Nuclear, Reactors

Kingsley to lead Exelon Generation as CEO; Skolds named Chief Nuclear Officer of Exelon Nuclear

CHICAGO, March 4, 2002 — Oliver D. Kingsley Jr., who engineered the turnaround of the ComEd nuclear fleet and then became leader of Exelon Nuclear, the nation’s largest and the world’s third largest commercial nuclear fleet, was appointed President and Chief Executive Officer of Exelon Generation, by Exelon President John W. Rowe.

John L. (Jack) Skolds, Chief Operating Officer of Exelon Nuclear and CEO of AmerGen Energy Company LLC, has been named to succeed Kingsley as President and Chief Nuclear Officer of Exelon Nuclear. Exelon Nuclear is a business unit of Exelon Generation.

In the past two years, the Exelon Nuclear fleet of 17 reactors at 10 sites has set numerous national records for safety and efficiency, including the most efficient refueling outages of both major reactor types. In 2001, Exelon Nuclear generating units recorded the four highest gross capacity factors in the U.S., four of the top six in the world and nine of the top 50 in the world. There are 104 operating nuclear units in the U.S. and 427 worldwide.

Also last year, Exelon Nuclear recorded a fleet average net capacity factor of 94.4 percent and reduced its production cost by 12 percent compared to 2000.

Exelon Nuclear operates the third largest commercial fleet in the world and its 17,000 megawatts represent nearly 20 percent of the U.S. nuclear generation capacity. Exelon Nuclear generating plants are in Illinois, Pennsylvania and New Jersey.

Before joining ComEd in November 1997, Kingsley served as chief nuclear officer of the Nuclear Generation Group at the Tennessee Valley Authority (TVA), which has five nuclear units at three sites. He is largely credited with the turnaround of the TVA nuclear program.

From 1985 to 1988, Kingsley was vice president, Nuclear Operations for Middle South Utilities. From 1971 to 1984 he held various positions in the nuclear area of the Southern Company. He served in the U.S. Navy Nuclear Submarine Force, and is a graduate of Auburn University where he received a Bachelor of Science degree with honors in engineering physics.

Skolds joined the company as Chief Operating Officer in August 2000, prior to the merger between Unicom and PECO that formed Exelon in October of that year.

Prior to joining Exelon, Skolds was President and Chief Operating Officer of South Carolina Electric and Gas, where he served in various nuclear management and executive roles. He graduated from the U.S. Naval Academy and received an MBA from the University of South Carolina.

The announcement follows Tuesday’s decision by Corbin A. McNeill Jr. to retire effective April 23.

Exelon Corp. 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.