Press Release

View the Chairman of Con Edison at the bell ringing ceremony on January 23, 2002

NEW YORK – 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 Edison's 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 Manhattan's 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 an 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. [NYSE: ED] is one of the nation's largest investor-owned energy companies, with approximately $10 billion in annual revenues and $17 billion in assets. The company provides a wide range of energy-related products and services to its customers through two regulated utility subsidiaries and four competitive energy and telecommunications businesses. For additional financial, operations and customer service information, visit the Consolidated Edison Inc. web site at www.conedison.com.

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Contact:

Michael Clendenin
212-460-4111