the  Registrant as long as indemnification is not prohibited by law. To the extent indemnification is permitted only for a portion of a liability, the bylaw provisions require the Registrant to indemnify such portion. If the indemnification provided for in Article VII is unavailable
for any reason in respect of any liability or portion thereof, the bylaws require the Registrant to make a contribution toward the liability. Indemnification rights under the bylaws do not depend upon the approval of any future board of directors.
Section 7.04 of the Registrant's bylaws also authorizes the Registrant to further effect or secure its indemnification obligations by entering into indemnification agreements, maintaining insurance, creating a trust fund, granting a security interest in its assets or property, establishing a letter of credit, or using any other means that may be available from time to time. Section 1747 of the PBCL also enables a business corporation to purchase and maintain insurance on behalf of a person who is or was serving as a representative of the corporation or is or was serving at the request of the corporation as a representative of another entity against any liability asserted against that representative in his capacity as such,
whether or not the corporation would have the power to indemnify him against that liability under the PBCL.
The Registrant maintains, on behalf of its directors and officers, insurance protection against certain liabilities arising out of the discharge of their duties, as well as insurance covering the Registrant for indemnification payments made to its directors and officers for certain liabilities. The premiums for such insurance are paid by the Registrant.
Item 7.
Exemption from Registration Claimed
Not applicable.
Item 8.
Exhibits
Exhibit Number
Exhibit
5
Opinion and consent of Morgan, Lewis & Bockius LLP.
23.1
Consent of PricewaterhouseCoopers LLP, Independent Auditors.
23.2
Consent of Morgan, Lewis & Bockius LLP is contained in Exhibit 5.
24
Power of Attorney.  Reference is made to page II-4 of this Registration Statement.
99.1
Aqua America, Inc. 2004 Equity Compensation Plan
II-2
Item 9.
Undertakings
A. The undersigned Registrant hereby undertakes:
    (1) to file, during any period in which offers or sales are being made, a
    post-effective amendment to this Registration Statement: (i) to include any
    prospectus required by Section 10(a)(3) of the Securities Act of 1933, (ii)
    to reflect in the prospectus any facts or events arising after the effective
    date of this Registration Statement (or the most recent post-effective amendment
    thereof) which, individually or in the aggregate, represent a fundamental
    change in the information set forth in this Registration Statement and (iii)
    to include any material information with respect to the plan of distribution
    not previously disclosed in this Registration Statement or any material change
    to such information in this Registration Statement; provided, however, that
    clauses (1)(i) and (1)(ii) shall not apply if the information required to
    be included in a post-effective amendment by those clauses is contained in
    periodic reports filed with or furnished to the Commission by the Registrant
    pursuant to Section 13 or Section 15(d) of the Exchange Act of 1934 that
    are incorporated by reference into this Registration Statement; (2) that
    for the purpose of determining any liability under the Securities Act of
    1933 each such post-effective amendment shall be deemed to be a new registration
    statement relating to the securities offered therein and the offering of
    such securities at that time shall be deemed to be the initial bona fide
    offering thereof; and (3) to remove from registration by means of a
  post-effective amendment any of the securities being registered which remain
    unsold at the termination of the Registrant's 2004 Equity Compensation
    Plan.
B. The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference into this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
C. Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or controlling persons of the Registrant pursuant to the indemnification provisions summarized in Item 6 or otherwise, the Registrant has been advised that, in the opinion of the Commission, such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer, or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.
II-3
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8, and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Bryn Mawr, State of Pennsylvania, on June 23, 2004.
Aqua America, Inc.
By:
NICHOLAS DEBENEDICTIS
Nicholas DeBenedictis
Chairman and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS:
That the undersigned officers and directors of Aqua America, Inc., a Pennsylvania corporation, do hereby constitute and appoint Roy H. Stahl, Executive Vice President, and David P. Smeltzer, Chief Financial Officer, and each of them, the lawful attorneys-in-fact and agents with full power and authority to do any and all acts and things and to execute any and all instruments which said attorneys and agents, and any one of them, determine may be necessary or advisable or required to enable said corporation to comply with the Securities Act of 1933, as amended, and any rules or regulations or requirements of the Securities and Exchange Commission in connection with this Registration Statement.  Without limiting the generality of the
foregoing power and authority, the powers granted include the power and authority to sign the names of the undersigned officers and directors in the capacities indicated below to this Registration Statement, to any and all amendments, both pre-effective and post-effective, and supplements to this Registration Statement, and to any and all instruments or documents filed as part of or in conjunction with this Registration Statement or amendments or supplements thereof, and each of the undersigned hereby ratifies and confirms all that said attorneys and agents, or any one of them, shall do or cause to be done by virtue hereof.  This Power of Attorney may be signed in several counterparts.
II-4
IN WITNESS WHEREOF
, each of the undersigned has executed this Power of Attorney as of the date indicated.
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
NICHOLAS DEBENEDICTIS
Nicholas DeBenedictis
Director, Chairman and Chief Executive
(Principal Executive Officer)
June 22, 2004
DAVID P. SMELTZER
David P. Smeltzer
Senior Vice President – Finance and Chief Financial Officer
(Principal Financial and Accounting Officer)
June 22, 2004
ROBERT RUBIN
Robert Rubin
Principal Accounting Officer
June 22, 2004
MARY C. CARROLL
Mary C. Carroll
Director
June 22, 2004
G. FRED DIBONA, JR.
G. Fred DiBona, Jr.
Director
June 22, 2004
RICHARD H. GLANTON, ESQ.
Richard H. Glanton, Esq.
Director
June 22, 2004
WILLIAM P. HANKOWSKY
William P. Hankowsky
Director
June 22, 2004
JOHN F. MCCAUGHAN
John F. McCaughan
Director
June 22, 2004
JOHN E. MENARIO
John E. Menario
Director
June 22, 2004
RICHARD L. SMOOT
Richard L. Smoot
Director
June 22, 2004
II-5
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
EXHIBITS
TO
FORM S-8
UNDER
SECURITIES ACT OF 1933
AQUA AMERICA INC.
EXHIBIT INDEX
Exhibit Number
Exhibit
5
Opinion and consent of Morgan, Lewis & Bockius LLP.
23.1
Consent of PricewaterhouseCoopers LLP, Independent Auditors.
23.2
Consent of Morgan, Lewis & Bockius LLP is contained in Exhibit 5.
24
Power of Attorney.  Reference is made to page II-4 of this Registration Statement.
99.1
Aqua America, Inc. 2004 Equity Compensation Plan.