BGE Announces Partial Call of Remarketed Floating Rate Series Due Sept. 1, 2006 First Refunding Mortgage Bonds in Connection with Annual Sinking Fund

BALTIMORE, July 25 /PRNewswire-FirstCall/ -- Baltimore Gas and Electric Company (BGE), a subsidiary of Constellation Energy , today announced a partial call of $1,886,000 of the principal amount of its Remarketed Floating Rate Series due Sept. 1, 2006 first refunding mortgage bonds in connection with its annual sinking fund.

The redemption will be made by Deutsche Bank Trust Company Americas, formerly Bankers Trust Company, as trustee pursuant to the sinking fund provisions of BGE's mortgage. Bonds to be called were randomly selected by lot by the trustee. Bonds called for the sinking fund will be redeemed in whole or in part on Aug. 26, 2005, at the sinking fund call price of 100 percent of the principal amount, plus accrued interest from June 1, 2005 to, but not including, Aug. 26, 2005.

A notice of redemption will be mailed no later than July 25, 2005, to holders whose bonds have been selected for sinking fund redemption.

The transfer books for the called bonds will not be closed prior to the redemption date, but will be closed permanently at the close of business on Aug. 25, 2005.

Bonds may be presented by mail to DB Services Tennessee, Inc., Corporate Trust & Agency Services, Securities Payment Unit, P.O. Box 291207, Nashville, TN 37229-1207 or by overnight courier to DB Services Tennessee, Inc., Corporate Trust & Agency Services, Attn: Securities Payment Unit, 648 Grassmere Park Road, Nashville, TN 37211. For information, call (800) 735-7777.

BGE is a member of Constellation Energy , a FORTUNE 200 company based in Baltimore. Constellation Energy 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 also 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.