Constellation Energy Group 2001 Annual Report

Board of Directors | Executive Officers | Shareholder Information

Shareholder Information

Common Stock Dividends and Price Ranges

2001				2000
	Dividend Declared	Price			Dividend Declared	Price
	Dividend Declared	High	Low		Dividend Declared	High	Low
First Quarter	$0.12	$44.65	34.69	First Quarter	$0.42	$33.81	$27.06
Second Quarter	0.12	50.14	40.10	Second Quarter	0.42	35.69	31.25
Third Quarter	0.12	43.80	22.85	Third Quarter	0.42	52.06	32.06
Fourth Quarter	0.12	28.21	20.90	Fourth Quarter	0.42	50.50	37.88
Total	$0.48			Total	$1.68

Dividend Policy
The common stock is entitled to dividends when and as declared by the Board of Directors. There are no limitations in any indenture or other agreements on payment of dividends.

Dividends have been paid on the common stock continuously since 1910. Future dividends depend upon future earnings, the financial condition of the company, and other factors.

Dividend Increase
On January 30, 2002, the Board of Directors announced it will increase the dividend to 96 cents per share (24 cents quarterly). The company had been paying an annual rate of 48 cents per share (12 cents quarterly), which was established April 3, 2001.

Common Stock Dividend Dates
Record dates are normally on the 10th of March, June, September, and December. Quarterly dividends are customarily mailed to each shareholder on or about the 1st of April, July, October, and January.

Stock Trading
Constellation Energy Group’s common stock, which is traded under the ticker symbol CEG, is listed on the New York, Chicago, and Pacific stock exchanges, and has unlisted trading privileges on the Boston, Cincinnati, and Philadelphia exchanges. As of December 31, 2001, there were 54,285 common shareholders of record.

Annual Meeting
The annual meeting of shareholders will be held at
10 a.m. on Friday, May 24, 2002, in the 2nd Floor Conference Room of the Gas and Electric Building, located at 39 W. Lexington Street, Baltimore, Maryland 21201.

Form 10-K
Upon written request, the company will furnish, without charge, a copy of its and BGE’s Annual Report on Form 10-K, including financial statements. Requests should be addressed to Constellation Energy Group, Inc., Shareholder Services, P.O. Box 1642, Baltimore, MD 21203-1642.

Executive Offices
250 W. Pratt Street
Baltimore, Maryland 21201
Mail: P.O. Box 1475, Baltimore, Maryland 21203-1475

Stock Transfer Agents and Registrars
Transfer Agent and Registrar:
Constellation Energy Group, Inc.
Baltimore, Maryland

Co-Transfer Agent and Registrar:
     Continental Stock Transfer and Trust Company
     8th Floor
     17 Battery Place South
     New York, NY 10004

By telephone (Monday–Friday, 8 a.m. – 4:45 p.m. EST):
     Baltimore Metropolitan Area 410-783-5920
     Within Maryland 1-800-492-2861
     Outside Maryland 1-800-258-0499

By U.S. mail:
     Constellation Energy Group, Inc.
     Shareholder Services
     P.O. Box 1642
     Baltimore, MD 21203-1642

In person or by overnight delivery:
     Constellation Energy Group, Inc.
     Shareholder Services, Room 800
     39 W. Lexington Street
     Baltimore, MD 21201