UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549
                                    FORM 8-K



                                 CURRENT REPORT


                Pursuant to Section 13 or 15(d) of the Securities
                              Exchange Act of 1934



                                  June 18, 2003

                                (Date of earliest
                                 event reported)

Commission File Name of Registrant; State of Incorporation; Address of IRS Employer Number Principal Executive Offices; and Telephone Number Identification Number - --------------------- ---------------------------------------------------------- ------------------------ 1-16169 EXELON CORPORATION 23-2990190 (a Pennsylvania corporation) 10 South Dearborn Street - 37th Floor P.O. Box 805379 Chicago, Illinois 60680-5379 (312) 394-7398
Item 5. Other Events. On June 18, 2003, Exelon Corporation issued a news release announcing an agreement to sell the electric construction and services, underground and telecom businesses of its subsidiary, InfraSource Inc., to GFI Energy Ventures LLC and Oaktree Capital Management LLC. The news release is attached to this report as Exhibit 99. Except for the historical information contained herein, certain of the matters discussed in this Report are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from the forward-looking statements made by Exelon Corporation, Commonwealth Edison Company, PECO Energy Company and Exelon Generation Company, LLC (Registrants) include those discussed herein, as well as those discussed in (a) the Registrants' 2002 Annual Report on Form 10-K - ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations--Business Outlook and the Challenges in Managing Our Business for Exelon, ComEd, PECO and Generation, (b) the Registrants' 2002 Annual Report on Form 10-K - ITEM 8. Financial Statements and Supplementary Data: Exelon - Note 19, ComEd - Note 16, PECO - Note 18 and Generation - Note 13 and (c) other factors discussed in filings with the United States Securities and Exchange Commission (SEC) by the Registrants. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this Report. None of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this Report. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EXELON CORPORATION /S/ Robert S. Shapard -------------------------------- Robert S. Shapard Executive Vice President and Chief Financial Officer June 18, 2003
Exhibit 99

                                                                   [EXELON LOGO]


News Release



From:      Exelon Corporation                            For Immediate Release
           Corporate Communications                      ---------------------
           P.O. Box 805379
           Chicago, IL  60680-5379

Contact:   Linda Marsicano, 312.394.3099
           Linda.marsicano@exeloncorp.com

   Exelon Corporation Announces Agreement to Sell Its Subsidiary, InfraSource,
          to GFI Energy Ventures LLC and Oaktree Capital Management LLC

CHICAGO  (June 18, 2003) - Exelon  Corporation,  parent  company of  InfraSource
Incorporated,  announced today that it has entered into an agreement to sell the
electric  construction  and  services,  underground  and telecom  businesses  of
InfraSource,  Incorporated  to GFI  Energy  Ventures  LLC  and  Oaktree  Capital
Management LLC.  InfraSource  (formerly  Exelon  Infrastructure  Services) is an
industry leader providing transmission and distribution  infrastructure services
to the electric, gas, telecommunications and cable utilities, in addition to the
industrial market.

The  sale  price  is  expected  to be $250  million  of cash  and a $30  million
subordinated  note  maturing with interest in 2011.  The  InfraSource  companies
being divested are MJ Electric, InfraSource Underground, Electric Services Inc.,
Dashiell and Dacon, Blair Park Services/Sunesys and RJE Telecom.

"This  divestiture  supports  Exelon's  corporate  strategy to focus on our core
integrated  utility  businesses  and is another step forward in The Exelon Way,"
said George  Gilmore,  Senior Vice  President of Exelon and  President of Exelon
Enterprises.  "Exelon also believes this  transaction is in the best interest of
InfraSource and its  shareholders.  GFI and Oaktree's  knowledge of the industry
and enthusiasm for InfraSource will provide  InfraSource with the support needed
to achieve its growth objective."

GFI  Energy   Ventures  LLC  has  been  an  equity   investor  in   established,
industry-leading  companies  serving  the  energy  market  since  1995.  GFI has
originated  over thirty  investments  in  companies  that  provide the  systems,
software,  equipment  and services  needed by  participants  in the  competitive
energy market.  GFI is the co-general  partner with Oaktree Capital  Management,
LLC of the $454 million OCM/GFI Power Opportunities Fund, L.P. For more detailed
information, visit GFI's web site at www.gfienergy.com.

Oaktree Capital Management,  LLC is a Los Angeles-based  alternative  investment
management and buyout firm,  which manages over $26 billion for institutions and
wealthy  individuals.  Oaktree  will invest in  InfraSource  through its private
equity group, which manages approximately $2.5 billion.





Merrill Lynch & Co. acted as financial advisor to InfraSource in connection with
this transaction and rendered a fairness opinion to its Board of Directors. Debt
financing for the transaction will be provided by Barclays Capital.

The  agreement is subject to customary  closing  conditions,  and is expected to
close in the  third or  fourth  quarter  of 2003  depending  upon the  timing of
regulatory approvals.



                                       ###

     InfraSource is a leading national infrastructure services provider. The
        company's services include design, engineering, construction and
     maintenance services to the electric power, gas and telecommunications
      industries. The company has annual revenues in excess of $500 million
                        and operations in over 30 states.

                                       ###

    Exelon Corporation is one of the nation's largest electric utilities with
      approximately 5 million customers and more than $15 billion in annual
      revenues. The company has one of the industry's largest portfolios of
  electricity generation capacity, with a nationwide reach and strong positions
       in the Midwest and Mid-Atlantic. Exelon distributes electricity to
 approximately 5 million customers in Illinois and Pennsylvania and gas to more
    than 440,000 customers in the Philadelphia area. Exelon is headquartered
             in Chicago and trades on the NYSE under the ticker EXC.