Exhibit 99.1


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News Release

From:      Exelon Corporation                              For Immediate Release
           Corporate Communications                        ---------------------
           P.O. Box 805379                                 October 31, 2003
           Chicago, IL 60680-5379

Contact:   Linda Marsicano, 312.394.3099, Exelon

            Exelon Corporation Replaces $1.5 Billion Credit Facility

Chicago (October 31, 2003) - Exelon Corporation (NYSE:EXC) announced today the
replacement of its $1.5 billion credit facility, which expires in November.
Exelon, along with ComEd, PECO and Exelon Generation, will participate in the
new $1.5 billion unsecured revolving credit facility. The credit facility is
equally split into a $750 million 364-day agreement and a $750 million 3-year
agreement with twenty-three banks and was substantially over-subscribed. The
facility will be used principally to support the commercial paper programs at
the Exelon holding company level and at ComEd, PECO and Exelon Generation and
the issuance of letters of credit. The credit facility also includes a term-out
option that would allow Exelon to extend the 364-day agreement for an additional
one year.

"The strong credit support received from the banking community is indicative of
the strength of our banking relationships," said Barry Mitchell, Exelon's Senior
Vice President and Treasurer. "We continue to be committed to improving the
financial performance of our core operations and strengthening our balance
sheet."

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    Exelon Corporation is one of the nation's largest electric utilities with
      approximately 5 million customers and more than $15 billion in annual
             revenues. The company has one of the industry's largest
     portfolios of electricity generation capacity, with a nationwide reach
    and strong positions in the Midwest and Mid-Atlantic. Exelon distributes
        electricity to approximately 5 million customers in Illinois and
           Pennsylvania and gas to more than 440,000 customers in the
                  Philadelphia area. Exelon is headquartered in
              Chicago and trades on the NYSE under the ticker EXC.