For Immediate Release
April 24, 2001

Potomac Electric Power Company`s (NYSE: POM) Board of Directors today set July 18, 2001 as the new date for its joint Annual Meeting of Common Shareholders and Special Meeting of Preferred Shareholders to vote on Pepco`s proposed merger with Conectiv and other matters.

The meeting will be at 10 a.m. (EDT) at the Inn and Conference Center, University of Maryland University College, 3501 University Blvd. East, Adelphi, Md. It had been scheduled for July 6 in Washington, D.C.