Exhibit 99

                                                                   [EXELON LOGO]
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News Release


From:      Exelon                                          FOR IMMEDIATE RELEASE
           Corporate Communications                        April 27, 2004
           P.O. Box 805379 Chicago, IL 60680-5379

Contact:   Jennifer Medley, Media Relations
           312.394.7189
           Michael Metzner, Investor Relations
           312.394.7696

                  Exelon Corporation Declares Regular Dividend,
                 Announces Equity Plan Share Repurchase Program

Chicago (April 27, 2004) -- The Board of Directors of Exelon Corporation today
declared a regular quarterly dividend of $0.275 per share ($0.55 on a pre-split
basis) on Exelon's common stock. The dividend is payable on June 10, 2004, to
shareholders of record of Exelon at 5:00 p.m. EDT on May 15, 2004.

Exelon's Board also approved a share repurchase program. Exelon intends to use
proceeds from stock option exercises and the company's Employee Stock Purchase
Plan (ESPP) in 2004 and beyond to buy back shares in order to partially offset
dilution. The repurchases will be made periodically in the open market as
determined by management.

"Since the time of the Unicom/PECO merger in October 2000 through the end of
2003, Exelon's stock price was up more than 11 percent, outperforming the
Philadelphia Utility Index by more than 25 percent and the S&P 500 by more than
30 percent," said John W. Rowe, Exelon chairman and CEO. "But despite our strong
share price, we continue to believe that we are undervalued relative to our
peers. The share repurchase program is an investment in Exelon's future and will
enhance shareholder value."

Earlier this year, Exelon announced a 2-for-1 stock split. Shareholders of
record at the close of business on April 19, 2004 will be issued one additional
share of Exelon common stock for each share owned as of that date. The
additional shares resulting from the split will be issued in book-entry form on
or about May 5, 2004. The quarterly dividend of $0.275 per share will be paid on
a post-split basis.


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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




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       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.