Press Release

THE WOODLANDS, Texas, June 2 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) joined in the formation of Pantellos Corporation, a new company that will operate and manage an open, independent Internet marketplace for the purchase of goods and services between the energy industry and its suppliers. Con Edison is a founding member of the consortium of 15 leading North American energy and utility companies that was formed earlier this year to develop this marketplace.

The other original members of the consortium are American Electric Power, Cinergy, Duke Energy, Edison International, Entergy, FirstEnergy Corp., FPL Group, PG&E Corp., Public Service Enterprise Group, Reliant Energy, Sempra Energy, Southern Company, TXU and Unicom. To date, five additional companies -- Carolina Power and Light, DTE Energy, Dominion Resources, El Paso Energy and GPU -- have joined the Pantellos Corporation.

The consortium also announced the selection of Commerce One (Nasdaq: CMRC), a leader in eProcurement and eMarketplace systems software, as the primary technology provider.

Pantellos (pan-TELLos) is a Greek word meaning "total fulfillment." The name reflects the company's goal of providing total e-supply-chain solutions to its customers. The business-to-business exchange will operate as a single global portal for purchasing anything from transformers and wire to turbines and equipment repairs. The for-profit exchange will be open to participation by any company in the energy/utility industry.

For more information about the exchange, please visit its Website at: http://www.pantellos.com

Consolidated Edison, Inc. is one of the nation's largest investor-owned energy companies, with approximately $7.5 billion in annual revenues and more than $15 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.

    For further information, contact:

    AEP-Pat Hemlepp,                              Cinergy-Steve Brash,
        614-223-1620                               513-287-2226
    Con Edison-Mary McCartney,                    Duke Energy-Danny Gibbs,
        212-460-4111                               704-373-6680
    Edison Int'l-Diane Wittenberg,                Entergy-Betsy Shearron,
        626-302-3312                               504-576-2042
    FPL-Media Relations,                          FirstEnergy-Kristen Baird,
        305-552-3888                               330-761-4261
    PG&E Corp.-Greg Pruett,                       PSEG-Paul Rosengren,
        800-743-6397                               973-430-5911
    Reliant Energy-Sandy Fruhman,                 Sempra Energy-Ed Van Herik,
        713-207-3123                               877-866-2066
    Southern Company-Laura Gillig,                TXU-Sandy Smith,
        404-506-0570                               214-812-5977

Unicom-Jennifer Gordon,

312-394-2836 SOURCE Consolidated Edison, Inc.

CONTACT: Brenda Perez of Consolidated Edison, Inc., 212-460-4111/