Exhibit 99.1

                                                                   [Exelon Logo]


News Release

From:      Exelon Corporation                          FOR IMMEDIATE RELEASE
           Corporate Communications                    September 26, 2002
           P.O. Box 805379
           Chicago, IL  60680-5379

Contact:   Don Kirchoffner, Exelon Media Relations
           312.394.3001
           John Hatfield, ComEd Media Relations
           312.394.4214
           Linda Byus, CFA, Investor Relations
           312.394.7696


  Exelon Accounting for Merger Goodwill is Appropriate, Federal Regulators Rule

Chicago (September 26, 2002) - Exelon Corporation (NYSE:EXC) received approval
today from the Federal Energy Regulatory Commission (FERC) for its accounting
treatment for goodwill during a corporate restructuring in January 2001. FERC's
decision means that Commonwealth Edison (ComEd), Exelon's Illinois energy
delivery subsidiary, will not be required to remove goodwill from its books, as
FERC had directed in a previous letter order dated August 27, 2002.

In a letter order today signed by Deputy Executive Director and Chief Accountant
John M. Delaware, FERC ruled that, "Since the issuance of the August 27th
letter, however, ComEd has provided the Commission, as well as the Securities
and Exchange Commission, with extensive additional information to support
ComEd's contention that the amount recognized as goodwill on its books relates
entirely to ComEd's energy delivery business and thus no portion of that amount
should be associated with the facilities and businesses transferred to
Generation."

The ruling comes a week after the Securities and Exchange Commission (SEC)
notified Exelon that it did not object to the company's treatment of goodwill.
The SEC's decision was significant because it confirmed Exelon's position that
the company's accounting complied with generally accepted accounting principles
(GAAP).

"This was a particularly important matter for us to resolve swiftly and
conclusively, not only because of the potential impact on our shareholders, but
also because of our uncompromising commitment to honest reporting," stated
Exelon Chairman and Chief Executive Officer John W. Rowe. "Our accounting was
open and appropriate, and we are quite pleased to have this behind us. I
particularly appreciate the support we received from members of the Illinois
Commerce Commission."





Page 2

Exelon Senior Vice President Elizabeth Moler praised federal regulators for
their quick action. "Officials at FERC and the SEC deserve great credit for
recognizing the potential impact of this issue on Exelon and on the continued
development of competition in Illinois. Their professionalism and thoroughness
was extraordinary," said Moler.

The accounting issue arose last month when FERC staff sent ComEd a letter order
ruling that an unspecified amount of goodwill should be removed from ComEd's
books in conjunction with the company's January 2001 transfer of nuclear units
and power marketing operations to its affiliate Exelon Generation Company, LLC.
ComEd responded that the company's accounting treatment was consistent with
GAAP, and that FERC's order would unintentionally disrupt the continued
development of competition in Illinois. ComEd filed a petition on September 9
asking FERC for a rehearing.

Today's FERC order stated, "Based on our review of the additional information
ComEd has provided and the additional disclosures it intends to provide in the
2002 FERC Form 1 regarding the sensitivity of the goodwill impairment analysis,
we have no objection to ComEd's determination that none of the goodwill was
related to assets transferred to Generation."

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    This press release 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 causeactual 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 discussed in
   "Management's Discussion and Analysis of Financial Condition and Results of
  Operations -- Outlook" in Exelon's 2001 Annual Report. Readers are cautioned
  not to place undue reliance on these forward-looking statements, which speak
    only as of the date of this press release. 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 press release.


    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.