CEG Constellation Energy Grp. Common Stock

BALTIMORE, Jan. 30 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:CEG) today announced that its board of directors declared a quarterly dividend of 37.75 cents per share on the company's common stock, equivalent to $1.51 per share annually. This dividend declaration represents a 12.7 percent increase over the previous quarterly dividend rate in recognition of the company's strong performance in 2005 and future growth prospects. Prior to this increase, Constellation Energy paid quarterly dividends on its common stock at the rate of 33.5 cents per share, equivalent to the annual rate of $1.34 per share. The dividend is payable April 3, 2006, to shareholders of record at the close of business on March 10, 2006. In addition, Baltimore Gas and Electric Company (BGE) declared quarterly dividends at the specified rates for all its outstanding preference stock, payable April 3, 2006, to shareholders of record at the close of business on March 10, 2006. Constellation Energy (http://www.constellation.com/), a FORTUNE 200 company based in Baltimore, is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of more than 100 generating units located throughout the United States, totaling approximately 12,000 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. In 2004, the combined revenues of the integrated energy company totaled $12.5 billion. First Call Analyst: FCMN Contact: Angelique.l.rewers@constellation.com DATASOURCE: Constellation Energy CONTACT: Media Contacts: Robert L. Gould or Angelique Rewers, +1-410-234-7433; or Investor Contact: Kevin Hadlock, +1-410-783-3647, all of Constellation Energy Web site: http://www.constellation.com/ Company News On-Call: http://www.prnewswire.com/comp/084087.html

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