Exelon names senior leadership team that will report to president, CEO Christopher M. Crane following its acquisition of Constellation Energy

Rachel Carter

CHICAGO & BALTIMORE , September 9, 2011 (press release) – Exelon (NYSE:EXC - News) today announced the senior executives that will be reporting directly to President and CEO Christopher M. Crane following completion of the Exelon-Constellation merger, anticipated in early 2012.

“I’m pleased to announce a senior leadership team of very qualified individuals who are the best in the energy business. In the coming months, as we continue to work toward the successful completion of Exelon’s merger with Constellation and create the nation’s leading competitive energy provider, this team will be integrally involved with the integration planning process and in helping shape the ultimate design of the new company,” said Crane.

Additional members of his Executive Committee and other senior leadership positions are expected to be identified by the end of 2011.

Upon completion of the merger:

Denis P. O’Brien, currently executive vice president of Exelon and president and CEO of PECO, will become senior executive vice president of Exelon Corporation and CEO of Exelon Utilities, with responsibility for sharing best practices and providing oversight to the combined company’s utility businesses. Reporting to O’Brien will be the three utility senior executives: Craig Adams, currently senior vice president and COO of PECO, who will become CEO of that business; Ken DeFontes, CEO of BGE; and Anne Pramaggiore, currently president and COO of ComEd, who will become CEO of that business. As announced previously, Frank M. Clark, currently chairman and CEO of ComEd, plans to retire upon closing of the merger.

William A. Von Hoene, Jr., currently executive vice president, Finance & Legal, will become senior executive vice president and chief strategy officer for the combined company, with responsibility for corporate development, corporate strategy, legal, regulatory, government affairs, investments and communications.

Ruth Ann M. Gillis will remain executive vice president, Exelon Corporation, president of the Exelon Business Services Company and chief administrative and diversity officer for the combined company. Gillis will continue to lead the combined company’s commercial operations, human resources, information technology and supply practice areas.

Matthew F. Hilzinger, currently senior vice president and CFO for Exelon, will become executive vice president and chief integration officer for Exelon Corporation. Hilzinger will be the lead executive for all integration activities following the closing of the Exelon-Constellation merger.

Jonathan W. “Jack” Thayer, currently chief financial officer for Constellation Energy, will become executive vice president and CFO of the combined company, with responsibility for Exelon’s accounting, risk, financial planning & analysis, tax, treasury, investor relations and audit functions.

Crane will retain his title as president of Exelon Generation. Reporting to him in that organization will be the following leaders:

Kenneth W. Cornew, currently senior vice president of Exelon and president of Exelon Power Team, will become executive vice president and chief commercial officer of Exelon and president and CEO of Constellation upon the closing of the Exelon-Constellation merger, leading the competitive retail and commodities businesses. Kathleen W. Hyle, senior vice president of Constellation Energy, will continue to oversee the company’s commercial businesses through the closing of the merger and will work closely with Cornew on integration activities. Hyle is in discussions about a potential senior role within Exelon following the transaction.

Charles R. “Chip” Pardee, currently COO of Exelon Generation, will retain that title, leading the operations of the Exelon Nuclear and Exelon Power business units. Following the merger, Constellation’s non-nuclear generating units will become part of Exelon Power.

Full biographical information on Crane, O’Brien, Pramaggiore, Von Hoene, Gillis, Hilzinger, Cornew and Pardee is available on Exelon’s corporate website (www.exeloncorp.com). Thayer’s and DeFontes’ bios are available at Constellation’s website (www.constellation.com).

About Exelon Corporation

Exelon Corporation is one of the nation’s largest electric utilities with more than $18 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 5.4 million customers in northern Illinois and southeastern Pennsylvania and natural gas to approximately 490,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC. Learn more online: www.exeloncorp.com.

About Constellation Energy

Constellation Energy (www.constellation.com) (NYSE:CEG - News) is a leading competitive supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. It owns a diversified fleet of generating units, totaling approximately 12,000 megawatts of generating capacity, and is a leading advocate for clean, environmentally sustainable energy sources, such as solar power and nuclear energy. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. A FORTUNE 500 company headquartered in Baltimore, Constellation Energy had revenues of $14.3 billion in 2010.

For the latest information about the Exelon-Constellation merger, visit the merger website: www.exelonconstellationmerger.com

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