Press Release

(New York, N.Y.) - Consolidated Edison Company of New York (Con Edison) has appointed Joseph Oates vice president of Energy Management. Con Edison's Board of Directors announced the executive appointment today.

"Joe's extensive experience and skills have earned him an excellent reputation throughout his career in our company and in the industry," said Con Edison's president Kevin Burke. "His talents will be invaluable to continue meeting our customers' energy needs."

Oates, 40, joined Con Edison in 1987 as an associate engineer in Building and Projects, Construction Department. Since then he has held several positions of increasing responsibility in the Construction, Auditing, Generation Planning, Energy Management and Corporate Planning departments. Most recently, he served as director of the Independent System Operator (ISO) Analysis Group. In this position he was responsible for coordinating and developing company positions regarding the New York Independent System Operator and other electricity market issues. Prior to joining Con Edison, he worked at Central Hudson Gas and Electric.

Oates holds both undergraduate and graduate degrees in Mechanical Engineering from Manhattan College and an MBA from Fordham University. He lives in White Plains, New York with his wife and children.

"I'm excited about the opportunity to lead our Energy Management organization," said Oates. "One of our most significant responsibilities is ensuring a cost-efficient and reliable supply of electricity and gas for our service territory and our customers. Fulfilling that responsibility will be a tremendous challenge for all of us and I am looking forward to meeting it."

Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $10 billion in annual revenues and $16 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit Con Edison's web site at www.coned.com.

Contact: Brenda Pérez
July 19, 2001
(212) 460-4111