For Immediate Release
July 13, 2001

Investors, media and public are invited to tune into a Web cast of Potomac Electric Power Company's (NYSE: POM) joint Annual Meeting of Common Stockholders and Special Meeting of Preferred Stockholders at 10 a.m. EDT, Wednesday, July 18. At this meeting shareholders will vote on the company's planned merger with Conectiv.

John M. Derrick Jr., Chairman and Chief Executive Officer, and Dennis R. Wraase, President and Chief Operating Officer, will discuss the company's future growth strategy and report second-quarter earnings.

The live audio and slide presentation from the meeting can be accessed through Pepco's Web site, www.pepco.com. Click on Investor Relations and follow the instructions. For an audio version of the meeting, telephone 1-800-388-8975 and use "Pepco" as the verbal password. Please plan to dial in 5-10 minutes before the start of the call to ensure a timely connection.

The Web cast will be archived and available for replay for one week on pepco.com, starting approximately two hours after the meeting's completion on July 18. For audio only, call 1-800-428-6051; when prompted, enter the passcode 201945.

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.

Pepco is an investor-owned company that delivers electricity to more than 700,000 customers in Washington, D.C., and the Maryland suburbs. Through its family of subsidiaries, Pepco also operates in the competitive arenas of telecommunications and energy products and services in the mid-Atlantic region.