Press Release

WHITE PLAINS, NY, March 21, 2001 - WHITE PLAINS, NY, March 22, 2001 - The Board of Directors of ConEdison Solutions announced today that JoAnn F. Ryan has been named President and CEO, effective April 1st, succeeding John E. Boyd who resigned to become chief executive officer of EUR Systems.

"Ms. Ryan brings a strong background in operations and customer service to the leadership of ConEdison Solutions," said Charles Soutar, Chair of the Board of Directors. Mr. Soutar referenced the positive financial performance of ConEdison Solutions in 2000 when he said "the strength of what is now a $500 million dollar business will surely grow under JoAnn's leadership as she brings the full measure of her tremendous background to bear on the successful strategies ConEdison Solutions has employed." "Over the last three years, we have built this business with the single goal of helping our customers take greater advantage of energy deregulation to grow their businesses and reduce their costs," Ms. Ryan said. "I intend to keep ConEdison Solutions on that course."

ConEdison Solutions, the leading provider of energy services in the northeast, is a wholly owned subsidiary of Consolidated Edison Inc. and the company's full-service unregulated energy services company (ESCO). Its operations range from energy services, wholesale and retail natural gas marketing to all forms of retail and wholesale energy supply (e.g., electricity, natural gas, oil, and propane).

Through its Total Energy Optimization program, ConEdison Solutions helps its customers control their total energy costs by using the opportunities created by deregulation to better manage the way they use electricity and natural gas. Effective operation in a deregulated energy marketplace requires command of the information historically generated, managed, and maintained by utilities as well as the information generated by customers themselves. ConEdison Solutions helps customers do just that.

Ms. Ryan has broad experience in managing complex operations and the information technology required to support them. She was, until recently, Vice President at ConEdison Solutions responsible for Information Technology and Operations. During Ms. Ryan's 22-year career in the energy business, she has held various positions within IT, customer service, and strategic planning organizations. Ms. Ryan graduated summa cum laude from Baruch College in New York and holds an MS in Computer Information Systems from the same institution.

ConEdison Solutions, a subsidiary of Consolidated Edison, Inc. (NYSE: ED) is one of the leading energy services providers in the northeastern United States. In addition to providing energy resource management services, the company provides electricity and/or natural gas to customers in New York, Pennsylvania, New Jersey and Connecticut. More information can be obtained by calling 1-888-210-8899, or visiting the ConEdison Solutions web site at www.ConEdSolutions.com.