<PAGE>
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
================================================================================
1. Name and Address of Reporting Person*
Hurst, Robert J.
--------------------------------------------------------------------------------
(Last) (First) (Middle)
c/o Goldman, Sachs & Co.
85 Broad Street
--------------------------------------------------------------------------------
(Street)
New York, New York 10004
--------------------------------------------------------------------------------
(City) (State) (Zip)
================================================================================
2. Date of Event Requiring Statement (Month/Day/Year)
October 20, 2000
================================================================================
3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
================================================================================
4. Issuer Name and Ticker or Trading Symbol
Constellation Energy Group, Inc.
(CEG)
================================================================================
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ X ] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
--------------------------------------------------------------------
================================================================================
6. If Amendment, Date of Original (Month/Year)
================================================================================
7. Individual or Joint/Group Filing (Check applicable line)
[ X ] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
================================================================================
<PAGE>
<TABLE>
<CAPTION>
====================================================================================================================================
Table I -- Non-Derivative Securities Beneficially Owned |
====================================================================================================================================
| | | |
| | | |
| | 3. Ownership Form: | |
| 2. Amount of Securities | Direct (D) or | |
1. Title of Security | Beneficially Owned | Indirect (I) | 4. Nature of Indirect Beneficial Ownership |
(Instr. 4) | (Instr. 4) | (Instr. 5) | (Instr.5) |
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
| | | |
Common Stock | 67,493 | I | 01,02 |
------------------------------------------------------------------------------------------------------------------------------------
| | | |
Common Stock | (14,561) | I | 01,02 |
-----------------------------------------------------------------------------------------------------------------------------------|
| | | |
Common Stock | 16,549 | I | 01,03 |
====================================================================================================================================
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one Reporting Person, see Instruction
5(b)(v).
<PAGE>
FORM 3 (continued)
<TABLE>
<CAPTION>
====================================================================================================================================
Table II -- Derivative Securities Beneficially Owned |
(e.g., puts, calls, warrants, options, convertible securities) |
====================================================================================================================================
| | | | | |
| | | | 5. Owner- | |
| | 3. Title and Amount of Securities | | ship | |
| | Underlying Derivative Security | | Form of | |
|2. Date Exercisable | (Instr. 4) | | Derivative | |
| and Expiration Date | --------------------------------- | 4. Conver- | Security: | |
| (Month/Day/Year) | | Amount | sion or | Direct |6.Nature of |
|---------------------- | | or | Exercise | (D) or | Indirect |
|Date |Expira- | | Number | Price of | Indirect | Beneficial|
1. Title of Derivative |Exer- |tion | | of | Derivative| (I) | Ownership |
Security (Instr. 4) |cisable |Date | Title | Shares | Security | (Instr.5) | (Instr. 5)|
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | |
| | | | | | | |
------------------------------------------------------------------------------------------------------------------------------------
| | | | | | | |
| | | | | | | |
------------------------------------------------------------------------------------------------------------------------------------
| | | | | | | |
| | | | | | | |
====================================================================================================================================
</TABLE>
Explanation of Responses:
01: The Reporting Person is a managing director of Goldman, Sachs & Co.
("Goldman Sachs"). Goldman Sachs is an indirect wholly-owned subsidiary of The
Goldman Sachs Group, Inc. ("GS Group"). The Reporting Person disclaims
beneficial ownership of the securities reported herein except to the extent of
his pecuniary interest therein.
02: The securities reported herein may be deemed to be beneficially owned
directly by Goldman Sachs.
03: The securities reported herein may be deemed to be beneficially owned
directly by The Hull Group, L.L.C. ("Hull"). Hull is a wholly-owned subsidiary
of GS Group.
By: s/ Hans L. Reich October 30, 2000
--------------------------------------------- -----------------------
**Signature of Reporting Person Date
Attorney-in-fact
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedure.
Alternatively, this form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.
<PAGE>
Power of Attorney
-----------------
The undersigned does hereby appoint Hans L. Reich and Roger S. Begelman his
true and lawful attorneys, and each of them his true and lawful attorney, with
power to act without the other, and with full power of such substitution, to
execute for him and in his name any Initial Statement of Beneficial Ownership of
Securities on Form 3, any Statement of Changes in Beneficial Ownership on Form 4
and any Annual Statement of Changes in Beneficial Ownership on Form 5 which may
be required to be filed by him with the Securities and Exchange Commission and
any and all instruments necessary or incidental therewith, hereby granting unto
said attorneys and each of them full power and authority to do and perform in
the name and on behalf of the undersigned, and in any and all capacities, every
act and thing whatsoever required or necessary to be done in and about the
premises, as fully and to all intents and purposes as the undersigned might or
could do in person, hereby ratifying and approving the act of said attorneys and
each of them.
This power of attorney shall supercede any previous power of attorney
covering the same subject.
This power of attorney shall not be affected by the subsequent disability
or incompetence of the principal.
In witness thereof the undersigned hereunto set his hand this 6th day of
May 1998.
s/Robert J. Hurst
------------------