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For Immediate Release: November 3, 1997

CON EDISON SIGNS MEMORANDUM OF UNDERSTANDING
WITH BEIJING POWER SUPPLY BUREAU

Con Edison announced today that it has signed a Memorandum of Understanding (MOU) with the Beijing Power Supply Bureau to promote cooperation between the two companies.

By signing the document, the two parties "affirm their commitment to their lasting friendship and share a determination to further the safe, reliable, effective and efficient development, operation and maintenance of electric utility enterprises for the benefit and prosperity of those we each serve."

Representatives of Con Edison, including Chairman and CEO Eugene R. McGrath, Chief Financial Officer Joan Freilich and Con Edison Development President Charles Mouio traveled to Beijing, China for today's signing of the MOU. Con Edison representatives have made several prior trips to China to explore business opportunities and establish relationships for future cooperative endeavors.

"Con Edison and the Beijing Power Supply Bureau have much in common, including the density of our respective service areas," said McGrath. "There is much we can learn from each other, and our new friendship will serve to benefit electricity consumers in both Beijing and New York."

The MOU serves as a starting point to identify needs and opportunities that might be pursued for the mutual benefit of both companies and their customers. It expresses both parties' intentions to establish and promote long-term cooperative relations, including the exchange of information and personnel visits.

The MOU was signed by McGrath of Con Edison and by Zhang Yi Shi, Director of the Beijing Power Supply Bureau.




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