Press Release

NEW YORK, NY, Jul 17, 2008 (MARKET WIRE via COMTEX News Network) -- Consolidated Edison Company of New York, Inc. (Con Edison of New York) (NYSE: ED) today declared the following quarterly dividends on its outstanding shares of preferred stock, payable November 1, 2008, to stockholders of record as of October 1, 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.