Con Edison names new board member

NEW YORK, July 2, 2002 — Consolidated Edison Inc. announced the election of Frederic V. Salerno, vice chairman, Verizon Communications, to the Board of Directors of Consolidated Edison, Inc. and to the Board of Trustees of its subsidiary, Consolidated Edison Company of New York, Inc. He was elected at the Board’s June 20 meeting.

“Fred Salerno has tremendous depth of experience in the telecommunications field, particularly in the areas of strategic planning and business development. His skills and insight will benefit Con Edison’s customers, shareholders and employees,” said Eugene R. McGrath, chairman and CEO of Con Edison.

Salerno, vice chairman of Verizon Communications, has spent 37 years with the company, starting with New York Telephone in 1965. Earlier this year, Salerno announced that he will retire by the end of 2002. He is also widely recognized for his commitment to philanthropic efforts in the city and state.

A native New Yorker, Salerno received a Bachelor of Science degree in electrical engineering from Manhattan College and a Master of Business Administration degree from Adelphi University.

Consolidated Edison, Inc. (NYSE: ED – News) is one of the nation’s largest investor-owned energy companies, with approximately $10 billion in annual revenues and $17 billion in assets. The company provides a wide range of energy-related products and services to its customers through two regulated utility subsidiaries and four competitive energy and telecommunications businesses. For additional financial, operations and customer service information, visit the Consolidated Edison, Inc. web site at

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