Press Release

(New York, N.Y.) - Con Edison Chairman and CEO Eugene R. McGrath was honored with a Distinguished Community Development Award by the New York Housing Conference and the National Housing Conference. The award was presented at a luncheon on December 12 in Manhattan.

The non-profit coalition represents major participants in affordable housing, including developers, owners, residents, planners and community leaders.

The conference saluted McGrath and Con Edison [NYSE: ED] for their work revitalizing Parkchester, home to 8,000 Bronx residents and one of the largest privately-owned apartment complexes in the country with 116 buildings. Con Edison is upgrading electrical wiring in the 61-year-old complex. Installation of 80-amp service gives residents the option of installing air conditioners or other major appliances.

"We are all delighted to be part of the rebirth of Parkchester. The people at Con Edison look forward to many more successful partnerships to develop and enhance affordable housing in New York City," McGrath said.

The New York Housing Conference-National Housing Conference also honored Joseph B. Lynch, commissioner of the New York State Division of Housing and Community Renewal; Jeffrey B. Levine, president of Levine Builders; George L. Engelke Jr., chairman, president and CEO of Astoria Federal Savings and Loan Association, and Kenneth J. Witkin, managing director of the Fleet Real Estate Group.

Con Edison is a subsidiary of Consolidated Edison, Inc., one of the nation's largest investor-owned energy companies, with approximately $9 billion in annual revenues and $16 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit Con Edison's web site at www.coned.com .

CONTACT:

Michael Clendenin
(212)-460-4111