Press Release

NEW YORK, NY, Nov 20, 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 preferred stock, payable February 1, 2009, to stockholders of record as of January 14, 2009:

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:
Media Relations
212-460-4111

SOURCE: Con Edison Co. of NY, Inc.