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News Release

From:             Exelon Corporation                      FOR IMMEDIATE RELEASE
                  Corporate Communications                ---------------------
                  P.O. Box 805379
                  Chicago, IL  60680-5379

Contact:          Craig Nesbit    630-657-4208
                  Don Kirchoffner 312-394-3001


                   Exelon, Federal Government Reach Agreement
                      Over Spent Nuclear Fuel Storage Costs

WARRENVILLE, Ill. (Aug. 10, 2004) - Exelon Corporation and the U.S. Department
of Justice, in close consultation with the U.S. Department of Energy (DOE), have
reached a settlement under which the government will reimburse Exelon for costs
associated with storage of spent fuel at the company's nuclear stations pending
DOE fulfilling its contractual obligations to accept commercial spent nuclear
fuel.

The settlement resolves all pending spent fuel litigation brought against the
federal government by Exelon and subsidiaries Exelon Generation Company,
Commonwealth Edison Company and AmerGen Energy Company.

Under the agreement, Exelon will receive $80 million immediately in gross
reimbursements for storage costs already incurred, with additional amounts
reimbursed annually for future costs. If a national repository opens by 2010 and
DOE begins accepting spent nuclear fuel as the department has said, gross
reimbursements to Exelon would eventually total about $300 million.

In all cases, reimbursements will be made only after costs are incurred and only
for costs resulting from DOE delays in accepting the fuel. The department was to
have begun accepting fuel in 1998.

"We're pleased with the result," said Chris Crane, Exelon Nuclear's president
and chief nuclear officer. "It resolves the litigation between the parties, it
eliminates a financial uncertainty for both Exelon and DOE and it allows the
government to meet its legal obligations to a sixth of the nation's nuclear
power plants."

Crane said the settlement cannot be considered a substitute for permanent used
fuel disposal at Yucca Mountain.


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    ExelonCorporation is one of the nation's largest electric utilities with
     approximately 5.1 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 5.1 million customers in northern Illinois and Pennsylvania and
     gas to more than 460,000 customers in the Philadelphia area. Exelon is
      headquartered in Chicago and trades on the NYSE under the ticker EXC.