92472--7/9/2009--SOUTHWEST_WATER_CO

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{cost, regulation, environmental}
{operation, natural, condition}
{financial, litigation, operation}
{provision, law, control}
{personnel, key, retain}
{condition, economic, financial}
{acquisition, growth, future}
Environmental and Water Quality Risks Natural Disasters or Terrorist Activities Environmental and Water Quality Risks We have been named in litigation that may adversely affect our financial condition, results of operations and cash flows. General economic conditions may adversely affect our financial condition and results of operations. We depend significantly on the services of the members of our management team, and the departure of any of those persons could cause our operating results to suffer. Risks associated with potential acquisitions or investments may adversely affect us. Delaware law contains anti-takeover provisions that could deter takeover attempts that could be beneficial to our stockholders

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