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BG&E REPORTS EARNINGS FOR THE FOUR MONTHS ENDED APRIL 30, 1993

 BALTIMORE, May 21 /PRNewswire/ -- Baltimore Gas and Electric Company (NYSE: BGE) today reported common stock earnings of $53,652,000 for the four months ended April 30, 1993, equivalent to $.37 per common share.
 This compares with earnings of $49,562,000 or $.38 per share for the same period last year. Earnings per share for the company's utility operations and for its diversified activities were as follows:
 Four Months Ended April 30 1993 1992
 Utility Operations $.36 $.34
 Diversified Activities .01 .04
 Total $.37 $.38
 Edward A. Crooke, president and chief operating officer, said, "The increase in utility earnings through the first four months of 1993 primarily reflects higher electric and gas sales stemming from colder winter weather as compared with the same period last year."
 For the four months ended April 30, 1993, sales of electricity and gas increased 3.7 percent and 1.1 percent, respectively, from the comparable period last year.
 Both electric and gas sales reflect the impact of colder winter weather through April 1993 as compared to the same period in 1992 and an increase in the total number of electric and gas customers. Electric sales to residential customers increased 5.4 percent, while commercial and industrial electric sales increased 2.6 percent. Gas sales increased 6.8 percent in the residential sector but decreased 2.8 percent in the commercial and industrial sector, due to a reduction in the volume of steel processed by Bethlehem Steel during a planned maintenance outage, and lower utilization of our delivery gas service.
 Earnings from diversified business activities primarily represent the results of Constellation Holdings, Inc. and its subsidiaries. Bruce M. Ambler, President - Constellation Holdings, noted, "Constellation's earnings for the four months ended April 30, 1993, were lower than the prior year primarily due to a one-time gain in March of 1992 associated with the sale of a portion of our ACE power project located in Trona, California."
 BALTIMORE GAS AND ELECTRIC COMPANY AND SUBSIDIARIES
 Consolidated Financial Information
 (In Thousands, Except Per Share Amounts)
 Four Months Ended April 30 1993 1992
 Revenues:
 Electric $603,926 $620,268
 Gas 213,279 180,923
 Diversified Activities 35,382 39,804
 Total 852,587 840,995
 Net Income 67,679 63,660
 Earnings Applicable to Common Stock 53,652 49,562
 Average Common Shares Outstanding 144,298 131,312
 Earnings Per Share of Common Stock:
 Utility Operations $.36 $.34
 Diversified Activities .01 .04
 Total .37 .38
 -0- 5/21/93
 /CONTACT: Arthur J. Slusark of Baltimore Gas and Electric, 410-234-7433/
 (BGE)


CO: Baltimore Gas and Electric Company ST: Maryland IN: UTI SU: ERN

MJ -- PH022 -- 1259 05/21/93 14:30 EDT
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Publication:PR Newswire
Date:May 21, 1993
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