Exelon Receives Notification of Unsolicited Mini-tender Offer by TRC Capital Corporation

  Exelon Receives Notification of Unsolicited Mini-tender Offer by TRC Capital
  Corporation

Business Wire

CHICAGO -- May 23, 2012

Exelon Corporation (NYSE: EXC) has received notification of an unsolicited
mini-tender offer by TRC Capital Corporation (“TRC”) to purchase up to 3
million shares of Exelon common stock, or approximately 0.35 percent of the
company’s outstanding common stock, at a price of $36.55 per share. The offer
price is approximately 4.42 percent below the closing price on May 17, 2012,
the approximate date of commencement of the offer.

Exelon does not endorse TRC’s mini-tender offer and recommends that
shareholders do not tender their shares. Exelon is not associated with TRC or
this unsolicited offer.

TRC has made similar, unsolicited mini-tender offers for shares of other
publicly-traded companies. Mini-tender offers are designed to seek to acquire
less than 5 percent of a company’s outstanding shares, thereby avoiding many
disclosure and procedural requirements of the Securities and Exchange
Commission (SEC). As a result, mini-tender offers do not provide investors
with the same level of protections as provided by larger tender offers under
United States securities laws.

The SEC has cautioned investors about mini-tender offers, noting that “[s]ome
bidders make mini-tender offers at below-market prices, hoping that they will
catch investors off guard if the investors do not compare the offer price to
the current market price.” The SEC’s Investor Tips regarding mini-tender
offers may be found on the SEC’s website at
http://www.sec.gov/investor/pubs/minitend.htm.

Exelon encourages brokers and dealers, as well as other market participants,
to review the SEC’s letter regarding broker-dealer mini-tender offer
dissemination and disclosure at
http://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.

Exelon requests that a copy of this press release be included with all
distributions of materials relating to TRC’s offer.

Exelon Corporation (NYSE:EXC) is the nation’s leading competitive energy
provider, with approximately $33 billion in annual revenues. Headquartered in
Chicago, Exelon has operations and business activities in 47 states, the
District of Columbia and Canada. Exelon is the largest competitive U.S. power
generator, with approximately 35,000 megawatts of owned capacity comprising
one of the nation’s cleanest and lowest-cost power generation fleets. The
company’s Constellation business unit provides energy products and services to
approximately 100,000 business and public sector customers and approximately 1
million residential customers. Exelon’s utilities deliver electricity and
natural gas to more than 6.6 million customers in central Maryland (BGE),
northern Illinois (ComEd) and southeastern Pennsylvania (PECO). Learn more at:
www.exeloncorp.com.

Contact:

Exelon Corporate Communications
Judith Rader
312-394-7417
or
Exelon Investor Relations
JaCee Burnes
312-394-2948