Not exactly. The Common Lisp condition system is usable for handling error situations, but it's usable for much more as well; the act of signaling a condition does not immediately unwind the stack, like throwing an exception does, and the restart system allows for actively choosing which pieces of dynamically provided code should be run instead of just blindly executing them in order.

This allows for some extra flexibility with regard to how to handle errors, and with regard to how conditions may be used without any unwinding whatsoever.

(Thanks for the props!)