Exhibit 11

DOMINION RESOURCES, INC.

COMPUTATION OF EARNINGS PER SHARE OF COMMON STOCK

ASSUMING FULL DILUTION

	2001		2000		1999
	(Millions, Except Per Shares Amounts)
Basic earnings per common share:
Consolidated net income (1)	$	544	$	436	$	297
Adjustment to average common shares:
Shares of common stock—average shares outstanding		250.2		235.2		191.4
Plus: Additional shares assuming conversion of installments received on stock purchase plan at average market price (2)		0.0		0.0		0.0
Adjusted average common shares		250.2		235.2		191.4
Basic earnings per common share	$	2.17	$	1.85	$	1.55
Diluted earnings per common share:
Consolidated net income	$	544	$	436	$	285
Adjustment to average common shares:
Shares of common stock—average shares outstanding		252.5		235.9		191.4
Plus: Additional shares assuming conversion of installments received on stock purchase plan at average market price (2)		0.0		0.0		0.0
Adjusted average common shares		252.5		235.9		191.4
Diluted earnings per common share	$	2.15	$	1.85	$	1.48

Notes:  

(1)  See the Consolidated Statements of Income

(2)  Based on the following data:

	2001		2000		1999
Installments received on stock purchase plan at year-end (millions)	$	0.7	$	0.3	$	0.2
Average market price per common share	$	58.38	$	48.53	$	43.46