Paul Hastings Advises Con Edison in $1.477 Billion Sale of Generation Projects to North American Energy Alliance

December 11, 2007

Paul Hastings Advises Con Edison in $1.477 Billion Sale of Generation Projects to North American Energy Alliance

New York, NY (December 11, 2007) Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, announced today that the firm advised Consolidated Edison Development, a wholly-owned subsidiary of Consolidated Edison, Inc. (Con Edison), in its agreement to sell 1,706 megawatts of generation projects to North American Energy Alliance, LLC. The transaction, which is scheduled to be completed in the first half of 2008, is valued at approximately $1.477 billion.

Partners John Hawkins and Dino Barajas led the Paul Hastings team, which included Jack Palma, Charles Patrizia, Bill DeGrandis, Thomas Mounteer, Leslie Abbott, David Marshall, Todd Siegel and Farrah Short.

About Paul Hastings Global Projects Group: The Paul Hastings Global Projects Group is internationally recognized for the breadth and depth of its project finance and development capabilities. With more than 25 years of experience, Paul Hastings has one of the most experienced teams of project and energy lawyers in the world. In the last few years, the Global Projects Group has represented clients in more than $40 billion of project transactions globally.

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,200 attorneys in 17 offices. The firm serves a diverse client base including many of the leading global financial institutions and Fortune 500 companies and offers deep capabilities in capital markets, finance and restructuring, intellectual property, international arbitration and dispute resolution, investment management, labor and employment, mergers and acquisitions, private equity, product liability, project finance, real estate, securities litigation and tax advisory services. For additional information, please visit our website at www.paulhastings.com.