For Immediate Release: November 4, 1997
CON EDISON SETS SPECIAL STOCKHOLDERS' MEETING TO APPROVE COMPANY RESTRUCTURING
Consolidated Edison Company of New York, Inc. (Con Edison - NYSE:
ED) today began mailing a proxy statement to its stockholders
announcing a special stockholders' meeting to be held on Friday,
December 12, 1997 at 10:00 a.m. at Con Edison's headquarters, 4
Irving Place, New York, New York to approve a proposal to adopt a
holding company structure in which Con Edison will become a
subsidiary of a holding company, to be named Consolidated Edison,
The proxy statement, which contains information about the holding
company proposal, was included in a registration statement that was
filed with the Securities and Exchange Commission and declared
effective on Friday, October 31. Under the holding company proposal,
outstanding shares of Con Edison common stock will be exchanged
automatically on a share-for-share basis for shares of the holding
company's common stock. The company's preferred stockholders will
remain stockholders of Con Edison.
Common and $5 preferred stockholders of record as of October 28,
1997 will be eligible to vote.
The proxy statement is available through the web site of the Securities
and Exchange Commission (http://www.sec.gov), as a filing made by
Consolidated Edison, Inc. It may also be obtained by writing Con Edison
Investor Services, P.O. Box 149, Cooper Station, New York, N.Y.
10276-0149, or by calling (800) 522-5522.
Con Edison provides electric, gas and steam service to three million
customers in New York City and Westchester County, New York.