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Con Edison of New York to Redeem Its Preferred Stock

NEW YORK, NY, Mar 07, 2012 (MARKETWIRE via COMTEX) --Consolidated Edison Company of New York, Inc. is calling for redemption on May 1, 2012 all outstanding shares of its preferred stock.

The series of preferred stock to be redeemed and the applicable redemption price per share payable for each series are shown below. The redemption prices do not include the dividends on the preferred stock that were declared on February 16, 2012, which are payable, and will be paid separately in the usual manner, on May 1, 2012 to stockholders of record as of April 11, 2012.

                                                            Redemption Price
Series                                                      Per Share

$5 Cumulative Preferred Stock                               $105.00
Cumulative Preferred Stock, 4.65% Series C                  $101.00
Cumulative Preferred Stock, 4.65% Series D                  $101.00

The Redemption Agent will be providing each registered owner of the preferred stock with a Letter of Transmittal to complete and deliver to the Redemption Agent along with the registered owner's preferred stock certificates. The name and address of the Redemption Agent is:

BNYMellon Shareowner Services Attn: Corporate Action Dept, 27th Floor 480 Washington Blvd. Jersey City, New Jersey 07310

Consolidated Edison Company of New York, Inc. 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 $39 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.

Robert McGee

SOURCE: Con Edison Co. of NY, Inc.

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