The following message,  beginning on March 8, 2000, will be recorded on The Con
Edison/NU Merger Information Line at 1-800-558-5947:


#800 Update - week of March 6


On March 1st, the Securities and Exchange  Commission declared the Con Edison/NU
joint proxy statement  effective.  With this regulatory  approval,  we're moving
closer to  combining  our  strengths  with Con  Edison and  becoming  one of the
largest  electric  distribution  utilities  in the United  States  with over 6.4
million electric and gas customers.

Our next step involves shareholder approval.  Every proxy card must be voted for
your shares to be represented.  Not voting is counted as a no vote, so please be
sure to vote every proxy you  receive.  You will receive one each for the shares
you own in - the 401K, the employee stock purchase plan,  directly through NU or
through your private stockbroker. So vote each card you receive.

Currently, the Proxy statement,  including the proxy card, is in the mail to all
Con Edison and NU shareholders  and all shareholders can expect to receive their
copy this  week.  NU  shareholders  will be voting on two items - to allow NU to
amend its declaration of trust to allow a merger with another company. This item
must pass for the second to pass.  The second  voting item is the actual  merger
with Con  Edison.  Please be sure to return your proxy card prior to April 14th,
the date of both Con Edison's and NU's Special Shareholder Meetings.

The full Proxy statement was posted on NU's Intranet at 5 p.m., Monday March 6.

For NU employees,  your Leadership Team has received  verbatim excerpts from the
proxy  statement - along with six Briefing  Sheets - which highlight how closely
our business  interests,  strategy and customer  focus align with Con  Edison's.
Your leadership team and others are available to answer your questions.

NU  Shareholder  Services  is now  staffing  an 800 number for you to ensure you
receive all the  information  and answers you need.  Their number is  1-800-794-
1104.