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Con Edison Media Relations
Contact: D. Joy Faber
Telephone: (212) 460-4111


For Immediate Release: June 8, 1998

CON EDISON INTRODUCES INTERNET ACCOUNTS PAYABLE PROGRAM FOR VENDORSMENT PLAN

Consolidated Edison Company of New York, Inc. (Con Edison) has launched another innovative Internet business tool, Accounts Payable On-Line, located at http://www.coned.com/ap/. The user-friendly site offers the company's 5,000 active vendors the ability to check the status of their invoices on-line. The company purchases $4 billion in goods and services each year to help keep the electricity, gas and steam flowing to its three million customers.

"This site is another value-added tool for our vendors to use and it complements Con Edison's existing accounts payable voice-response unit. Providing our suppliers with real-time information 24-hours-a-day makes our interaction with them easier and more efficient," said Mark L. Neumann, Con Edison's manager of accounts payable/receivable.

The site is simple to use. Vendors enter a five-digit alphanumeric payee code, or a six - or seven-digit purchase order number. They can check one or more invoices to determine when Con Edison received them and whether or not payment has been processed. Menu options allow sorting by invoice number and payment status. The user can access a single invoice and see specific information, such as payment check number and date, or view multiple invoices in a tabular format. The site also contains shipping and invoice instructions, sales tax information and an e-mail feature for questions.

"The Internet-based Accounts Payable Web site is an invaluable tool for inquiries about the payment status of invoices," said Wayne B. Pepper of Westinghouse Corporation's Business Unit Credit division, a vendor supplying materials to Con Edison. "The design and sort features of the site are excellent," he added.

Con Edison is one of the nation's largest utility companies, with more than $7 billion in annual revenues and approximately $15 billion in assets. The company, a subsidiary of Consolidated Edison, Inc., provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York.


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