Exhibit 99



                                                                   [EXELON LOGO]
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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 Rejects All Offers on Purchase of AmerGen, No Longer Intends to Sell

(Chicago)  March 7, 2003 -- Exelon  Generation  Company and British  Energy have
agreed to reject all offers for the  purchase  of AmerGen  Energy Co. LLC and to
terminate the auction process, the two companies announced today.

Both  parties  reviewed  the bids and  concluded  none were  adequate.  With the
rejection  of these  offers,  Exelon no longer  intends to sell its  interest in
AmerGen.  When Exelon  announced it would undertake the exploratory sale process
on Sept. 4, 2002, it indicated  that it would  consider  selling its  50-percent
share of  AmerGen  only at the right  price.  With the  termination  of the sale
process,  Exelon has decided to continue its investment in AmerGen and the three
AmerGen  plants  will  continue  to operate as they have to date,  with a strong
commitment to safety and operational excellence.

Exelon and  British  Energy  each owns half of  AmerGen,  which  consists of the
Clinton  Power  Station  in central  Illinois,  Three  Mile  Island  Unit 1 near
Harrisburg,  Pa.,  and the  Oyster  Creek  Generating  Station on the New Jersey
shore. The three single-unit plants have a total capacity of approximately 2,500
megawatts.

AmerGen was formed in 1997 as a joint  venture  between PECO Energy  Company and
British Energy. PECO merged with Unicom of Chicago in 2000 to form Exelon.





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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. The company also has holdings
       in such competitive businesses as energy, infrastructure services,
       energy services and telecommunications. Exelon is headquartered in
              Chicago and trades on the NYSE under the ticker EXC.