Fitch Rates Consolidated Edison Co of New York $125MM Debentures 'A+'

Business Wire, June 21, 2005

NEW YORK -- Fitch Ratings has assigned an 'A ' rating to Consolidated Edison Company of New York's (CECONY) new issue of $125 million 5.25% debentures, series 2005 B due 2035. This issue will rank equally with CECONY's existing senior unsecured obligations. The proceeds of the issuance will be used for general corporate purposes, including funding of construction expenditures. The Rating Outlook is Stable.

CECONY is a regulated utility subsidiary of Consolidated Edison, Inc. that provides electric service in all of New York City (except part of Queens) and most of Westchester County, an approximately 660-square-mile service area, with a population of more than eight million. It also provides gas service in Manhattan, the Bronx, and parts of Queens and Westchester, and steam service in parts of Manhattan. CECONY's parent and sole owner is Consolidated Edison, Inc. (senior debt rated 'A-' by Fitch).

Fitch's rating definitions are available on the agency's public web site, 'www.fitchratings.com'. Published ratings, criteria and methodologies and relevant policies and procedures are also available from this site, at all times. This document will remain on the public site for seven days.