Con Edison Media Relations
For Immediate Release: May 10, 2004
CON EDISON ANNOUNCES PLANS FOR COMMON STOCK OFFERING
NEW YORK - Consolidated Edison, Inc. [NYSE: ED] announced today (Monday, May 10,
2004) that it plans to commence a public offering of 14,000,000 common shares.
In connection with the offering, the company will grant the underwriters an option
for a period of 30 days to purchase up to an additional 1,400,000 common shares
to cover over-allotments.
The offering will be made under the company's existing shelf registration statements,
which have been declared effective by the Securities and Exchange Commission.
The joint book-running managers for the offering are Citigroup Global Markets
Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy these securities, nor shall there be any sale of these securities,
in any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such jurisdiction.
The offering of these securities may be made only by means of the prospectus and
related prospectus supplement relating to the offering. Investors will be able
to obtain a copy of such documents from Citigroup Global Markets Inc., 388 Greenwich
Street, New York, New York 10013 and Merrill Lynch, Pierce, Fenner & Smith
Incorporated, 4 World Financial Center, New York, New York 10281.
This press release contains forward-looking statements of future expectations.
Actual results might differ materially from those projected because of factors
such as those identified in reports the company has filed with the Securities
and Exchange Commission.
Consolidated Edison, Inc. 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
in 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 and 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, a company that owns and operates
generating plants and participates in other infrastructure projects; and Con Edison
Communications, a telecommunications infrastructure company and service provider.