Press Release

NEW YORK, NY, May 19, 2008 (MARKET WIRE via COMTEX News Network) -- Consolidated Edison Company of New York, Inc. (Con Edison of New York) today declared the following quarterly dividends on its outstanding preferred stock, payable August 1, 2008, to stockholders of record as of July 9, 2008:

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 $13 billion in annual revenues and $29 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.

Contact:
Joseph Petta
212-460-4111

SOURCE: Con Edison Co. of NY, Inc.