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Con Edison Board Appoints Financial Executives

NEW YORK, Nov. 22 /PRNewswire/ -- The Board of Directors of Consolidated Edison Company of New York, Inc. (NYSE: ED) has named Hyman Schoenblum to the position of vice president of corporate planning. The Board also appointed Edward Rasmussen as vice president and controller. Both executive appointments will take effect December 1, 2000.

"Hyman and Ed have played critical roles in Con Edison's evolution, particularly during the past several years as the company has moved forward in the changing energy industry," said Joan S. Freilich, Con Edison's executive vice president and chief financial officer. "They are talented and experienced individuals who will continue their strong contributions to the company's success."

As vice president of Corporate Planning, Schoenblum will be responsible for developing corporate business plans and strategies, evaluating new business opportunities and directing the company's transition as deregulation of the industry continues.

Schoenblum joined Con Edison's corporate accounting department in 1971 and rose to the position of assistant controller. In 1993 he was named director of corporate planning, where he played a key role in shaping Con Edison's plan for the transition to a competitive energy industry.

In 1997, Schoenblum was named vice president and treasurer. Later that year, he was named vice president and controller.

Schoenblum took on the additional role of vice president, controller and chief financial officer of Orange and Rockland Utilities, a newly acquired subsidiary of Con Edison, in 1999.

A graduate of Baruch College, Schoenblum holds a bachelor of business administration in accounting and a master's degree in finance. He is a member of the Board of Trustees of Maimonides Medical Center and an officer and member of the board of several local, health-related, community volunteer groups.

Edward Rasmussen joined Con Edison's corporate accounting department in 1970 and rose to the position of assistant controller. In 1990, he began a three-year assignment as general manager of administration for Manhattan operations, after which he returned to his position as assistant controller. As vice president and controller, Rasmussen will manage Con Edison's corporate accounting, financial forecasting and regulatory finance areas.

Rasmussen graduated from St. Francis College in 1970, where he earned a bachelor's degree in accounting. In 1976, he received a master's degree in finance from Long Island University.

Con Edison is a subsidiary of Consolidated Edison Inc., one of the nation's largest investor-owned energy companies, with approximately $9 billion in annual revenues and $16 billion in assets. The utility provides electric, gas and steam service to more than 3 million customers in New York City and Westchester County. For additional financial, operations and customer service information, visit Con Edison's web site at SOURCE Consolidated Edison Company of New York, Inc.

CONTACT: D. Joy Faber of Consolidated Edison Company of New York, Inc., 212-460-4111/

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