For Immediate Release
December 14, 1999

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

Since 1997, W. A. Chester has been the installation contractor for the upgrade of a major portion of ComEd's underground electric cable system. This new contract follows W. A. Chester's successful completion of a similar ComEd project in August. When work is completed on the latest phase of this multi-million dollar project, W. A. Chester will have installed more than 100 miles of new, single conductor 138kV solid dielectric cable.

"It is significant that this most recent contract represents the fourth consecutive project that W. A. Chester has been awarded for the ComEd system and reaffirms the high-quality, reliable, services that we are providing," said Bob Thompson, Vice President of the Washington-based company. "Having W. A. Chester crews working continuously in the Chicago area has provided the added benefit to ComEd of being able to rely upon an available high voltage specialty contractor to provide emergency response services when needed."

Details of the contract were not disclosed.

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 both

overhead and submarine cable systems, fiber optic cable 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.