First Wave of New Reactor License Applications for UniStar Sites Accepted and Docketed by Nuclear Regulatory Commission

UniStar Nuclear Energy, a strategic joint venture of Constellation Energy (NYSE:CEG) and EDF Group, today announced that the initial acceptance review phase is now complete for the first wave of UniStar’s proposed fleet of advanced nuclear power plants in the United States. The milestone was achieved with the U.S. Nuclear Regulatory Commission’s (NRC) recent announcement that it has accepted and docketed PPL’s combined license (COL) application for a U.S. Evolutionary Power Reactor (U.S. EPR) at PPL’s proposed Bell Bend site near Berwick, Pa.

PPL, a UniStar partner, submitted its application to the NRC on Oct. 10, 2008.

"Achieving this important regulatory milestone for all four projects was a primary goal for UniStar during 2008, and we congratulate PPL on its recent accomplishment,” said George Vanderheyden, president and chief executive officer of UniStar. "Having four of four projects under technical review by the NRC clearly demonstrates UniStar’s continued leadership and momentum as we work to develop the next generation of nuclear power plant technology to support our nation’s future energy needs and clean air objectives.”

In addition to UniStar’s significant regulatory progress in 2008, Vanderheyden noted that public support has been strong for the proposed UniStar projects, especially in states where the projects are in a more advanced phase.

"As I attended public meetings in Maryland and New York, I was impressed by the depth and breadth of public support for the new reactors,” said Vanderheyden. "We continue to hear from community leaders who are keenly aware of our excellent record related to safety and reliability, and welcome the economic and environmental benefits of these proposed nuclear plants.”

On Dec. 18, 2008, UniStar announced the NRC’s acceptance and docketing of its application for a proposed plant in Scriba, N.Y., adjacent to Constellation Energy’s Nine Mile Point Nuclear Station.

In 2007, UniStar submitted its first, or "reference” application, for a proposed reactor in Maryland. The three subsequent applications, including one by AmerenUE for a proposed U.S. EPR in Missouri, leveraged the experience gained by UniStar in preparing the Calvert Cliffs application. NRC review of the applications is expected to take 36 to 42 months from the time the applications were submitted.

UniStar and its partners have not made a final decision to proceed with any of the proposed reactors. UniStar noted a final decision will not be made about its proposed plants in Maryland and New York until the company’s expectations have been met regarding safety, cost, regulatory stability and bipartisan federal, state and local support.

AREVA’s U.S. EPR is an evolutionary, 1,600-megawatt design based on reactors currently operating in Europe. Each of the proposed plants would provide electricity to more than one million homes and is expected to create approximately 4,000 construction jobs and about 360 permanent jobs.

Nuclear power is considered an essential component of a diverse mix of energy sources for its ability to reliably generate baseload electricity – power that is constant 24 hours a day, seven days a week and is not affected by weather or climate.

About UniStar

UniStar Nuclear Energy, a strategic joint venture between Constellation Energy (NYSE:CEG) and EDF Group, is powering the nuclear renaissance in North America through industry leadership, disciplined business practices and effective risk-management. Based in Baltimore, Md., UniStar Nuclear Energy provides the licensing, construction and operating services needed to support the expansion of clean, safe and sustainable nuclear energy in the United States.

About Constellation Energy

Constellation Energy (www.constellation.com), a FORTUNE 125 company with 2007 revenues of $21 billion, 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 generating units located throughout the United States, totaling approximately 9,000 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.

About EDF Group

The EDF Group, one of the leaders in the energy market in Europe, is an integrated energy company active in all businesses: production, transport, distribution, energy selling and trading. The Group is the leading electricity producer in Europe. EDF's nuclear production capacity, the largest in the world, consists of 58 power plants on 19 sites. In France, it has mainly nuclear and hydroelectric power plants where 95% of the electricity output involves no CO₂ emissions. EDF's transport and distribution subsidiaries operate 1,246,000 km of low and medium voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in supplying energy and services to more than 38 million customers around the world, including more than 28 million in France. The Group generated consolidated sales of EUR 59.6 billion, (or $81.06 billion¹), in 2007, of which 44 percent originated in Europe excluding France. EDF is listed on the NYSE-Euronext Paris stock exchange as one of the largest market cap companies.

¹1EUR = 1,36 US$

About PPL

PPL Corporation, headquartered in Allentown, Pa., controls more than 11,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to about 4 million customers in Pennsylvania and the United Kingdom.

About AREVA

As the leading U.S. nuclear vendor and a key player in the electricity transmission and distribution sector, AREVA Inc.’s 5,300 U.S. energy employees are committed to serving the nation and paving the way for the future of the electricity market. With 45 locations across the nation and nearly $2 billion in energy revenues in 2007, AREVA Inc., through its subsidiaries, combines U.S. leadership, access to worldwide expertise and a proven track record of performance. In the U.S. and in more than 100 countries around the world, AREVA is engaged in the 21st century’s greatest challenges: making energy available to all, protecting the planet, and acting responsibly toward future generations. AREVA Inc. is headquartered in Bethesda, Md.