Who has been appointed to Exelon's Board of Directors?

The Honorable Nelson A. Diaz has been elected to Exelon's Board of Directors. He fills the vacancy left by the resignation of Richard Glanton.

What are the key assumptions for Exelon's 2004 earnings guidance?

Key assumptions for 2004 earnings guidance include a nuclear capacity factor of 93.5%, volume retention at PECO of 87% (down from 91% in 2003), volume retention at ComEd of 75% (down from 80% in 2003), delivery growth of 1.4% at PECO and 1.2% at ComEd, and an effective income tax rate of 30.5% based on GAAP results.

What are Exelon's projected cash flow expectations for the coming years?

Exelon estimates net cash inflows from ongoing operations between $1.0 to $1.3 billion from 2004 through 2006. Additionally, the company anticipates significant cash inflows from strategic transitions, including approximately $180 million from exiting Boston Generating, $225 million from exiting Sithe Energies, $200 million from disposing of certain Exelon Enterprises businesses, and up to $120 million from synthetic fuel investments over the 2004-2006 period.

How will the investment in synthetic fuel producing facilities impact Exelon's earnings?

Exelon estimates that its investment in synthetic fuel producing facilities will have a favorable impact of $0.17 per average diluted common share on its 2004 earnings.

EXC 8-K SEC Disclosure — Feb 10, 2004

Summary

This 8-K filing by Exelon Corporation on February 10, 2004, primarily focuses on two key areas: board changes and financial guidance/cash flow projections. Notably, the company announced the appointment of the Honorable Nelson A. Diaz to its board of directors, filling a vacancy. This addition may be viewed positively by investors as it brings new perspectives to the board. The filing also provides detailed insights into Exelon's financial outlook for 2004 and beyond, stemming from its Fourth Quarter 2003 Earnings Conference Call. Key assumptions for 2004 earnings guidance are laid out, including projected nuclear capacity factors and volume retention rates for its subsidiaries PECO Energy Company and Commonwealth Edison Company, with some declines anticipated in volume retention. Furthermore, Exelon offers substantial projections for net cash inflows from ongoing operations and significant anticipated cash inflows from strategic transitions, including divestitures of ownership interests and certain business segments, along with existing investments in synthetic fuel facilities over the next several years. The impact of synthetic fuel investments on 2004 earnings per share is also quantified.

Key Highlights

1Honorable Nelson A. Diaz elected to Exelon's Board of Directors.
2Board changes reflect a transition following the resignation of Richard Glanton.
3Exelon provided key assumptions for its 2004 earnings guidance, including specific nuclear capacity factors and volume retention rates for PECO and ComEd.
4Anticipates a decline in volume retention at both PECO (91% to 87%) and ComEd (80% to 75%) for 2004.
5Projected net cash inflows from ongoing operations between $1.0 to $1.3 billion for 2004-2006.
6Significant cash inflows are expected from strategic transitions, including divestitures of Boston Generating, Sithe Energies, and certain Exelon Enterprises businesses, as well as synthetic fuel investments, totaling over $600 million anticipated over the next three years.
7Exelon estimates its synthetic fuel producing facilities investment will positively impact 2004 earnings per share by $0.17.

EXELON CORP 8-K Report (Feb 10, 2004)

Summary

Key Highlights

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