Constellation Energy Names Thomas V. Brooks Chairman of Constellation Commodities Group and Vice Chairman of Constellation Energy

BALTIMORE, Aug. 25 /PRNewswire-FirstCall/ -- Constellation Energy today announced that Thomas V. Brooks will become chairman of its Commodities Group and vice chairman of Constellation Energy, effective immediately. In his new capacities, Brooks also will serve as chairman of Constellation Energy's risk management committee and will continue to serve as a member of the merchant mergers, acquisitions and special transactions committee.

"Tom's leadership of the Commodities Group in the four years since the end of our relationship with Goldman Sachs has been exceptional. Tom and his team have transformed the Commodities Group into a broad-based commodity services provider, the market leader in North American wholesale power markets and a player of growing significance serving coal and natural gas customers, well- positioned for continued growth," said Mayo A. Shattuck III, chairman, president and chief executive officer of Constellation Energy.

George E. Persky and Felix J. Dawson have been named as co-presidents and co-chief executive officers of Constellation Commodities Group, effective immediately. Felix J. Dawson, currently co-chief commercial officer of Constellation Commodities Group, joined Constellation Commodities Group at its inception in 1997 as part of the Goldman Sachs team which helped form the business in partnership with Constellation Energy. Dawson has held numerous leadership positions in Constellation Commodities Group's origination and portfolio management areas. Dawson earned his bachelor's and master's degrees from Rice University.

George E. Persky, also co-chief commercial officer, joined Constellation Commodities Group in 1999, also as a member of the Goldman Sachs team. He has held a number of leadership positions, principally in the portfolio management and trading areas. Persky earned his bachelor's and master's degrees from the Wharton School of the University of Pennsylvania.

"Felix and George have been key drivers behind Constellation Energy's ability to build a leading physical commodity business, which is number one in wholesale power markets in North America as well as the risk management approach that has delivered consistent performance for the last 15 quarters," said Brooks.

"Over the last year, Tom has had to reduce his time commitment to address family issues. During this same timeframe, George and Felix have assumed greater management responsibility, jointly presiding over the Commodities Group's front office, leading significant growth in origination and portfolio management and trading results, as well as the development of our coal and natural gas businesses. These moves continue this evolution, with Tom continuing the shift to a concentrated focus on the big picture issues of merchant strategy, capital allocation and risk management. The success of Constellation Commodities Group has been forged by a management team which clearly possesses the best talent in the industry. Given their long and successful track record and the depth and experience of their team, I have complete confidence in Felix and George as they take on this expanded responsibility," said Shattuck.

Constellation Energy (http://www.constellation.com/), a FORTUNE 200 company based in Baltimore, 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 more than 100 generating units located throughout the United States, totaling approximately 12,000 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. In 2004, the combined revenues of the integrated energy company totaled $12.5 billion.