Constellation Energy Schedules Second Quarter Earnings Release and Conference Call for Friday, July 30, 2004 BALTIMORE, July 21 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:CEG) today announced that it will release its second quarter 2004 earnings report on Friday, July 30, 2004, and that a conference call to review these results has been scheduled for 8:30 a.m. (EDT) that day. To participate, analysts, investors, media and the public in the U.S. may dial (800) 862-9098 shortly before 8:30 a.m. The international phone number is (785) 424-1051. The conference password is Constellation. A replay of the call will be available for one week by calling (800) 753-4652 (U.S.) or (402) 220-4235 (international). A live audio webcast of the conference call, presentation slides and the earnings press release will be available at http://www.constellation.com/, on the Investor Relations home page. The call will also be recorded and archived on Constellation Energy's Web site. Constellation Energy (http://www.constellation.com/), a Fortune 500 company based in Baltimore, is the nation's leading competitive supplier of electricity to large commercial and industrial customers and one of the nation's largest wholesale power sellers. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns and operates a diversified fleet of 35 power plants in 12 states. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. In 2003, the combined revenues of the integrated energy company totaled $9.7 billion. DATASOURCE: Constellation Energy CONTACT: Robert L. Gould (Media), +1-410-234-7433; or Jack Thayer (Investors), +1-410-783-3647, both of Constellation Energy Web site: http://www.constellation.com/ Company News On-Call: http://www.prnewswire.com/comp/084087.html

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