BALTIMORE, MD -- (Marketwire) -- 11/04/08 -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Maryland on behalf of purchasers of the common stock of Constellation Energy Group, Inc. ("Constellation Energy" or the "Company") (NYSE: CEG) during the period between January 30, 2008 and September 16, 2008, inclusive (the "Class Period"). The Maryland action is in addition to a class action lawsuit pending in the United States District Court for the Southern District of New York on behalf of purchasers of Constellation Energy Group, Inc. ("Constellation" or the "Company") (NYSE: CEG) publicly traded securities during the period between January 30, 2008 and September 16, 2008, inclusive (the "Class Period"), including the Series A Junior Subordinated Debentures (the "Preferred Securities") (NYSE: CEG-PA), pursuant and/or traceable to the Company's Registration Statement and Prospectus (collectively, the "Registration Statement") issued in connection with the Company's June 27, 2008 Preferred Securities offering.

The complaint charges Constellation Energy and certain of its officers and directors with violations under the Securities Exchange Act of 1934. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than November 21, 2008 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You may contact Brower Piven (through hoffman@browerpiven.com or 410/332-0030) to answer any questions you may have in that regard.

According to the complaint, during the Class Period, Constellation Energy issued materially false and misleading statements regarding the Company's operations and financial performance. Among other things, Defendants failed to disclose that the Company's financial results were inflated by questionable accounting practices. In addition, the Company concealed the extent of its credit exposure to failing trading partners, particularly Lehman Brothers Holding Inc., which would affect the Company's ability to engage in energy-related trades. As a result of defendants' false statements and omissions during the Class Period, Constellation Energy common shares traded at artificially inflated prices.

In August 2008, share prices of Constellation Energy softened as analysts began to question certain aspects of the Company's accounting, particularly the Company's questionable characterizations of depreciation, cash flow and mark-to-market adjustments. Shortly thereafter, on September 15, 2008, Lehman Brothers, a key trading partner of Constellation Energy, filed for Chapter 11 bankruptcy protection. On that day, investors were stunned as Constellation's business exposure to the Lehman bankruptcy was revealed. By the close of the Class Period, the Company's shares traded at $24.77 per share, a 75% loss from the Class Period high.

If you have suffered a net loss for all transactions in Constellation Energy common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-332-0030, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.