CEG Constellation Energy Grp. Common Stock

Constellation Energy (NYSE: CEG) today announced that its board of directors has declared a quarterly dividend of 47.75 cents per share on the company�s common stock, equivalent to $1.91 per share annually. The dividend is payable Jan. 2, 2009, to shareholders of record at the close of business on Dec. 10, 2008. In addition, Baltimore Gas and Electric Company (BGE) declared quarterly dividends at the specified rate for all of its outstanding preferred stock, payable Jan. 2, 2009, to shareholders of record at the close of business on Dec. 10, 2008. Constellation Energy (http://www.constellation.com), a FORTUNE 125 company with 2007 revenues of $21 billion, 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 83 generating units located throughout the United States, totaling approximately 9,000 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.