Press Release

NEW YORK, Feb. 22 /PRNewswire/ -- Con Edison Communications, Inc. (CEC) announced today that it is opening its colocation facility in Manhattan in March. A colocation facility houses equipment to connect telecommunications and Internet service providers with larger networks such as the one being built by Con Edison Communications.

LighTrade, Inc., the leading provider of neutral, fully-automated pooling points, will be CEC's first major co-tenant in the hub facility at 111 Eighth Avenue. LighTrade's pooling points enable local and long-haul carriers and broad-band service providers to switch bandwidth in minutes rather than months, and provides carriers and service providers with access to multiple bandwidth vendors and customers through a single connection.

CEC has agreed to interconnect to LighTrade immediately at 111 Eighth Avenue and at all future sites in New York where both companies are present. The agreement will, in turn, give CEC access to LighTrade's pooling points in New York, enabling the two companies to achieve strategic and operational efficiencies, and to enhance telecommunications and Internet service providers' capability to rapidly deliver products and services to customers in New York's multi-billion dollar broadband market.

CEC's colocation facility, occupying 22,000 square feet on the eighth floor at 111 Eighth Avenue, will offer a variety of services to broadband service providers, unencumbered access to LighTrade's pooling point, as well as secure and reliable interconnections to CEC's metropolitan fiber optic network and national and international networks.

"We are excited to be activating our equipment in this state-of-the-art colocation hotel, and to have LighTrade as our first partner," said Peter Rust, president and CEO of Con Edison Communications, a subsidiary of Consolidated Edison, Inc. (NYSE: ED). "The agreement with LighTrade, which allows us to connect with LighTrade's pooling points, further advances our strategy of offering Internet and telecommunications providers the rapid service capabilities they need in a short lead-time, high-volume market.

"Con Edison Communications' 'last mile' strategy -- connecting telecommunications and Internet service providers to hundreds of buildings in New York - will mean a great deal to our future customers," said Ted Pierson, president and CEO of LighTrade, Inc. "This agreement will extend our reach in New York, which is one of our key markets. The hub at 111 Eighth Avenue is a key pooling point for telcos in New York City."

CEC's colocation services at 111 Eighth Avenue will also:

• Provide Internet Service Providers (ISPs) and other Internet-focused businesses with access services more quickly and efficiently

• Expand network reach for Competitive Local Exchange Carriers (CLECs) and other carriers

• Offer facilities-based services with a minimal investment to telecommunication service and value-added service providers

• Offer CEC partners secure cabinet space, climate-controlled environment, an uninterrupted power supply with backup diesel generators and a dry fire suppression system

About LighTrade, Inc.

LighTrade, Inc. is deploying carrier-neutral pooling points in major metropolitan areas in the United States and abroad. LighTrade will provide real-time interconnection and QoS (Quality of Service) monitoring services for the delivery of telecommunications capacity sold through any means - counterparty-to-counterparty, market makers, on-line trading platforms, matching services and brokerages. LighTrade's mission is to offer a dynamic, network layer solution to the current inefficiencies in the transfer of bandwidth between bandwidth service providers. For more information on LighTrade visit the company's website (http://www.lightrade.com/) or contact Doug Minster, Vice President for Corporate Development at 202-466-3490, ext. 2007 or dminster@lightrade.com, or Michael Prior, Senior Vice President, at 202-487-7221.

About Con Edison Communications, Inc.

Con Edison Communications, Inc. (CEC) is a wholly-owned subsidiary of Consolidated Edison, Inc. CEC, a carrier's carrier, will offer a comprehensive range of value-added products and services designed to enhance the performance of its customers' networks. CEC will provide managed data transport services, leased capacity services, and plans to offer in-building optical distribution to multiple classes of customers including long-distance carriers, competitive local exchange carriers and Internet, cable, wireless and video companies. CEC is installing and will operate a state-of-the-art fiber optic network in the NYC metro area connecting approximately 1,000 buildings by year-end 2005. Additional information about CEC is available at http://www.electricfiber.com./

About Consolidated Edison, Inc.

Consolidated Edison, Inc. (NYSE: ED) is one of the nation's largest investor-owned energy companies, with approximately $9 billion in annual revenues and $16 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 http://www.conedison.com./ SOURCE Con Edison Communications, Inc.

CONTACT: Robert Jewels of Con Edison Communications, 212-324-5030, Robert@electricfiber.com; or Doug Minster, 202-466-3490, ext. 2007, dminster@lightrade.com, or Michael Prior, 202-487-7221, mprior@lightrade.com, both of LighTrade, Inc.; or John Fidler or L. Kathryn Lee, both of A. Lavin Communications, 212-290-9540, mail@alavin.com, for Con Edison Communications, Inc./