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Con Edison Media Relations
Contact: Michael Clendenin
Telephone: (212) 460-4111

For Immediate Release: January 23, 2002

CON EDISON CEO TO RING CLOSING BELL AT NEW YORK STOCK EXCHANGE

NEW YORK Ė Consolidated Edison, Inc. (Con Edison) Chairman, President and CEO Eugene R. McGrath will be joined by other company executives and field personnel today to ring the closing bell of the New York Stock Exchange (NYSE) at 4:00 p.m.

McGrath was invited to ring the closing bell by NYSE Chairman and CEO Richard Grasso in recognition of Con Edisonís response and restoration efforts following the September 11, 2001 terrorist attack on the World Trade Center.

Con Edison deployed a workforce of 1,900 men and women working around the clock to restore electric, gas and steam service to lower Manhattan following the attack. Full electrical service was restored in time for the re-opening of the stock exchange on September 17, 2001. Company crews ran 36 miles of temporary electrical cable above ground, restoring electric service to more than 13,300 customers. In addition, gas service was restored to more than 5,500 customers and steam service to 300 customers.

The process of permanent restoration of lower Manhattanís utility infrastructure is already well underway. The job of moving the temporary electrical lines underground and building a new substation is expected to be completed in time to meet summer electricity demand. The company has also built a new gas-regulator station in the area, and installed a new steam main to provide heat and hot water to the World Financial Center.

Consolidated Edison, Inc. is one of the nationís largest investor-owned energy companies, with approximately $10 billion in annual revenues and approximately $17 billion in assets. The company provides a wide range of energy-related products and services to its customers through its six subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service to New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,350 square mile area in southeastern New York State, as well as adjacent sections of northern New Jersey and northeastern Pennsylvania; Con Edison Solutions, a retail energy services company; Con Edison Energy, a wholesale energy supply company; Con Edison Development, an infrastructure development company; and Con Edison Communications, a telecommunications infrastructure company.

For additional financial, operations and customer service information, visit the Consolidated Edison, Inc. web site at www.conedison.com.




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