Press Release

NEW YORK, Aug. 7 /PRNewswire/ -- Consolidated Edison Company of New York, Inc. (Con Edison of New York) declared the following quarterly dividends on its outstanding preferred stock, payable November 1, 2006, to stockholders of record as of October 11, 2006:

    Preferred Stock                                   Dividend Per Share
    $5 Cumulative Preferred Stock                           $1.25
    Cumulative Preferred Stock, 4.65% Series C            $1.1625
    Cumulative Preferred Stock, 4.65% Series D            $1.1625

Con Edison of New York is a subsidiary of Consolidated Edison, Inc. (NYSE: ED), one of the nation's largest investor-owned energy companies, with approximately $12 billion in annual revenues and $25 billion in assets. The utility provides electric, gas and steam service to more than 3 million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit Con Edison of New York's Web site at http://www.coned.com.

SOURCE Consolidated Edison Company of New York, Inc. -0- 08/07/2006 /CONTACT: Joseph Petta for Consolidated Edison Company of New York, Inc., +1-212-460-4111/ /Web site: http://www.coned.com / (ED) CO: Consolidated Edison Company of New York, Inc.