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Con Edison Announces Public Offering of Common Shares
NEW YORK, NY, Sep 27, 2010 (MARKETWIRE via COMTEX) -- Consolidated Edison, Inc. ("Con Edison") (NYSE: ED) announced today it has agreed to issue 6,300,000 of its common shares. These common shares are being offered by Morgan Stanley & Co. Incorporated under Con Edison's effective shelf registration statement filed with the Securities and Exchange Commission. The common shares are expected to be issued on October 1, 2010, subject to customary closing conditions.
Con Edison expects to invest the net proceeds from the sale of the common shares in its regulated utility subsidiary, Consolidated Edison Company of New York, Inc., for funding of its construction expenditures and for its other general corporate purposes.
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 Morgan Stanley & Co. Incorporated, Attn: Prospectus Department,180 Varick Street, New York, New York (866-718-1649).
This press release contains forward-looking statements of future expectations. Actual results might differ materially from those projected because of factors such as those indentified 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 the following 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 and adjacent sections of northern New Jersey and northeastern Pennsylvania; Consolidated Edison Solutions, Inc., a retail energy supply and services company; Consolidated Edison Energy, Inc., a wholesale energy supply company; and Consolidated Edison Development, Inc., a company that participates in infrastructure projects.
Contact: Robert McGee 212-460-4111
SOURCE: Consolidated Edison, Inc.
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