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Unicom and PECO Energy complete merger

CHICAGO and PHILADELPHIA, Oct. 20, 2000 (PRNewswire) — Unicom Corporation (NYSE: UCM) and PECO Energy Company today announced that they have completed their merger and on October 23, 2000 will begin trading as Exelon Corporation (NYSE: EXC) on the New York Stock Exchange (NYSE) under the ticker symbol EXC. Exelon will also be listed on the Chicago and Philadelphia stock exchanges.

The merger of Unicom and PECO Energy creates Exelon, one of the nation’s largest electric utilities, with more than $12 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 and gas to approximately five million customers in Illinois and Pennsylvania. The company also has holdings in such competitive businesses as energy, infrastructure services, energy services and telecommunications. Exelon is headquartered in Chicago.

Unicom’s last quarterly dividend of 40 cents per share is payable November 1, 2000, to Unicom shareholders of record at 5:00 p.m. on October 6, 2000.

In addition, with the completion of the merger on October 20, 2000, Unicom shareholders of record at the close of business on October 19, 2000 will receive a pro-rata dividend of $0.0923077 per share, payable within 30 days after the merger closing. This pro-rata dividend is equivalent to $0.40 per share for the full quarter, and was calculated at a per-day rate of $0.004395604 per share over the 21-day period from September 29, 2000 through October 19, 2000.

With the completion of the merger on October 20, 2000, PECO Energy shareholders of record at the close of business on October 19, 2000 will receive a pro-rata dividend of $0.1582279 per share, payable December 20, 2000. This pro-rata dividend is equivalent to $0.25 per share for the full quarter, and was calculated at a per-day rate of $0.003164557 per share over the 50-day period from August 31, 2000 through October 19, 2000.