EXHIBIT 99.1

Slide 1

[Exelon logo]

Exelon Corporation Investor Update

John Rowe, Chairman and CEO
Bob Shapard, Executive VP and CFO

New York City
February 11, 2003




Slide 2

[Exelon logo]

Forward-Looking Statements

This presentation contains certain forward-looking statements within the meaning
of the Private  Securities  Litigation  Reform Act of 1995. These statements are
based on management's  current  expectations  and are subject to uncertainty and
changes  in   circumstances.   Actual  results  may  vary  materially  from  the
expectations  contained herein.  The  forward-looking  statements herein include
statements  about future  financial and operating  results of Exelon.  Economic,
business,  competitive and/or regulatory  factors affecting Exelon's  businesses
generally  could cause actual results to differ  materially from those described
herein.  For a  discussion  of the factors  that could cause  actual  results to
differ materially,  please see Exelon's filings with the Securities and Exchange
Commission, particularly those factors discussed in "Management's Discussion and
Analysis of Financial Condition and Results of Operations - Outlook" in Exelon's
2001  Annual  Report,  those  discussed  in  "Risk  Factors"  and  "Management's
Discussion  and Analysis of Financial  Condition and Results of  Operations"  in
Exelon  Generation  Company's  Registration  Statement  on Form  S-4,  Reg.  No.
333-85496,   those  discussed  in  "Risk  Factors"  in  PECO  Energy   Company's
Registration  Statement on Form S-3, Reg. No. 333-99361,  and those discussed in
"Risk Factors" in Commonwealth Edison Company's  Registration  Statement on Form
S-3, Reg. No.  333-99363.  Readers are cautioned not to place undue  reliance on
these  forward-looking  statements,  which  speak  only  as of the  date of this
presentation.  Exelon does not undertake any obligation to publicly  release any
revisions to these forward-looking statements to reflect events or circumstances
after the date of this presentation.





Slide 3

[Exelon logo]

One Company, One Vision

Exelon  strives  to  build  exceptional  value - by  becoming  the best and most
consistently  profitable  electricity  and gas company in the United States.  To
succeed, we must....
-LIVE UP TO OUR COMMITMENTS
-PERFORM AT WORLD-CLASS LEVELS
-INVEST IN OUR CONSOLIDATING INDUSTRY





Slide 4

[Exelon logo]

Live Up To Our Commitments
o    To Our Customers
o    To Our Employees
o    To Our Investors




Slide 5

[Exelon logo]

Perform At World-Class Levels
o Pursue greater productivity, quality and innovation
o Understand the relationships among our businesses and optimize the whole
o Promote and implement policies that build effective markets
o Adapt rapidly to changing markets, politics, economics and technology
o Maximize the earnings and cash flow from our assets and businesses





Slide 6

[Exelon logo]

Invest in our consolidating industry
o Develop strategies based on experience
o Implement systems and best practices
o Prioritize acquisition opportunities
o Return earnings to shareholders absent investment opportunities





Slide 7

[Exelon logo]

Opportunities and Challenges for 2003

o Enterprises (rationalize investment)
o Illinois regulatory environment (Liberty Audit, POLR, new state leadership)
o Exelon New England plants (operate, integrate and optimize)
o Sithe Energies investment (buy, sell, restructure)
o AmerGen investment (buy, sell, maintain)
o The Exelon Way





Slide 8

[Exelon logo]

2003 EPS Guidance:  $4.80-$5.00

[This slide is a waterfall  chart  entitled  "Expected  EPS Drivers" that starts
with  "2002  Actual"  EPS of  $4.44,  adds a net EPS  gain of $0.39  from  "AT&T
Wireless  Sale/SFAS  142/Severance",  and  illustrates  that Exelon  expects the
following  drivers  to  add  or  subtract  from  EPS,  as  indicated,  to  reach
$4.94-$4.99:

$4.44 (2002  Actual) + $0.39 (AT&T  Wireless  Sale/SFAS  142/Severance)  - $0.08
(Weather) + $0.25  (Midwest  Gen) + $0.11 (Fewer  Nuclear  Outages) - $0.07 (FAS
143) - $0.20 (Sithe) - $0.24  (Pension/Other  Post-Retirement  Benefit  Costs) +
$0.16 (Enterprises Breakeven) + $0.13 (Interest Savings) + $0.05-$0.10 (Delivery
Sales Growth) = $4.94-$4.99.

On the right  side of the  chart,  the chart  identifies  additional  "Risks and
Opportunities" that Exelon expects may affect EPS as follows:]

Cost Management Initiative Carryover +
Higher Market Prices +
Regulatory Settlement -
The Exelon Way +