Exhibit (99)
               Unicom Corporation and Commonwealth Edison Company
               Form 8-K File Nos. 1-11375 and 1-1839
<News Release>                                 <ComEd Letterhead> 
            
From:     Corporate Communications       
          One First National Plaza                        
          Chicago, IL  60690
          http://www.ucm.com

Contact:  Matthew Triaca
          312-394-3003                      FOR IMMEDIATE RELEASE
                              7:00am CST, Thursday April 23, 1998

            ComEd Seeks ICC Approval to Issue $3.4 Billion 
                   in Asset-Backed Securities

     Chicago - ComEd, a subsidiary of Unicom Corporation,
announced today a filing with the Illinois Commerce Commission
(ICC) that seeks approval for the utility to issue up to $3.4
billion in  asset-backed securities, which will be secured by
certain revenue streams of the company.

The Illinois Electric Service Customer Choice and Rate Relief Law
of 1997 permits ComEd to issue a total of up to $6.8 billion of
asset-backed securities, which is one-half of its total 1996  
capitalization.  Up to $3.4 billion can be issued between August
1998 and August 1999.  ComEd plans to use the proceeds to
refinance its debt and equity. 

     According to Unicom/ComEd Vice President and Treasurer Ruth
Ann Gillis, refinancing capital will ultimately help facilitate
ComEd's transition to the competitive marketplace.

     "As electricity choice comes to Illinois, it is important
that ComEd use available tools to prepare the company for
competition," said Gillis.  "Asset-backed securities typically
carry a high  quality credit rating and favorable interest rates. 
Therefore, refinancing debt and equity with such securities will
reduce the cost of capital, strengthen ComEd and Unicom's
financial position, and enhance shareholder value."

     The company anticipates that between $750 million and $1.14
billion of the proceeds will be used to repurchase shares of
Unicom's stock.  At current market prices, this would represent
22 million to 33 million shares, or 10 to 15 percent of
outstanding common stock.  The Boards of Directors of Unicom and
ComEd have approved the repurchase of up to 33 million shares of
common stock.  The remaining proceeds will be used to redeem
preference stock and debt.
                            (more)


ComEd Seeks ICC Approval
April 23, 1998
Page 2

     ComEd has named Goldman, Sachs & Co. the lead manager. 
Salomon Smith Barney and Merrill Lynch & Co. will be the co-lead
managers.

ComEd, a subsidiary of Chicago-based Unicom Corporation
(NYSE:UCM), is engaged primarily in the production, purchase,
transmission, distribution and sale of electricity to wholesale
and retail   customers.  ComEd provides service across the
northern fifth of Illinois, serving about 3.4 million customers,
or 70 percent of the state's population.

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Analysts/Investors contact:   Eunice Collins
                              312-394-8354