CEG Constellation Energy Grp. Common Stock

Constellation Energy Adopts Executive Stock Ownership Guidelines and Trading Plan Rules BALTIMORE, Nov. 19 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:CEG) today announced that it has adopted a policy permitting executives and directors of the company to adopt pre-arranged stock trading plans to sell a limited number of shares of Constellation Energy common stock in order to diversify their financial assets. Each of the trading plans must be reviewed and approved by the company's Trading Officer. In addition, Constellation Energy has adopted stock ownership guidelines for its directors and officers, which seek to align the interests of the company's executive officers and directors with the interests of shareholders. For executive officers, the stock ownership guidelines require each executive officer to acquire holdings of company common stock with a value equal to the following multiples of base salary: -- chief executive officer 7 times base salary -- executive vice presidents 5 times base salary -- senior vice presidents 3 times base salary For directors, the stock ownership guidelines require each director to acquire holdings of company common stock equal to five times the annual cash retainer payable to the director. All transactions under an approved pre-arranged stock trading plan adopted by any executive officer or director will be disclosed publicly through Form 4 filings with the Securities and Exchange Commission. Any stock trading plan will be established under Rule 10b5-1 of the Securities Exchange Act of 1934. Rule 10b5-1 plans permit individuals who are not in possession of material nonpublic information to establish pre-arranged plans to buy or sell company stock. These plans allow individuals to achieve prudent and gradual asset diversification over time. Constellation Energy, 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 or co-owns 107 generating units at 35 locations in 11 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: Rob Gould (Media), Constellation Energy, +1-410-234-7433 Web site: http://www.constellation.com/ Company News On-Call: http://www.prnewswire.com/comp/084087.html

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