Dec. 12, 2002 -- Consolidated Edison Company of New York, Inc. announced that today it will call for redemption on January 12, 2003 all of its outstanding 7 3/4% Quarterly Income Capital Securities, (Series A Subordinated Deferrable Interest Debentures) at a redemption price of 100% of the principal amount thereof, together with accrued interest from January 1, 2003 to and including January 11, 2003.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Consolidated Edison Co. of New York Inc., 7 3/4% Quarterly Income Capital Securities (QUICS), Series A Subordinated Deferrable Interest Debentures, issued in $25 denominations, redeemable at the issuer's option on or after 3/31/2001 at $25 per share plus accrued and unpaid interest, maturing 3/31/2031, distributions are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record at the close of business on the 15th day of the month in which the payment is made. The company has the right, at any time, to defer interest payments for up to 20 consecutive quarters (see prospectus for details). The QUICS are general unsecured debt securities of the Company and will rank equally with all other unsecured indebtedness of the Company. The units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. Consolidated Edison Co. of New York Inc. is a wholly-owned subsidary of Consolidated Edison Inc. (NYSE: ED).

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	7.75% $1.9375	$25.00 $25.00	Called for 1/12/2003 3/31/2031	-  -  -	3/31, 6/30, 9/30 & 12/31 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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Email Address	childressj@conedison.com
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Address:   4 Irving Place, New York, NY 10003
Main Phone Number	212-460-4600
Fax Number	212-475-0734
Investor Relations   Jan Childress	212-460-6611
Toll Free Phone Number	800-752-6633

CEO - Kevin Burke

CFO - Robert N. Hoglund