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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

CON EDISON DEVELOPMENT INVESTS
IN MICHIGAN COGENERATION PROJECT

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 www.conedison.com .

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 www.mcnenergy.com.

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