Constellation NewEnergy Helps Lehman Brothers Star Property to Shine Brightly in Times Square.Energy Editors/Business Editors NEW YORK--(BUSINESS WIRE)--March 5, 2003 Constellation Energy Constellation Energy (NYSE: CEG), headquartered in Baltimore, Maryland, generates, trades, supplies, and distributes energy. The company operates over 35 power plants in 11 states (mainly Maryland, Pennsylvania, New York, West Virginia, and California) under its operating Group (NYSE NYSE See: New York Stock Exchange : CEG (Continuous Edge Graphics) A VGA RAMDAC chip from Edsun Labs that adds anti-aliasing on the fly. It can also calculate intermediate shades, thus providing thousands of colors on an 8-bit board that normally generates only 256 colors. ) today announced that Constellation NewEnergy has signed a contract for electricity supply with Lehman Brothers. Under this contract, Constellation NewEnergy will supply electricity to Lehman Brothers' global headquarters and data center in midtown Manhattan. This new one million square foot, 32-story tower in Times Square was purchased by Lehman Brothers in October 2001. Brian Hayduk, Vice President of Constellation NewEnergy said, "Our contract will enable Lehman Brothers to budget and forecast their energy costs over the term of our agreement. Right now, electricity market conditions in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of are volatile. We have found that many customers can't tolerate significant variations in electricity prices. That's why we offer a variety of contracts that are tailored to the risk tolerance Risk Tolerance The degree of uncertainty that an investor can handle in regards to a negative change in the value of their portfolio. Notes: An investor's risk tolerance varies according to age, income requirements, financial goals, etc. of our customers. I'm confident that our contract with Lehman Brothers will help them predict their monthly energy expenses and reduce their exposure to market volatility. I am also thrilled to support and work with businesses like Lehman Brothers that continue to make New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. their home." Lehman Brothers, an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high-end net worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, and private equity, and private client services. The firm is headquartered in New York, London and Tokyo and operates in a network of offices around the world. For further information about Lehman Brothers' services, products and recruitment opportunities, visit its web site at www.lehman.com. About Constellation NewEnergy A leading national competitive energy supplier, Constellation NewEnergy Inc. provides customized solutions and comprehensive energy services to commercial and industrial electricity customers in Maine, Massachusetts, New York, New Jersey, Pennsylvania, Ohio, Illinois, Texas, Delaware, Maryland, Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. , New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). , California, and Alberta, Canada. A subsidiary of Constellation Energy Group, the company is committed to providing customized energy-related products and services with predictability and flexibility in the competitive electricity marketplace. More information about Constellation NewEnergy is available at www.newenergy.com. About Constellation Energy Group A Fortune 500 company based in Baltimore, Constellation Energy Group owns energy-related businesses, including a merchant power business that serves electrical load for wholesale and commercial and industrial customers in North America, and the Baltimore Gas and Electric Company (BGE BGE Baltimore Gas and Electric BGE Big Green Egg (grill) BGE Beyond Good and Evil (Nietzsche) BGE Busch Gardens Europe BGE Branch If Greater or Equal BGE Bacterial Growth Efficiency ), a regulated energy delivery company which serves more than 1.1 million electric customers and more than 600,000 natural gas customers in central Maryland. At year-end 2002, Constellation Energy Group reported revenues of $4.7 billion and assets of $14.1 billion. More information about Constellation Energy Group is available at www.constellation.com. |
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