For Immediate Release
July 16, 1999

District of Columbia Council Member Sharon Ambrose, in a letter today to the District of Columbia Public Service Commission, indicated that the PSC "may now move forward" with hearings on the asset divestiture petition of Potomac Electric Power Company (NYSE: POM) (Pepco) on a schedule that would be consistent with the regulatory schedule in Maryland. The Company noted that this is also consistent with its proposed divestiture schedule.

Council Member Ambrose's letter of July 16, 1999, came as a result of information received in a 10-hour hearing July 12 before the Committee on Consumer and Regulatory Affairs, which she chairs.