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Con Edison Media Relations
Contact: Richard Mulieri
Telephone: (212) 460-4111

MCN ENERGY CONTACTS: Thomas Connelly (313) 256-6701 (analyst)
Stewart Lawrence (313) 256-6289 (media)

For Immediate Release: April 7, 1998


Consolidated Edison Development, Inc., in partnership with Delta Power Company, LLC, of Morristown, New Jersey, announced today that it has completed the acquisition of a 50-percent share in an electric and steam power generation plant in Michigan from a unit of MCN Energy Group Inc. (NYSE: MCN). Financial terms of the deal were not disclosed.

Con Edison Development, a wholly owned subsidiary of Consolidated Edison, Inc. (NYSE: ED), made the investment in the Ada Cogeneration Project in Ada, Michigan through an affiliate it formed with Delta, which is the minority partner. The affiliate, CED/DELTA Ada, will be both a limited partner and a general partner in the project, along with MCNIC Power Company, a subsidiary of MCN Energy Group. The plant is a 29.4-megawatt cogeneration facility that sells electricity and steam under contracts with Consumers Energy and Amway International.

Both CED/DELTA Ada and MCNIC Power refinanced the entire project through ABN AMRO Bank N.V.'s Project Finance Group in Chicago.

"The Ada project is an operating cogeneration plant with a proven track record," said Charles Muoio, president of Con Edison Development. "Our investment in this project establishes the beginning of a strategic partnership with MCNIC Power Company. The companies intend to cooperate on additional domestic and foreign projects."

Consolidated Edison Development, Inc., is a New York City- based company that invests in energy infrastructure development projects worldwide.

Consolidated Edison, Inc. is one of the nation's largest investor-owned energy companies, with more than $7 billion in annual revenues and nearly $15 billion in assets. The company provides a wide range of energy-related products and services to its customers through its four subsidiaries: Consolidated Edison Company of New York, Inc. (Con Edison), a regulated utility providing electric, gas and steam service to New York City and Westchester County, New York; Con Edison Solutions, a retail energy services company; Con Edison Energy, a wholesale energy supply company; and Con Edison Development. For additional financial, operations and customer service information, visit the Consolidated Edison, Inc. web site at .

MCN Energy Group is a diversified energy company located in Detroit, Michigan, with more than $4 billion in assets. Information about MCN Energy Group can be found on its web site at

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