For Immediate Release

May 10, 1999

Washington, D.C. -- W. A. Chester, L.L.C., a unit of Potomac Electric Power Co. (POM: NYSE), announced today award of a third contract by Commonwealth Edison Co. to install an additional 25 miles of high-voltage underground electric cable in the Chicago area.

W. A. Chester has been the installation contractor since 1997 when ComEd began replacing a major portion of its underground electric cable system.

When work is completed on their multimillion-dollar contracts, W.A. Chester will have installed nearly 80 miles of new, single conductor 138kV solid dielectric cable furnished by NK Cables USA, Inc.

"We are extremely pleased that NK and ComEd have recognized W. A. Chester's performance and commitment on the first two circuits," said Jack Wilson, president of the Washington-based company. "Our experienced supervision, solid relationship with craft labor, modern installation equipment, and dedication to quality will enable us to continue our success in the next phase of this significant cable replacement project. It is our goal to help ComEd realize the value from these service upgrades."

"ComEd provides reliable service at a competitive price to nearly eight million customers. This replacement of fluid-filled cables with solid dielectric cables is a major undertaking, and W. A. Chester provides us high quality installation services on schedule at an affordable price," said Commonwealth spokesperson Julie Morrow.

W. A. Chester, the industry leader in the construction and installation of underground, high voltage transmission and distribution cable systems, is a wholly owned, non-regulated affiliate of Pepco.

In addition to construction, installation, maintenance and repair of underground transmission and distribution cable systems, Chester also offers expert installation of submarine cable systems, fiber optic cable systems and telecommunications systems, and provides the full spectrum of services from turnkey projects to inspection, preventive maintenance and emergency response. With an expanding array of flexible, cost saving services, W. A. Chester is well positioned to serve utility and telecommunications companies throughout the United States in the next millennium.

Additional information about W. A. Chester may be found on the company's Web site at www.potomaccapital.com/wachester.html or by calling 202-466-1940.